Baker Hughes Company $BKR Stock Holdings Increased by Perpetual Ltd

Key Points

• Perpetual Ltd increased its Baker Hughes stake by 24% in the third quarter, purchasing 765,582 additional shares. It now owns 3.96 million shares valued at approximately $217.3 million, representing 0.40% of Baker Hughes.
• Institutional investors own 92.06% of Baker Hughes, with several major firms—including Amundi, First Trust Advisors, and Bank of America—also increasing their positions.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and a $71.41 target price. Baker Hughes also exceeded quarterly earnings and revenue expectations and pays a $0.23 quarterly dividend.

Perpetual Ltd increased its holdings in shares of Baker Hughes Company (NASDAQ:BKR - Free Report) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,958,604 shares of the company's stock after buying an additional 765,582 shares during the quarter. Baker Hughes accounts for approximately 3.4% of Perpetual Ltd's holdings, making the stock its 5th largest holding. Perpetual Ltd owned 0.40% of Baker Hughes worth $217,327,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in BKR. Amundi increased its holdings in shares of Baker Hughes by 28.2% in the first quarter. Amundi now owns 10,946,464 shares of the company's stock worth $668,282,000 after acquiring an additional 2,409,978 shares in the last quarter. First Trust Advisors LP raised its position in shares of Baker Hughes by 4.0% during the first quarter. First Trust Advisors LP now owns 9,663,737 shares of the company's stock worth $589,971,000 after purchasing an additional 374,974 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Baker Hughes by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 6,738,599 shares of the company's stock valued at $411,391,000 after purchasing an additional 119,388 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Baker Hughes by 5.1% during the 1st quarter. Bank of America Corp DE now owns 3,837,618 shares of the company's stock valued at $234,287,000 after purchasing an additional 184,897 shares in the last quarter. Finally, Bessemer Group Inc. grew its position in shares of Baker Hughes by 2.1% in the 1st quarter. Bessemer Group Inc. now owns 3,565,158 shares of the company's stock valued at $217,652,000 after purchasing an additional 73,836 shares during the period. 92.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BKR. Wall Street Zen cut Baker Hughes from a "buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Stifel Nicolaus raised their target price on shares of Baker Hughes from $74.00 to $75.00 and gave the stock a "buy" rating in a report on Tuesday, July 28th. Wolfe Research initiated coverage on shares of Baker Hughes in a research note on Wednesday, July 8th. They issued an "outperform" rating and a $70.00 price target on the stock. UBS Group cut their price target on shares of Baker Hughes from $72.00 to $69.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 30th. Finally, Royal Bank Of Canada upped their price target on shares of Baker Hughes from $71.00 to $76.00 and gave the company an "outperform" rating in a report on Tuesday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $71.41.

Baker Hughes Stock Performance

BKR opened at $56.18 on Tuesday. The business's 50-day moving average price is $60.35 and its two-hundred day moving average price is $60.98. Baker Hughes Company has a 1 year low of $43.92 and a 1 year high of $70.41. The company has a market capitalization of $55.77 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 2.69 and a beta of 1.04. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76.

Baker Hughes (NASDAQ:BKR - Get Free Report) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.13. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.54 billion. Baker Hughes had a return on equity of 13.85% and a net margin of 11.17%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. Equities analysts expect that Baker Hughes Company will post 2.58 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a $0.23 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes's payout ratio is presently 29.68%.

Baker Hughes Company Profile

Baker Hughes Company NASDAQ: BKR is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.

Want to see what other hedge funds are holding BKR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes Company (NASDAQ:BKR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.