MetLife Investment Management LLC Lowers Position in Baker Hughes (NASDAQ:BKR)

MetLife Investment Management LLC decreased its stake in shares of Baker Hughes (NASDAQ:BKR) by 2.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 258,394 shares of the company’s stock after selling 7,801 shares during the period. MetLife Investment Management LLC’s holdings in Baker Hughes were worth $9,341,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Baker Hughes by 436.0% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,004,647 shares of the company’s stock worth $36,318,000 after buying an additional 817,227 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Baker Hughes by 3.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 654,045 shares of the company’s stock worth $23,644,000 after purchasing an additional 20,204 shares during the period. Bridgewater Associates LP lifted its position in shares of Baker Hughes by 36.8% during the 3rd quarter. Bridgewater Associates LP now owns 1,234,630 shares of the company’s stock valued at $44,632,000 after buying an additional 332,000 shares during the last quarter. Townsquare Capital LLC lifted its holdings in Baker Hughes by 41.0% during the third quarter. Townsquare Capital LLC now owns 21,551 shares of the company’s stock valued at $779,000 after purchasing an additional 6,272 shares during the last quarter. Finally, Avestar Capital LLC bought a new position in Baker Hughes in the 3rd quarter worth approximately $256,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Price Performance

Shares of BKR stock opened at $43.61 on Friday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The company has a current ratio of 1.30, a quick ratio of 0.88 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $39.23 and a two-hundred day simple moving average of $35.92. The stock has a market capitalization of $43.15 billion, a price-to-earnings 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 quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share for the quarter, topping 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 the consensus estimate of $7.21 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Monday, November 4th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis 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 presently 37.67%.

Analyst Ratings Changes

BKR has been the topic of several recent research reports. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Barclays raised their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Citigroup upped their price target on Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company upgraded shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $40.00 to $42.00 in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus raised their price target on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a report on Monday. Two equities research 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, the stock presently has a consensus 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.