John G Ullman & Associates Inc. increased its stake in Baker Hughes A GE Co (NYSE:BHGE) by 53.8% during the 3rd quarter, Holdings Channel reports. The fund owned 16,000 shares of the company’s stock after buying an additional 5,600 shares during the period. John G Ullman & Associates Inc.’s holdings in Baker Hughes A GE were worth $541,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in BHGE. Schroder Investment Management Group purchased a new stake in shares of Baker Hughes A GE during the second quarter valued at approximately $125,000. Gofen & Glossberg LLC IL purchased a new stake in shares of Baker Hughes A GE during the third quarter valued at approximately $203,000. Rathbone Brothers plc purchased a new stake in shares of Baker Hughes A GE during the second quarter valued at approximately $210,000. XR Securities LLC acquired a new stake in shares of Baker Hughes A GE during the third quarter worth approximately $212,000. Finally, Kanawha Capital Management LLC acquired a new stake in shares of Baker Hughes A GE during the second quarter worth approximately $213,000. 93.88% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on BHGE shares. Morgan Stanley started coverage on shares of Baker Hughes A GE in a research report on Tuesday, September 18th. They set an “overweight” rating and a $40.00 price target for the company. Jefferies Financial Group downgraded shares of Baker Hughes A GE from a “buy” rating to a “hold” rating and decreased their price target for the stock from $38.00 to $36.00 in a research report on Wednesday, October 31st. UBS Group set a $38.00 price target on shares of Baker Hughes A GE and gave the stock a “buy” rating in a research report on Monday. Guggenheim downgraded shares of Baker Hughes A GE from a “hold” rating to a “neutral” rating in a research report on Thursday, November 1st. Finally, 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. Two research 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. Baker Hughes A GE has an average rating of “Buy” and a consensus target price of $36.79.
Baker Hughes A GE stock opened at $26.85 on Tuesday. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 49.19, a price-to-earnings-growth ratio of 4.99 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.35. Baker Hughes A GE Co has a 12 month low of $25.53 and a 12 month high of $37.76.
Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings data on Tuesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). The business had revenue of $5.67 billion during the quarter, compared to analyst estimates of $5.88 billion. Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.05 EPS. On average, analysts anticipate that Baker Hughes A GE Co will post 0.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Friday, November 16th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.68%. Baker Hughes A GE’s dividend payout ratio is presently 138.46%.
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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 for onshore and offshore operations.
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