True Wealth Design LLC Acquires 829 Shares of Baker Hughes (NASDAQ:BKR)

True Wealth Design LLC grew its holdings in Baker Hughes (NASDAQ:BKR) by 2,181.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 867 shares of the company’s stock after acquiring an additional 829 shares during the period. True Wealth Design LLC’s holdings in Baker Hughes were worth $31,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in BKR. Dimensional Fund Advisors LP grew its stake in Baker Hughes by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 9,898,322 shares of the company’s stock valued at $348,074,000 after acquiring an additional 680,621 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Baker Hughes by 1.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,633,006 shares of the company’s stock valued at $348,233,000 after purchasing an additional 145,537 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Baker Hughes by 8.6% in the second quarter. Legal & General Group Plc now owns 8,723,388 shares of the company’s stock worth $306,801,000 after purchasing an additional 692,859 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Baker Hughes by 3.1% in the second quarter. American Century Companies Inc. now owns 8,274,250 shares of the company’s stock worth $291,005,000 after purchasing an additional 248,122 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Baker Hughes by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,951,703 shares of the company’s stock worth $251,304,000 after buying an additional 22,383 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BKR. Citigroup lifted their price objective on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Benchmark restated a “buy” rating and issued a $42.00 price target on shares of Baker Hughes in a research report on Thursday, October 24th. UBS Group lowered their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, September 18th. Barclays boosted their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Morgan Stanley increased their price target on shares of Baker Hughes from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $44.76.

Baker Hughes Stock Performance

Shares of Baker Hughes stock opened at $43.95 on Monday. Baker Hughes has a 52 week low of $28.32 and a 52 week high of $45.17. The company has a market capitalization of $43.49 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. The stock’s fifty day moving average is $39.39 and its two-hundred day moving average is $36.04. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.61 by $0.06. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. The company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the firm posted $0.42 EPS. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, analysts expect that Baker Hughes will post 2.29 earnings per share for the current 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 paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Monday, November 4th. Baker Hughes’s dividend payout ratio is presently 37.67%.

Baker Hughes Company 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.