Assetmark Inc. Acquires 1,230 Shares of Baker Hughes (NASDAQ:BKR)

Assetmark Inc. grew its stake in shares of Baker Hughes (NASDAQ:BKR) by 6.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,163 shares of the company’s stock after purchasing an additional 1,230 shares during the period. Assetmark Inc.’s holdings in Baker Hughes were worth $729,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in Baker Hughes during the 3rd quarter valued at about $103,000. AIA Group Ltd lifted its position in Baker Hughes by 4.2% in the third quarter. AIA Group Ltd now owns 43,350 shares of the company’s stock valued at $1,567,000 after buying an additional 1,738 shares during the last quarter. JB Capital LLC increased its stake in shares of Baker Hughes by 3.8% during the third quarter. JB Capital LLC now owns 76,845 shares of the company’s stock worth $2,778,000 after buying an additional 2,798 shares during the period. Principal Financial Group Inc. increased its stake in Baker Hughes by 4.2% in the third quarter. Principal Financial Group Inc. now owns 1,177,877 shares of the company’s stock valued at $42,580,000 after purchasing an additional 47,727 shares during the last quarter. Finally, Graypoint LLC raised its position in Baker Hughes by 3.0% in the third quarter. Graypoint LLC now owns 10,288 shares of the company’s stock worth $372,000 after acquiring an additional 301 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BKR has been the topic of several research reports. BMO Capital Markets increased their price objective on shares of Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Wells Fargo & Company raised shares of Baker Hughes from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $40.00 to $42.00 in a research note on Wednesday, September 25th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Evercore ISI raised their price target on shares of Baker Hughes from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, Benchmark reissued a “buy” rating and issued a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Baker Hughes presently has an average rating of “Moderate Buy” and an average target price of $44.59.

Baker Hughes Trading Down 0.6 %

BKR stock opened at $42.94 on Friday. The company has a market capitalization of $42.49 billion, a PE ratio of 19.24, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. 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 $44.49. The company’s 50-day simple moving average is $37.30 and its 200 day simple moving average is $35.13.

Baker Hughes (NASDAQ:BKR) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter last year, the firm posted $0.42 EPS. The company’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

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.