Becker Capital Management Inc. lowered its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 1.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,356,253 shares of the company’s stock after selling 14,902 shares during the quarter. Baker Hughes A GE comprises about 1.4% of Becker Capital Management Inc.’s investment portfolio, making the stock its 27th biggest position. Becker Capital Management Inc. owned approximately 0.13% of Baker Hughes A GE worth $37,595,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Baker Hughes A GE by 31.9% in the 4th quarter. BlackRock Inc. now owns 35,009,945 shares of the company’s stock worth $752,716,000 after acquiring an additional 8,467,168 shares during the period. Norges Bank bought a new position in Baker Hughes A GE in the 4th quarter worth $110,806,000. Pzena Investment Management LLC raised its holdings in Baker Hughes A GE by 1,163.7% in the 1st quarter. Pzena Investment Management LLC now owns 5,540,588 shares of the company’s stock worth $153,585,000 after acquiring an additional 5,102,148 shares during the period. Millennium Management LLC raised its holdings in Baker Hughes A GE by 72.5% in the 4th quarter. Millennium Management LLC now owns 10,141,107 shares of the company’s stock worth $218,034,000 after acquiring an additional 4,260,917 shares during the period. Finally, FMR LLC raised its holdings in Baker Hughes A GE by 11.7% in the 4th quarter. FMR LLC now owns 36,476,714 shares of the company’s stock worth $784,250,000 after acquiring an additional 3,826,019 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.
Several analysts have issued reports on the stock. Royal Bank of Canada decreased their price target on shares of Baker Hughes A GE to $33.00 and set an “average” rating on the stock in a research report on Wednesday, May 1st. Jefferies Financial Group set a $32.00 price target on shares of Baker Hughes A GE and gave the stock a “buy” rating in a research report on Thursday, June 6th. Societe Generale assumed coverage on shares of Baker Hughes A GE in a research report on Wednesday, February 27th. They issued a “buy” rating and a $36.00 price target on the stock. Goldman Sachs Group assumed coverage on shares of Baker Hughes A GE in a research report on Sunday, March 10th. They issued a “conviction-buy” rating and a $36.00 price target on the stock. Finally, Morgan Stanley lowered shares of Baker Hughes A GE from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Baker Hughes A GE presently has a consensus rating of “Buy” and a consensus target price of $35.35.
Shares of BHGE traded down $0.63 on Friday, reaching $22.15. 3,959,833 shares of the company’s stock were exchanged, compared to its average volume of 4,530,097. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.65 and a quick ratio of 1.11. The company has a market cap of $23.50 billion, a price-to-earnings ratio of 33.56, a price-to-earnings-growth ratio of 0.76 and a beta of 0.84. Baker Hughes A GE Co has a 12 month low of $20.09 and a 12 month high of $35.55.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. The firm had revenue of $5.62 billion during the quarter, compared to analysts’ expectations of $5.63 billion. Baker Hughes A GE had a net margin of 0.68% and a return on equity of 0.88%. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.09 earnings per share. As a group, analysts expect that Baker Hughes A GE Co will post 0.99 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.25%. The ex-dividend date was Monday, May 20th. Baker Hughes A GE’s dividend payout ratio (DPR) is presently 109.09%.
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Baker Hughes A GE Profile
Baker Hughes, a GE company provides integrated oilfield products, services, and digital solutions worldwide. Its Oilfield Services segment offers drilling, wireline, evaluation, completion, production, and intervention services; and drilling and completions fluids, completions tools and systems, wellbore intervention tools and services, artificial lift systems, pressure pumping systems, and oilfield and industrial chemicals for integrated oil and natural gas, and oilfield service companies.
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