7,069 Shares in Baker Hughes (NASDAQ:BKR) Acquired by Avestar Capital LLC

Avestar Capital LLC purchased a new stake in shares of Baker Hughes (NASDAQ:BKR) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,069 shares of the company’s stock, valued at approximately $256,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. increased its holdings in Baker Hughes by 18.6% in the third quarter. Eagle Asset Management Inc. now owns 5,486,207 shares of the company’s stock valued at $198,326,000 after purchasing an additional 860,219 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Baker Hughes by 63.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,001,870 shares of the company’s stock valued at $72,368,000 after acquiring an additional 780,417 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Baker Hughes in the third quarter valued at about $27,914,000. Legal & General Group Plc grew its stake in Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock valued at $306,801,000 after acquiring an additional 692,859 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock worth $348,074,000 after buying an additional 680,621 shares during the period. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

Baker Hughes stock opened at $43.61 on Thursday. The stock’s fifty day moving average price is $39.09 and its two-hundred day moving average price is $35.86. Baker Hughes has a one year low of $28.32 and a one 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 firm has a market cap of $43.15 billion, a PE ratio of 19.56, a price-to-earnings-growth 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. The firm had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. Baker Hughes had a return on equity of 13.77% and a net margin of 8.20%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. As a group, research analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BKR. Morgan Stanley upped their price objective on Baker Hughes from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Thursday, October 3rd. UBS Group reduced their price objective on Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Baker Hughes in a research report on Thursday, October 24th. Benchmark reissued a “buy” rating and set a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. Finally, Susquehanna increased their price target on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.