True Wealth Design LLC Boosts Stock Holdings in Baker Hughes (NASDAQ:BKR)

True Wealth Design LLC lifted its holdings in Baker Hughes (NASDAQ:BKR) by 2,181.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 867 shares of the company’s stock after purchasing an additional 829 shares during the period. True Wealth Design LLC’s holdings in Baker Hughes were worth $31,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BKR. Ashton Thomas Securities LLC purchased a new position in Baker Hughes in the third quarter valued at about $30,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC purchased a new stake in Baker Hughes during the second quarter valued at approximately $48,000. Quarry LP boosted its stake in Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Baker Hughes by 18.4% in the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after purchasing an additional 291 shares during the last quarter. 92.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BKR. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $40.00 to $42.00 in a report on Wednesday, September 25th. Morgan Stanley increased their price target on Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. Citigroup boosted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Susquehanna upped their price objective on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a report on Thursday, October 24th. Finally, Stifel Nicolaus lifted their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, Baker Hughes has a consensus rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Trading Up 0.8 %

NASDAQ BKR opened at $43.95 on Monday. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. The company has a market capitalization of $43.49 billion, a PE ratio of 19.71, a P/E/G ratio of 0.74 and a beta of 1.38. The company has a fifty day moving average of $39.39 and a 200 day moving average of $36.04.

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

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a yield of 1.91%. Baker Hughes’s dividend payout ratio 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.