Ethic Inc. Sells 22,479 Shares of Baker Hughes Company $BKR

Ethic Inc. reduced its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 15.7% in the third quarter, HoldingsChannel.com reports. The fund owned 120,866 shares of the company’s stock after selling 22,479 shares during the quarter. Ethic Inc.’s holdings in Baker Hughes were worth $5,889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes during the second quarter worth approximately $36,000. Harbour Investments Inc. lifted its stake in Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the period. LFA Lugano Financial Advisors SA bought a new position in shares of Baker Hughes during the 2nd quarter worth approximately $36,000. LRI Investments LLC grew its position in shares of Baker Hughes by 59.3% during the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after buying an additional 384 shares during the period. Finally, Hilltop National Bank acquired a new position in shares of Baker Hughes during the 2nd quarter valued at $43,000. 92.06% of the stock is owned by institutional investors and hedge funds.

Baker Hughes Price Performance

BKR stock opened at $45.38 on Tuesday. The company has a market capitalization of $44.78 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.00 and a current ratio of 1.41. Baker Hughes Company has a 52-week low of $33.60 and a 52-week high of $51.12. The business has a 50-day simple moving average of $47.68 and a two-hundred day simple moving average of $45.14.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm had revenue of $5.09 billion during the quarter. Research analysts expect that Baker Hughes Company will post 2.59 EPS for the current fiscal year.

Baker Hughes Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, November 4th. This represents a $0.92 annualized dividend and a yield of 2.0%. Baker Hughes’s dividend payout ratio (DPR) is 31.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Bank of America raised their price target on shares of Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Cowen restated a “buy” rating on shares of Baker Hughes in a research note on Monday, October 27th. Barclays boosted their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Jefferies Financial Group increased their price target on Baker Hughes from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Baker Hughes in a report on Monday, December 15th. Twenty-three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $53.92.

About Baker Hughes

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.