ETRADE Capital Management LLC purchased a new position in Baker Hughes Incorporated (NYSE:BHGE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 8,621 shares of the company’s stock, valued at approximately $316,000.
Other hedge funds also recently bought and sold shares of the company. Amica Pension Fund Board of Trustees purchased a new position in Baker Hughes during the 3rd quarter valued at about $664,000. Amica Mutual Insurance Co. purchased a new position in Baker Hughes during the 3rd quarter valued at about $898,000. Amica Retiree Medical Trust purchased a new position in Baker Hughes during the 3rd quarter valued at about $101,000. Teachers Retirement System of The State of Kentucky purchased a new position in Baker Hughes during the 3rd quarter valued at about $1,678,000. Finally, American International Group Inc. purchased a new position in Baker Hughes during the 3rd quarter valued at about $5,998,000. 89.48% of the stock is currently owned by institutional investors.
Shares of Baker Hughes Incorporated (NYSE:BHGE) opened at $31.71 on Tuesday. Baker Hughes Incorporated has a 1-year low of $29.62 and a 1-year high of $68.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.90.
Baker Hughes (NYSE:BHGE) last released its quarterly earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.52 billion. The business’s quarterly revenue was up 77.7% on a year-over-year basis. analysts expect that Baker Hughes Incorporated will post 0.41 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were issued a $0.18 dividend. This is a boost from Baker Hughes’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, November 3rd. Baker Hughes’s dividend payout ratio (DPR) is currently -111.34%.
In related news, insider Matthias L. Heilmann bought 1,500 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was bought at an average cost of $30.04 per share, for a total transaction of $45,060.00. Following the purchase, the insider now directly owns 3,500 shares of the company’s stock, valued at $105,140. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.
BHGE has been the topic of a number of research reports. Argus initiated coverage on shares of Baker Hughes in a research report on Sunday, August 27th. They set a “buy” rating on the stock. Royal Bank Of Canada set a $55.00 target price on shares of Baker Hughes and gave the company a “buy” rating in a research report on Saturday, August 12th. Cowen set a $50.00 target price on shares of Baker Hughes and gave the company a “buy” rating in a research report on Wednesday, October 18th. Morgan Stanley set a $53.00 target price on shares of Baker Hughes and gave the company a “buy” rating in a research report on Monday, October 23rd. Finally, Citigroup cut their target price on shares of Baker Hughes from $44.00 to $41.00 and set a “buy” rating on the stock in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $40.74.
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