Baker Hughes A GE Co (NYSE:BHGE) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its position in Baker Hughes A GE Co (NYSE:BHGE) by 7.3% in the 2nd quarter, Holdings Channel reports. The firm owned 95,748 shares of the company’s stock after acquiring an additional 6,535 shares during the quarter. State of Alaska Department of Revenue’s holdings in Baker Hughes A GE were worth $2,357,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Baker Hughes A GE by 8.8% in the 1st quarter. BlackRock Inc. now owns 38,089,819 shares of the company’s stock worth $1,055,851,000 after acquiring an additional 3,079,874 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Baker Hughes A GE by 24.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 11,739,780 shares of the company’s stock worth $325,427,000 after acquiring an additional 2,301,773 shares during the last quarter. Northern Trust Corp increased its stake in shares of Baker Hughes A GE by 9.1% in the 1st quarter. Northern Trust Corp now owns 6,139,410 shares of the company’s stock worth $170,185,000 after acquiring an additional 510,503 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Baker Hughes A GE by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock worth $129,283,000 after acquiring an additional 1,432,685 shares during the last quarter. Finally, Pzena Investment Management LLC increased its stake in shares of Baker Hughes A GE by 1,163.7% in the 1st quarter. Pzena Investment Management LLC now owns 5,540,588 shares of the company’s stock worth $153,585,000 after acquiring an additional 5,102,148 shares during the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

BHGE has been the subject of a number of recent research reports. Jefferies Financial Group set a $32.00 target price on Baker Hughes A GE and gave the stock a “buy” rating in a research note on Thursday, June 6th. Wells Fargo & Co cut their target price on Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. Royal Bank of Canada cut their price objective on Baker Hughes A GE to $33.00 and set an “average” rating for the company in a research report on Wednesday, May 1st. Finally, AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $35.44.

Baker Hughes A GE stock traded down $1.19 during midday trading on Friday, reaching $24.08. 5,043,223 shares of the stock traded hands, compared to its average volume of 4,591,916. The business has a 50-day simple moving average of $24.36. Baker Hughes A GE Co has a 12-month low of $20.09 and a 12-month high of $35.55. The firm has a market capitalization of $26.21 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 3.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.11 and a current ratio of 1.60.

Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same period last year, the business posted $0.10 EPS. Baker Hughes A GE’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, analysts expect that Baker Hughes A GE Co will post 0.98 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, August 13th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.99%. Baker Hughes A GE’s dividend payout ratio (DPR) is 109.09%.

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.

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

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