13,177 Baker Hughes Company $BKR Shares Acquired by Ethic Inc.

Ethic Inc. raised its holdings in Baker Hughes Company (NASDAQ:BKR) by 8.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,084 shares of the company’s stock after acquiring an additional 13,177 shares during the quarter. Ethic Inc.’s holdings in Baker Hughes were worth $9,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC lifted its position in Baker Hughes by 1.1% during the 3rd quarter. 180 Wealth Advisors LLC now owns 41,544 shares of the company’s stock worth $2,281,000 after buying an additional 458 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Baker Hughes by 4.1% in the third quarter. Kornitzer Capital Management Inc. KS now owns 130,298 shares of the company’s stock valued at $7,153,000 after acquiring an additional 5,158 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Baker Hughes by 6.3% in the third quarter. Parallel Advisors LLC now owns 14,457 shares of the company’s stock valued at $794,000 after acquiring an additional 854 shares during the last quarter. Waycross Partners LLC acquired a new stake in shares of Baker Hughes in the third quarter valued at about $1,825,000. Finally, CenterBook Partners LP raised its holdings in Baker Hughes by 107.5% during the third quarter. CenterBook Partners LP now owns 59,083 shares of the company’s stock worth $3,244,000 after acquiring an additional 30,612 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Baker Hughes news, Director John Rice purchased 10,000 shares of Baker Hughes stock in a transaction that occurred on Tuesday, November 3rd. The stock was acquired at an average price of $53.10 per share, for a total transaction of $531,000.00. Following the completion of the acquisition, the director owned 77,315 shares of the company’s stock, valued at approximately $4,105,426.50. This trade represents a 14.86% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on BKR shares. Stifel Nicolaus increased their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Zacks Research downgraded Baker Hughes from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Susquehanna boosted their price target on Baker Hughes from $72.00 to $75.00 and gave the stock a “positive” rating in a research report on Thursday, September 10th. Barclays lowered their price target on Baker Hughes from $72.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 29th. Finally, Piper Sandler dropped their price objective on Baker Hughes from $73.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.27.

Baker Hughes Stock Performance

Shares of BKR stock opened at $47.87 on Monday. The company has a fifty day moving average price of $56.92 and a two-hundred day moving average price of $60.03. Baker Hughes Company has a one year low of $44.26 and a one year high of $70.41. The stock has a market cap of $47.54 billion, a P/E ratio of 16.51, a P/E/G ratio of 2.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.24 and a quick ratio of 0.90.

Baker Hughes (NASDAQ:BKR) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.09. The company had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.74 billion. Baker Hughes had a net margin of 10.08% and a return on equity of 13.55%. Baker Hughes’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 EPS. As a group, equities analysts predict that Baker Hughes Company will post 2.56 EPS for the current year.

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Tuesday, November 10th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date is Tuesday, November 10th. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Baker Hughes Profile

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides products and services to the oil and gas industry and other industrial markets. Its offerings include equipment and services used across the energy value chain, from exploration and production to transportation and processing.

The company also develops turbomachinery, industrial equipment, digital technologies and solutions for energy and industrial applications. Its portfolio includes technologies designed to support more efficient operations and lower-emissions energy systems.

Baker Hughes serves customers around the world.