Glenmede Trust Co. NA Has $23.64 Million Stock Holdings in Baker Hughes (NASDAQ:BKR)

Glenmede Trust Co. NA grew its position in Baker Hughes (NASDAQ:BKR) by 3.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 654,045 shares of the company’s stock after buying an additional 20,204 shares during the period. Glenmede Trust Co. NA’s holdings in Baker Hughes were worth $23,644,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes during the third quarter worth about $30,000. New Covenant Trust Company N.A. acquired a new stake in Baker Hughes during the 1st quarter worth approximately $34,000. Alta Advisers Ltd acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $42,000. Headlands Technologies LLC bought a new position in Baker Hughes in the second quarter valued at approximately $48,000. Finally, Quarry LP boosted its holdings in shares of Baker Hughes by 81.1% in the second quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after buying an additional 714 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $43.61 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.88 and a current ratio of 1.30. Baker Hughes has a 52-week low of $28.32 and a 52-week high of $45.17. The firm has a market cap of $43.15 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. The business’s fifty day moving average is $39.09 and its 200-day moving average is $35.86.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. The firm had revenue of $6.91 billion for the quarter, compared to analyst estimates of $7.21 billion. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Sell-side analysts expect that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently declared 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. The ex-dividend date was Monday, November 4th. This represents a $0.84 annualized dividend and a dividend yield of 1.93%. Baker Hughes’s dividend payout ratio (DPR) is presently 37.67%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BKR shares. Susquehanna upped 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. Stifel Nicolaus upped their price objective on Baker Hughes from $45.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday. Benchmark reiterated a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Citigroup lifted their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Barclays increased their price objective on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.