Eagle Asset Management Inc. Has $198.33 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Eagle Asset Management Inc. boosted its stake in shares of Baker Hughes (NASDAQ:BKR) by 18.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,486,207 shares of the company’s stock after acquiring an additional 860,219 shares during the quarter. Baker Hughes accounts for 1.1% of Eagle Asset Management Inc.’s portfolio, making the stock its 11th largest position. Eagle Asset Management Inc. owned about 0.55% of Baker Hughes worth $198,326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its position in Baker Hughes by 32.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,364,995 shares of the company’s stock worth $581,729,000 after acquiring an additional 4,207,973 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Baker Hughes by 7.4% in the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after purchasing an additional 680,621 shares in the last quarter. Legal & General Group Plc lifted its position in Baker Hughes by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after buying an additional 692,859 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Baker Hughes by 3.1% in the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after acquiring an additional 248,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Baker Hughes by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock valued at $251,304,000 after purchasing an additional 22,383 shares during the last quarter. 92.06% of the stock is owned by institutional investors.

Baker Hughes Price Performance

NASDAQ:BKR opened at $44.94 on Friday. The stock has a market capitalization of $44.46 billion, a PE ratio of 20.15, a P/E/G ratio of 0.72 and a beta of 1.38. Baker Hughes has a 1-year low of $28.32 and a 1-year high of $45.17. The firm has a fifty day simple moving average of $38.33 and a 200 day simple moving average of $35.52. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 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 analysts’ expectations of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. On average, research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The company also recently disclosed 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Wall Street Analysts Forecast Growth

BKR has been the subject of several research reports. Barclays lifted their target price on Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. The Goldman Sachs Group upped their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Stifel Nicolaus raised their price objective on shares of Baker Hughes from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Company 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.