Congress Asset Management Co. Has $3.56 Million Stock Holdings in Baker Hughes Company $BKR

Congress Asset Management Co. trimmed its stake in shares of Baker Hughes Company (NASDAQ:BKR) by 64.9% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 72,993 shares of the company’s stock after selling 135,249 shares during the quarter. Congress Asset Management Co.’s holdings in Baker Hughes were worth $3,556,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brandywine Global Investment Management LLC increased its holdings in Baker Hughes by 8.2% in the second quarter. Brandywine Global Investment Management LLC now owns 648,149 shares of the company’s stock valued at $24,850,000 after purchasing an additional 49,108 shares during the period. Schroder Investment Management Group grew its position in shares of Baker Hughes by 0.6% in the 2nd quarter. Schroder Investment Management Group now owns 1,450,363 shares of the company’s stock valued at $55,607,000 after buying an additional 8,994 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Baker Hughes by 422.3% in the second quarter. Empowered Funds LLC now owns 289,951 shares of the company’s stock valued at $11,117,000 after buying an additional 234,440 shares during the period. California Public Employees Retirement System raised its position in shares of Baker Hughes by 8.7% during the second quarter. California Public Employees Retirement System now owns 1,800,362 shares of the company’s stock worth $69,026,000 after acquiring an additional 144,381 shares during the last quarter. Finally, Cardano Risk Management B.V. raised its position in shares of Baker Hughes by 20.4% during the second quarter. Cardano Risk Management B.V. now owns 4,949,808 shares of the company’s stock worth $189,776,000 after acquiring an additional 838,333 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on BKR shares. Barclays upped their target price on Baker Hughes from $53.00 to $55.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Bank of America upped their price objective on shares of Baker Hughes from $52.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. TD Cowen increased their price objective on shares of Baker Hughes from $54.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Capital One Financial boosted their target price on shares of Baker Hughes from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Finally, Zephirin Group increased their price target on Baker Hughes from $37.00 to $40.00 and gave the stock a “hold” rating in a report on Thursday, October 2nd. Twenty-three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.92.

Baker Hughes Trading Up 1.9%

NASDAQ:BKR opened at $45.56 on Tuesday. Baker Hughes Company has a 12 month low of $33.60 and a 12 month high of $51.12. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $44.96 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 1.62 and a beta of 0.90. The firm has a fifty day simple moving average of $47.65 and a two-hundred day simple moving average of $44.90.

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

Baker Hughes Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is currently 31.72%.

Baker Hughes Profile

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.