Raymond James Financial Services Advisors Inc. lifted its stake in shares of Baker Hughes A GE Co (NYSE:BHGE) by 6.2% in the first quarter, HoldingsChannel reports. The firm owned 24,492 shares of the company’s stock after buying an additional 1,423 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Baker Hughes A GE were worth $679,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new stake in shares of Baker Hughes A GE during the fourth quarter worth about $36,000. JOYN Advisors Inc. boosted its position in Baker Hughes A GE by 271.0% during the fourth quarter. JOYN Advisors Inc. now owns 1,929 shares of the company’s stock worth $41,000 after acquiring an additional 1,409 shares during the last quarter. Advisory Services Network LLC boosted its position in Baker Hughes A GE by 130.1% during the fourth quarter. Advisory Services Network LLC now owns 2,103 shares of the company’s stock worth $45,000 after acquiring an additional 1,189 shares during the last quarter. Lindbrook Capital LLC boosted its position in Baker Hughes A GE by 91.6% during the first quarter. Lindbrook Capital LLC now owns 1,726 shares of the company’s stock worth $47,000 after acquiring an additional 825 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Baker Hughes A GE in the 1st quarter valued at about $47,000. 96.03% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on the stock. Wells Fargo & Co decreased their target price on shares of Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Baker Hughes A GE from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group set a $32.00 price target on shares of Baker Hughes A GE and gave the company a “buy” rating in a research note on Thursday, June 6th. Goldman Sachs Group assumed coverage on shares of Baker Hughes A GE in a research note on Sunday, March 10th. They issued a “conviction-buy” rating and a $36.00 price target on the stock. Finally, ValuEngine raised shares of Baker Hughes A GE from a “sell” rating to a “hold” rating in a research note on Saturday, March 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Baker Hughes A GE currently has a consensus rating of “Buy” and an average target price of $35.35.
Shares of NYSE:BHGE traded down $0.41 during trading hours on Wednesday, reaching $22.75. The stock had a trading volume of 398,444 shares, compared to its average volume of 4,555,749. Baker Hughes A GE Co has a 1 year low of $20.09 and a 1 year high of $35.55. The company has a current ratio of 1.65, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. The company has a market cap of $23.59 billion, a PE ratio of 34.46, a P/E/G ratio of 0.79 and a beta of 0.84.
Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.01. Baker Hughes A GE had a net margin of 0.68% and a return on equity of 0.88%. The company had revenue of $5.62 billion for the quarter, compared to the consensus estimate of $5.63 billion. During the same period in the prior year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts expect that Baker Hughes A GE Co will post 0.99 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Tuesday, May 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, May 20th. Baker Hughes A GE’s payout ratio is 109.09%.
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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.
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