11,170 Baker Hughes Company $BKR Shares Sold by Reinhart Partners LLC.

Reinhart Partners LLC. reduced its holdings in Baker Hughes Company (NASDAQ:BKR) by 16.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 58,590 shares of the company’s stock after selling 11,170 shares during the quarter. Reinhart Partners LLC.’s holdings in Baker Hughes were worth $3,217,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in BKR. MCF Advisors LLC grew its stake in shares of Baker Hughes by 121.4% in the second quarter. MCF Advisors LLC now owns 476 shares of the company’s stock worth $26,000 after acquiring an additional 261 shares during the last quarter. Olistico Wealth LLC raised its stake in Baker Hughes by 209.4% during the 3rd quarter. Olistico Wealth LLC now owns 495 shares of the company’s stock valued at $27,000 after purchasing an additional 335 shares during the last quarter. Elevation Wealth Partners LLC raised its stake in Baker Hughes by 260.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 497 shares of the company’s stock valued at $27,000 after purchasing an additional 359 shares during the last quarter. MV Capital Management Inc. bought a new stake in Baker Hughes in the 4th quarter valued at $34,000. Finally, Jones Financial Companies Lllp bought a new stake in Baker Hughes in the 2nd quarter valued at $39,000. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $56.70 on Friday. The company has a 50 day moving average price of $60.44 and a 200 day moving average price of $61.04. Baker Hughes Company has a fifty-two week low of $43.92 and a fifty-two week high of $70.41. The company has a debt-to-equity ratio of 0.77, a current ratio of 2.09 and a quick ratio of 1.76. The stock has a market capitalization of $56.28 billion, a PE ratio of 18.29, a price-to-earnings-growth ratio of 2.67 and a beta of 1.04.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings results on Monday, July 27th. The company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.51 by $0.13. Baker Hughes had a net margin of 11.17% and a return on equity of 13.85%. The company had revenue of $6.74 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter in the previous year, the company earned $0.63 EPS. Baker Hughes’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that Baker Hughes Company will post 2.58 EPS for the current year.

Baker Hughes Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.92 annualized dividend and a yield of 1.6%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on BKR. Morgan Stanley started coverage on Baker Hughes in a research report on Friday, August 7th. They set an “overweight” rating and a $70.00 price objective on the stock. Weiss Ratings cut Baker Hughes from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 13th. Royal Bank Of Canada raised their target price on Baker Hughes from $71.00 to $76.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 25th. Stifel Nicolaus boosted their price target on Baker Hughes from $74.00 to $75.00 and gave the company a “buy” rating in a research note on Tuesday, July 28th. Finally, Zacks Research upgraded Baker Hughes from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 16th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.41.

Baker Hughes Company Profile

Baker Hughes Company (NASDAQ:BKR) is an energy technology company that provides equipment, services and digital solutions to oil and gas producers, industrial companies and other energy customers. Its offerings support activities across the energy value chain, including exploration and production, drilling, well construction, production optimization, and the transportation and processing of hydrocarbons.

The company supplies oilfield services and equipment such as drilling systems, well-completion technologies, artificial-lift systems, subsea production equipment and well-intervention services.