Chevy Chase Trust Holdings LLC Cuts Position in Baker Hughes (NASDAQ:BKR)

Chevy Chase Trust Holdings LLC lessened its position in Baker Hughes (NASDAQ:BKR) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 532,656 shares of the company’s stock after selling 12,269 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Baker Hughes were worth $19,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in BKR. National Pension Service increased its position in shares of Baker Hughes by 6.4% during the 3rd quarter. National Pension Service now owns 1,362,973 shares of the company’s stock valued at $49,271,000 after purchasing an additional 81,625 shares during the last quarter. Hixon Zuercher LLC purchased a new position in shares of Baker Hughes during the third quarter worth approximately $1,980,000. Wedge Capital Management L L P NC lifted its holdings in shares of Baker Hughes by 20.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 726,291 shares of the company’s stock worth $25,544,000 after acquiring an additional 123,689 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Baker Hughes by 76.1% in the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after purchasing an additional 53,006 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Baker Hughes by 7.6% during the 2nd quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after purchasing an additional 455,307 shares during the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

Baker Hughes Trading Down 0.0 %

NASDAQ BKR opened at $43.67 on Wednesday. The firm has a market capitalization of $43.21 billion, a PE ratio of 19.58, a P/E/G ratio of 0.74 and a beta of 1.40. The stock’s 50 day moving average is $39.68 and its 200 day moving average is $36.19. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the firm earned $0.42 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. Research analysts forecast that Baker Hughes will post 2.29 earnings per share for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.92%. Baker Hughes’s payout ratio is 37.67%.

Analyst Ratings Changes

Several research firms have recently commented on BKR. Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. UBS Group decreased their price target on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 18th. Barclays increased their price objective on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. BMO Capital Markets lifted their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, Susquehanna increased their price target on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seventeen have assigned 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 $44.76.

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.