iA Global Asset Management Inc. Has $9.10 Million Holdings in Baker Hughes Company $BKR

iA Global Asset Management Inc. lifted its position in shares of Baker Hughes Company (NASDAQ:BKR) by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,823 shares of the company’s stock after acquiring an additional 9,431 shares during the quarter. iA Global Asset Management Inc.’s holdings in Baker Hughes were worth $9,102,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Baker Hughes by 104.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 661 shares of the company’s stock valued at $32,000 after purchasing an additional 337 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Baker Hughes by 61.7% in the second quarter. Harbour Investments Inc. now owns 854 shares of the company’s stock valued at $33,000 after buying an additional 326 shares during the period. LFA Lugano Financial Advisors SA bought a new position in Baker Hughes in the 2nd quarter valued at approximately $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in Baker Hughes during the 2nd quarter worth approximately $36,000. Finally, LRI Investments LLC grew its holdings in Baker Hughes by 59.3% during the 2nd quarter. LRI Investments LLC now owns 1,032 shares of the company’s stock worth $40,000 after acquiring an additional 384 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.

Wall Street Analyst Weigh In

BKR has been the subject of several analyst reports. Citigroup raised their price target on shares of Baker Hughes from $55.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. BMO Capital Markets raised their target price on Baker Hughes from $53.00 to $55.00 in a research report on Tuesday, November 11th. Jefferies Financial Group upped their price target on Baker Hughes from $58.00 to $59.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. UBS Group increased their price target on Baker Hughes from $48.00 to $54.00 and gave the company a “neutral” rating in a research note on Friday, December 12th. Finally, Bank of America lifted their price objective on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Twenty-one analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Baker Hughes Stock Performance

BKR stock opened at $53.95 on Friday. The firm has a market cap of $53.23 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.89. 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 50-day moving average price of $48.46 and a 200-day moving average price of $46.51. Baker Hughes Company has a 1-year low of $33.60 and a 1-year high of $55.31.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, October 23rd. The company reported $0.68 EPS for the quarter, topping the consensus estimate of $0.62 by $0.06. The business had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $6.81 billion. Baker Hughes had a return on equity of 14.22% and a net margin of 10.43%.The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 earnings per share. As a group, equities research analysts expect that Baker Hughes Company will post 2.59 earnings per share for the current year.

About Baker Hughes

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.