Daiwa Securities Group Inc. Has $6.70 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Daiwa Securities Group Inc. raised its stake in Baker Hughes (NASDAQ:BKR) by 11.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,227 shares of the company’s stock after buying an additional 19,278 shares during the period. Daiwa Securities Group Inc.’s holdings in Baker Hughes were worth $6,696,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Baker Hughes in the third quarter valued at approximately $30,000. New Covenant Trust Company N.A. bought a new position in shares of Baker Hughes during the first quarter valued at $34,000. Alta Advisers Ltd bought a new position in shares of Baker Hughes during the second quarter valued at $42,000. Headlands Technologies LLC bought a new position in shares of Baker Hughes during the second quarter valued at $48,000. Finally, Quarry LP raised its stake in shares of Baker Hughes by 81.1% during the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares during the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Analysts Set New Price Targets

BKR has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of Baker Hughes from $39.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research note on Friday, October 25th. JPMorgan Chase & Co. lifted their target price on shares of Baker Hughes from $42.00 to $43.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Evercore ISI lifted their target price on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Finally, Susquehanna lifted their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the stock a “positive” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Baker Hughes has an average rating of “Moderate Buy” and a consensus price target of $44.76.

Baker Hughes Trading Down 1.6 %

NASDAQ:BKR opened at $43.55 on Tuesday. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of 19.53, a PEG ratio of 0.75 and a beta of 1.38. The firm has a fifty day simple moving average of $38.73 and a two-hundred day simple moving average of $35.73. Baker Hughes has a 12 month low of $28.32 and a 12 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.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.67 earnings per share (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 business’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. Analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Dividend Announcement

The firm 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 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s dividend payout ratio is currently 37.67%.

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.