Pacer Advisors Inc. lifted its stake in Baker Hughes A GE Co (NYSE:BHGE) by 12.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,224 shares of the company’s stock after purchasing an additional 5,427 shares during the quarter. Pacer Advisors Inc.’s holdings in Baker Hughes A GE were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hartford Investment Management Co. lifted its position in shares of Baker Hughes A GE by 1.3% in the second quarter. Hartford Investment Management Co. now owns 56,390 shares of the company’s stock worth $1,389,000 after purchasing an additional 744 shares in the last quarter. Greenleaf Trust purchased a new stake in shares of Baker Hughes A GE in the first quarter worth approximately $207,000. YorkBridge Wealth Partners LLC purchased a new stake in shares of Baker Hughes A GE in the first quarter worth approximately $59,000. Geode Capital Management LLC lifted its position in shares of Baker Hughes A GE by 31.2% in the fourth quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock worth $129,283,000 after purchasing an additional 1,432,685 shares in the last quarter. Finally, Shulman DeMeo Asset Management LLC purchased a new stake in shares of Baker Hughes A GE in the second quarter worth approximately $265,000. 48.39% of the stock is owned by institutional investors and hedge funds.
In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $20.75 per share, with a total value of $207,500.00. Following the completion of the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $311,250. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lorenzo Simonelli purchased 15,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $20.61 per share, for a total transaction of $309,150.00. Following the transaction, the chief executive officer now owns 113,368 shares of the company’s stock, valued at $2,336,514.48. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by company insiders.
BHGE has been the subject of a number of research analyst reports. TheStreet raised shares of Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. Jefferies Financial Group set a $32.00 price target on shares of Baker Hughes A GE and gave the stock a “buy” rating in a research report on Thursday, June 6th. Credit Suisse Group increased their price target on shares of Baker Hughes A GE from $27.00 to $28.00 and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Finally, Bank of America reduced their price target on shares of Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Baker Hughes A GE currently has an average rating of “Buy” and an average target price of $34.87.
BHGE traded up $0.08 during midday trading on Friday, hitting $22.72. 10,715,063 shares of the company’s stock traded hands, compared to its average volume of 4,683,873. The company has a market cap of $23.14 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 2.85 and a beta of 0.96. The stock’s fifty day simple moving average is $22.86 and its 200-day simple moving average is $24.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.60 and a quick ratio of 1.09. Baker Hughes A GE Co has a one year low of $20.09 and a one year high of $34.49.
Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.10 earnings per share. On average, research analysts expect that Baker Hughes A GE Co will post 0.98 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.17%. The ex-dividend date was Monday, August 12th. Baker Hughes A GE’s payout ratio is presently 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.
Featured Article: Why is the LIBOR significant?
Want to see what other hedge funds are holding BHGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes A GE Co (NYSE:BHGE).
Receive News & Ratings for Baker Hughes A GE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes A GE and related companies with MarketBeat.com's FREE daily email newsletter.