Kovitz Investment Group Partners LLC Boosts Position in Baker Hughes, a GE company (NYSE:BHGE)

Kovitz Investment Group Partners LLC boosted its stake in Baker Hughes, a GE company (NYSE:BHGE) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 40,650 shares of the company’s stock after purchasing an additional 7,150 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Baker Hughes, a GE were worth $1,286,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. LPL Financial LLC lifted its position in Baker Hughes, a GE by 14.5% in the fourth quarter. LPL Financial LLC now owns 16,467 shares of the company’s stock valued at $521,000 after acquiring an additional 2,084 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Baker Hughes, a GE by 25.1% in the fourth quarter. Millennium Management LLC now owns 1,752,421 shares of the company’s stock valued at $55,447,000 after buying an additional 351,409 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in shares of Baker Hughes, a GE by 10.0% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 80,501 shares of the company’s stock valued at $2,546,000 after buying an additional 7,348 shares during the last quarter. Paloma Partners Management Co raised its holdings in shares of Baker Hughes, a GE by 20,947.6% in the fourth quarter. Paloma Partners Management Co now owns 38,985 shares of the company’s stock valued at $1,233,000 after buying an additional 39,172 shares during the last quarter. Finally, Luminus Management LLC purchased a new stake in shares of Baker Hughes, a GE in the fourth quarter valued at about $5,695,000. Hedge funds and other institutional investors own 92.28% of the company’s stock.

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Several research analysts have weighed in on the stock. Jefferies Group set a $31.00 target price on shares of Baker Hughes, a GE and gave the stock a “hold” rating in a research report on Wednesday. Piper Jaffray raised shares of Baker Hughes, a GE from a “neutral” rating to an “overweight” rating and set a $39.00 price target on the stock in a report on Tuesday. Edward Jones raised shares of Baker Hughes, a GE from a “hold” rating to a “buy” rating in a research note on Thursday, March 29th. Wells Fargo reduced their price objective on shares of Baker Hughes, a GE from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, January 25th. Finally, Cowen reaffirmed a “buy” rating and set a $45.00 price target on shares of Baker Hughes, a GE in a research note on Thursday, March 15th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. Baker Hughes, a GE currently has an average rating of “Hold” and an average target price of $37.61.

BHGE stock traded down $0.13 during mid-day trading on Friday, hitting $29.58. 3,700,144 shares of the company were exchanged, compared to its average volume of 5,407,637. The firm has a market cap of $12,554.91, a P/E ratio of 56.88, a P/E/G ratio of 4.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.08 and a quick ratio of 1.56. Baker Hughes, a GE company has a twelve month low of $25.53 and a twelve month high of $43.27.

Baker Hughes, a GE (NYSE:BHGE) last posted its quarterly earnings results on Wednesday, January 24th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. Baker Hughes, a GE had a negative net margin of 2.79% and a positive return on equity of 0.10%. The company had revenue of $5.76 billion for the quarter, compared to the consensus estimate of $5.60 billion. Baker Hughes, a GE’s revenue was down 2.7% on a year-over-year basis. sell-side analysts expect that Baker Hughes, a GE company will post 0.79 EPS for the current year.

In other news, insider William D. Marsh sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $35.00, for a total value of $175,000.00. Following the transaction, the insider now directly owns 25,190 shares in the company, valued at approximately $881,650. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.18% of the company’s stock.

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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.

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

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