Sumitomo Mitsui Trust Group Inc. Increases Holdings in Baker Hughes (NASDAQ:BKR)

Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Baker Hughes (NASDAQ:BKR) by 2.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,935,988 shares of the company’s stock after acquiring an additional 62,718 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Baker Hughes were worth $106,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC purchased a new stake in shares of Baker Hughes during the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the 1st quarter worth $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the 2nd quarter worth $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the 2nd quarter worth $48,000. Finally, Quarry LP grew its stake in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock worth $56,000 after acquiring an additional 714 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on BKR. JPMorgan Chase & Co. increased their price target on Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Evercore ISI increased their price target on Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. BMO Capital Markets increased their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $40.00 to $42.00 in a research note on Wednesday, September 25th. Finally, Benchmark restated a “buy” rating and issued a $42.00 target price on shares of Baker Hughes in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.12.

Baker Hughes Stock Performance

Shares of BKR opened at $43.07 on Thursday. The company has a market cap of $42.62 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a 50-day moving average price of $36.94 and a 200-day moving average price of $35.01. Baker Hughes has a 12-month low of $28.32 and a 12-month high of $44.49.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.06. The firm had revenue of $6.91 billion during the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.42 EPS. As a group, equities analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Monday, November 4th will be given a dividend of $0.21 per share. The ex-dividend date is Monday, November 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.95%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Baker Hughes Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.