Stonebridge Capital Management Inc. Has $2.24 Million Position in Baker Hughes A GE Co (BHGE)

Stonebridge Capital Management Inc. lowered its position in Baker Hughes A GE Co (NYSE:BHGE) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 66,095 shares of the company’s stock after selling 2,845 shares during the period. Stonebridge Capital Management Inc.’s holdings in Baker Hughes A GE were worth $2,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Schroder Investment Management Group purchased a new position in Baker Hughes A GE during the second quarter worth about $125,000. Rational Advisors LLC purchased a new position in Baker Hughes A GE during the first quarter worth about $139,000. Gofen & Glossberg LLC IL purchased a new position in Baker Hughes A GE during the third quarter worth about $203,000. Indiana Trust & Investment Management CO purchased a new position in Baker Hughes A GE during the second quarter worth about $205,000. Finally, Rathbone Brothers plc purchased a new position in Baker Hughes A GE during the second quarter worth about $210,000. 93.88% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have weighed in on BHGE. Barclays reaffirmed a “buy” rating and set a $35.00 target price on shares of Baker Hughes A GE in a research note on Thursday, October 11th. Wolfe Research began coverage on shares of Baker Hughes A GE in a research note on Wednesday, October 10th. They set an “outperform” rating for the company. Jefferies Financial Group raised shares of Baker Hughes A GE from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research note on Tuesday, October 9th. HSBC lowered their target price on shares of Baker Hughes A GE to $40.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Finally, B. Riley set a $42.00 price target on shares of Baker Hughes A GE and gave the stock a “buy” rating in a research report on Sunday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $37.57.

In related news, insider Matthias L. Heilmann sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $408,000.00. Following the sale, the insider now owns 3,743 shares of the company’s stock, valued at $127,262. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kurt Camilleri sold 2,513 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $85,442.00. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

Shares of BHGE opened at $30.84 on Wednesday. The stock has a market cap of $13.93 billion, a PE ratio of 59.31, a price-to-earnings-growth ratio of 5.84 and a beta of 0.70. Baker Hughes A GE Co has a 1 year low of $25.53 and a 1 year high of $37.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 1.90.

Baker Hughes A GE (NYSE:BHGE) last issued its earnings results on Friday, July 20th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The firm had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.57 billion. Baker Hughes A GE had a negative net margin of 0.37% and a positive return on equity of 0.43%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, analysts predict that Baker Hughes A GE Co will post 0.72 EPS for the current year.

About Baker Hughes A GE

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 for onshore and offshore operations.

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Institutional Ownership by Quarter for Baker Hughes A GE (NYSE:BHGE)

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