Texas Permanent School Fund lessened its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 8.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 93,479 shares of the company’s stock after selling 8,136 shares during the quarter. Texas Permanent School Fund’s holdings in Baker Hughes A GE were worth $3,162,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in BHGE. Schroder Investment Management Group acquired a new stake in Baker Hughes A GE during the 2nd quarter worth $125,000. Gofen & Glossberg LLC IL acquired a new position in shares of Baker Hughes A GE during the 3rd quarter valued at about $203,000. Indiana Trust & Investment Management CO acquired a new position in shares of Baker Hughes A GE during the 2nd quarter valued at about $205,000. Rathbone Brothers plc acquired a new position in shares of Baker Hughes A GE during the 2nd quarter valued at about $210,000. Finally, XR Securities LLC acquired a new position in shares of Baker Hughes A GE during the 3rd quarter valued at about $212,000. 93.77% of the stock is currently owned by institutional investors.
Shares of BHGE opened at $25.89 on Friday. The stock has a market capitalization of $11.22 billion, a P/E ratio of 49.79, a P/E/G ratio of 4.80 and a beta of 0.70. Baker Hughes A GE Co has a 12-month low of $25.53 and a 12-month 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 1.91.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). The company had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.88 billion. Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.05 earnings per share. Analysts expect that Baker Hughes A GE Co will post 0.66 earnings per share for the current year.
BHGE has been the topic of several recent research reports. Cowen lowered their price target on shares of Baker Hughes A GE from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, July 6th. Zacks Investment Research cut shares of Baker Hughes A GE from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. Piper Jaffray Companies reissued a “buy” rating and set a $38.00 price target on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Seaport Global Securities reissued a “hold” rating and set a $32.00 price target on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Finally, ValuEngine raised shares of Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $36.93.
In related news, VP Kurt Camilleri sold 2,513 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $85,442.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Matthias L. Heilmann sold 12,000 shares of the business’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $408,000.00. Following the completion of the sale, the insider now owns 3,743 shares in the company, valued at $127,262. The disclosure for this sale can be found here. 0.18% of the stock is currently owned by insiders.
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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