Natixis Advisors L.P. raised its stake in shares of Baker Hughes A GE Co (NYSE:BHGE) by 40.9% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,041 shares of the company’s stock after purchasing an additional 48,781 shares during the period. Natixis Advisors L.P.’s holdings in Baker Hughes A GE were worth $4,139,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in BHGE. Geode Capital Management LLC raised its position in Baker Hughes A GE by 31.2% during the 4th quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock worth $129,283,000 after purchasing an additional 1,432,685 shares during the last quarter. First Republic Investment Management Inc. bought a new position in Baker Hughes A GE during the 1st quarter worth $268,000. Janus Henderson Group PLC raised its position in Baker Hughes A GE by 50.8% during the 1st quarter. Janus Henderson Group PLC now owns 246,190 shares of the company’s stock worth $6,825,000 after purchasing an additional 82,964 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Baker Hughes A GE by 300.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 78,866 shares of the company’s stock worth $2,188,000 after acquiring an additional 59,186 shares during the period. Finally, Nissay Asset Management Corp Japan ADV grew its holdings in Baker Hughes A GE by 7.8% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 41,147 shares of the company’s stock worth $1,141,000 after acquiring an additional 2,972 shares during the period. 48.39% of the stock is owned by institutional investors and hedge funds.
BHGE has been the subject of a number of recent analyst reports. AltaCorp Capital reiterated an “outperform” rating on shares of Baker Hughes A GE in a report on Thursday, June 20th. Bank of America decreased their price target on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Wells Fargo & Co decreased their price target on Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday. TheStreet upgraded Baker Hughes A GE from a “d+” rating to a “c-” rating in a report on Thursday, June 20th. Finally, Credit Suisse Group increased their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $34.87.
Baker Hughes A GE (NYSE:BHGE) last issued its earnings results on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the business posted $0.10 EPS. Equities analysts predict that Baker Hughes A GE Co will post 0.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.72 annualized dividend and a dividend yield of 3.17%. Baker Hughes A GE’s dividend payout ratio is presently 109.09%.
In other Baker Hughes A GE news, insider Uwem Ukpong sold 16,686 shares of Baker Hughes A GE stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $23.62, for a total transaction of $394,123.32. Following the completion of the transaction, the insider now owns 271 shares in the company, valued at approximately $6,401.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Rice purchased 10,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were bought at an average price of $20.75 per share, with a total value of $207,500.00. Following the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $311,250. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.
Baker Hughes A GE Company 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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