Great Lakes Advisors LLC cut its position in shares of Baker Hughes A GE Co (NYSE:BHGE) by 35.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 78,614 shares of the company’s stock after selling 42,896 shares during the quarter. Great Lakes Advisors LLC’s holdings in Baker Hughes A GE were worth $2,179,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of 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 in the last quarter. Norges Bank bought a new position in Baker Hughes A GE in the 4th quarter worth approximately $110,806,000. Pzena Investment Management LLC raised its position 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 purchasing an additional 5,102,148 shares during the last quarter. Millennium Management LLC raised its position 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 purchasing an additional 4,260,917 shares during the last quarter. Finally, FMR LLC raised its position 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 purchasing an additional 3,826,019 shares during the last quarter. 96.03% of the stock is currently owned by institutional investors.
Baker Hughes A GE stock traded down $0.63 during trading hours on Friday, hitting $22.15. The company had a trading volume of 3,959,833 shares, compared to its average volume of 4,530,097. Baker Hughes A GE Co has a one year low of $20.09 and a one year high of $35.55. The stock has a market cap of $23.50 billion, a P/E ratio of 33.56, a P/E/G ratio of 0.76 and a beta of 0.84. The company has a quick ratio of 1.11, a current ratio of 1.65 and a debt-to-equity ratio of 0.18.
Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Tuesday, April 30th. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Baker Hughes A GE had a net margin of 0.68% and a return on equity of 0.88%. The company had revenue of $5.62 billion for the quarter, compared to analysts’ expectations of $5.63 billion. During the same period last year, the firm earned $0.09 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts anticipate that Baker Hughes A GE Co will post 0.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Tuesday, May 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, May 20th. This represents a $0.72 annualized dividend and a dividend yield of 3.25%. Baker Hughes A GE’s dividend payout ratio is 109.09%.
Several research analysts recently weighed in on BHGE shares. Morgan Stanley cut shares of Baker Hughes A GE from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 5th. Zacks Investment Research upgraded shares of Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. ValuEngine cut shares of Baker Hughes A GE from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Goldman Sachs Group began coverage on shares of Baker Hughes A GE in a report on Sunday, March 10th. They issued a “conviction-buy” rating and a $36.00 price target for the company. Finally, Societe Generale began coverage on shares of Baker Hughes A GE in a report on Wednesday, February 27th. They issued a “buy” rating and a $36.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $35.35.
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.
Further Reading: Sell-Side Analysts
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