American International Group Inc. Acquires 19,069 Shares of Baker Hughes A GE Co (NYSE:BHGE)

American International Group Inc. boosted its position in shares of Baker Hughes A GE Co (NYSE:BHGE) by 10.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 196,102 shares of the company’s stock after acquiring an additional 19,069 shares during the quarter. American International Group Inc.’s holdings in Baker Hughes A GE were worth $4,216,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Meeder Asset Management Inc. bought a new position in Baker Hughes A GE in the fourth quarter valued at approximately $35,000. Bremer Trust National Association purchased a new stake in shares of Baker Hughes A GE during the 4th quarter valued at $36,000. JOYN Advisors Inc. increased its position in shares of Baker Hughes A GE by 271.0% during the 4th quarter. JOYN Advisors Inc. now owns 1,929 shares of the company’s stock valued at $41,000 after purchasing an additional 1,409 shares during the last quarter. First Hawaiian Bank increased its position in shares of Baker Hughes A GE by 76.0% during the 4th quarter. First Hawaiian Bank now owns 2,295 shares of the company’s stock valued at $49,000 after purchasing an additional 991 shares during the last quarter. Finally, CKW Financial Group increased its position in shares of Baker Hughes A GE by 25.0% during the 4th quarter. CKW Financial Group now owns 2,500 shares of the company’s stock valued at $54,000 after purchasing an additional 500 shares during the last quarter. 96.03% of the stock is owned by institutional investors.

BHGE has been the subject of several research analyst reports. Morgan Stanley lowered Baker Hughes A GE from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 5th. ValuEngine lowered Baker Hughes A GE from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. Societe Generale initiated coverage on Baker Hughes A GE in a research report on Wednesday, February 27th. They set a “buy” rating and a $36.00 target price for the company. Credit Suisse Group raised Baker Hughes A GE from a “neutral” rating to an “outperform” rating and decreased their target price for the company from $33.00 to $25.00 in a research report on Wednesday, December 19th. Finally, Zacks Investment Research raised Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.88.

In related news, insider William D. Marsh sold 1,242 shares of the stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $23.31, for a total transaction of $28,951.02. Following the completion of the transaction, the insider now directly owns 35,257 shares of the company’s stock, valued at $821,840.67. The sale was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is currently owned by corporate insiders.

BHGE traded down $0.43 during trading hours on Monday, hitting $25.95. The stock had a trading volume of 2,829,155 shares, compared to its average volume of 4,580,484. Baker Hughes A GE Co has a 1 year low of $20.09 and a 1 year high of $37.76. The firm has a market cap of $27.63 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 0.54 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.15 and a current ratio of 1.66.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings data on Thursday, January 31st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.01). Baker Hughes A GE had a return on equity of 0.76% and a net margin of 0.85%. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same period last year, the business posted $0.15 EPS. As a group, research analysts predict that Baker Hughes A GE Co will post 1.02 earnings per share for the current fiscal year.

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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.

Further Reading: Stock Split

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

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