Dai ichi Life Insurance Company Ltd Purchases 24,000 Shares of Baker Hughes (NASDAQ:BKR)

Dai ichi Life Insurance Company Ltd raised its holdings in shares of Baker Hughes (NASDAQ:BKR) by 74.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,360 shares of the company’s stock after acquiring an additional 24,000 shares during the quarter. Dai ichi Life Insurance Company Ltd’s holdings in Baker Hughes were worth $2,037,000 as of its most recent SEC filing.

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

Baker Hughes Price Performance

Shares of BKR stock opened at $43.61 on Thursday. The company’s 50-day simple moving average is $39.09 and its two-hundred day simple moving average is $35.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88. Baker Hughes has a one year low of $28.32 and a one year high of $45.17. The company has a market capitalization of $43.15 billion, a P/E ratio of 19.56, a P/E/G ratio of 0.73 and a beta of 1.38.

Baker Hughes (NASDAQ:BKR) last issued its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $7.21 billion. During the same period in the previous year, the company posted $0.42 EPS. Baker Hughes’s revenue was up 4.0% on a year-over-year basis. As a group, equities analysts anticipate that Baker Hughes will post 2.29 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Susquehanna lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Stifel Nicolaus upped their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday. Wells Fargo & Company upgraded Baker Hughes from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $40.00 to $42.00 in a research report on Wednesday, September 25th. Citigroup upped their price objective on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, BMO Capital Markets boosted their target price on Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and a consensus price target of $44.76.

About Baker Hughes

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.