Glenmede Trust Co. NA Has $23.64 Million Stock Position in Baker Hughes (NASDAQ:BKR)

Glenmede Trust Co. NA grew its position in Baker Hughes (NASDAQ:BKR) by 3.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 654,045 shares of the company’s stock after purchasing an additional 20,204 shares during the period. Glenmede Trust Co. NA owned about 0.07% of Baker Hughes worth $23,644,000 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 BKR. Ashton Thomas Securities LLC acquired a new stake in shares of Baker Hughes in the 3rd quarter valued at $30,000. New Covenant Trust Company N.A. acquired a new stake in shares of Baker Hughes in the first quarter worth about $34,000. Alta Advisers Ltd acquired a new stake in shares of Baker Hughes in the second quarter worth about $42,000. Headlands Technologies LLC bought a new stake in shares of Baker Hughes during the 2nd quarter worth about $48,000. Finally, Quarry LP increased its holdings in shares of Baker Hughes by 81.1% during the 2nd quarter. Quarry LP now owns 1,594 shares of the company’s stock valued at $56,000 after acquiring an additional 714 shares during the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

Baker Hughes Trading Up 0.2 %

Shares of BKR opened at $43.61 on Thursday. The stock’s fifty day simple moving average is $39.09 and its 200-day simple moving average is $35.86. The firm has a market capitalization of $43.15 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.73 and a beta of 1.38. Baker Hughes has a 12-month low of $28.32 and a 12-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.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Tuesday, October 22nd. The company reported $0.67 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.91 billion for the quarter, compared to the consensus estimate of $7.21 billion. During the same period in the prior year, the company posted $0.42 EPS. The company’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts predict that Baker Hughes will post 2.29 earnings per share for the current year.

Baker Hughes Announces Dividend

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

Analyst Upgrades and Downgrades

BKR has been the subject of several analyst reports. Barclays boosted their target price on Baker Hughes from $41.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Susquehanna raised their target price on shares of Baker Hughes from $46.00 to $48.00 and gave the company a “positive” rating in a research note on Thursday, October 24th. BMO Capital Markets upped their price target on Baker Hughes from $43.00 to $45.00 and gave the stock an “outperform” rating in a report on Thursday, October 10th. Argus raised shares of Baker Hughes from a “hold” rating to a “buy” rating in a research report on Friday, October 25th. Finally, Citigroup increased their price target on shares of Baker Hughes from $42.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $44.76.

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.