Zurcher Kantonalbank Zurich Cantonalbank Has $15.79 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Baker Hughes (NASDAQ:BKR) by 1.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 436,655 shares of the company’s stock after selling 7,746 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Baker Hughes were worth $15,785,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ashton Thomas Securities LLC acquired a new position in Baker Hughes during the third quarter worth $30,000. Alta Advisers Ltd bought a new stake in shares of Baker Hughes in the 2nd quarter worth about $42,000. Headlands Technologies LLC acquired a new stake in shares of Baker Hughes during the 2nd quarter worth about $48,000. Quarry LP boosted its position in 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 in the last quarter. Finally, UMB Bank n.a. grew its stake in Baker Hughes by 18.4% during the second quarter. UMB Bank n.a. now owns 1,873 shares of the company’s stock worth $66,000 after buying an additional 291 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR stock opened at $43.95 on Friday. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $45.17. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37. The company has a market cap of $43.49 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 0.74 and a beta of 1.38. The business’s fifty day moving average is $39.39 and its 200-day moving average is $36.02.

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

Baker Hughes Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Monday, November 4th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.91%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is 37.67%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on BKR shares. Barclays lifted their target price on shares of Baker Hughes from $41.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Susquehanna lifted their price objective on Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research report on Thursday, October 24th. Argus upgraded Baker Hughes from a “hold” rating to a “buy” rating in a report on Friday, October 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $43.00 price target on shares of Baker Hughes in a report on Thursday, October 24th. Finally, Benchmark reissued a “buy” rating and set a $42.00 price objective on shares of Baker Hughes in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $44.76.

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.