Hudson Valley Investment Advisors Inc. ADV Cuts Position in Baker Hughes (NASDAQ:BKR)

Hudson Valley Investment Advisors Inc. ADV reduced its stake in shares of Baker Hughes (NASDAQ:BKR) by 9.1% in the fourth quarter, HoldingsChannel reports. The firm owned 135,136 shares of the company’s stock after selling 13,538 shares during the period. Hudson Valley Investment Advisors Inc. ADV’s holdings in Baker Hughes were worth $5,543,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. National Pension Service increased its position in shares of Baker Hughes by 6.4% during the third quarter. National Pension Service now owns 1,362,973 shares of the company’s stock worth $49,271,000 after purchasing an additional 81,625 shares in the last quarter. Hixon Zuercher LLC purchased a new position in Baker Hughes during the 3rd quarter worth $1,980,000. Banque Cantonale Vaudoise increased its position in Baker Hughes by 76.1% during the 3rd quarter. Banque Cantonale Vaudoise now owns 122,661 shares of the company’s stock valued at $4,434,000 after buying an additional 53,006 shares in the last quarter. AQR Capital Management LLC raised its stake in Baker Hughes by 7.6% in the second quarter. AQR Capital Management LLC now owns 6,424,915 shares of the company’s stock valued at $223,523,000 after buying an additional 455,307 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in Baker Hughes by 60.3% in the third quarter. National Bank of Canada FI now owns 1,270,165 shares of the company’s stock worth $45,916,000 after acquiring an additional 478,009 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Baker Hughes Stock Performance

BKR opened at $43.44 on Friday. The firm has a fifty day moving average price of $42.17 and a 200 day moving average price of $37.89. Baker Hughes has a 1 year low of $28.32 and a 1 year high of $45.17. The stock has a market cap of $42.99 billion, a P/E ratio of 19.48, a P/E/G ratio of 0.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.30 and a quick ratio of 0.88.

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

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Monday, November 4th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.93%. The ex-dividend date was Monday, November 4th. Baker Hughes’s payout ratio is currently 37.67%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BKR. UBS Group cut their price objective on shares of Baker Hughes from $42.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday, September 18th. Bank of America upped their price target on shares of Baker Hughes from $42.00 to $48.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. TD Cowen lowered their price objective on shares of Baker Hughes from $53.00 to $51.00 and set a “buy” rating for the company in a research note on Wednesday. Wells Fargo & Company upped their target price on Baker Hughes from $42.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Citigroup lifted their price target on Baker Hughes from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Three 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, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $47.18.

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.