Becker Capital Management Inc. trimmed its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 1.1% in the 1st quarter, Holdings Channel reports. The firm owned 1,356,253 shares of the company’s stock after selling 14,902 shares during the quarter. Baker Hughes A GE accounts for 1.4% of Becker Capital Management Inc.’s holdings, making the stock its 27th biggest holding. Becker Capital Management Inc.’s holdings in Baker Hughes A GE were worth $37,595,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new position in shares of Baker Hughes A GE during the fourth quarter valued at $35,000. Bremer Trust National Association purchased a new position in shares of Baker Hughes A GE during the fourth quarter valued at $36,000. JOYN Advisors Inc. increased its stake in shares of Baker Hughes A GE by 271.0% during the fourth quarter. JOYN Advisors Inc. now owns 1,929 shares of the company’s stock valued at $41,000 after buying an additional 1,409 shares during the period. Advisory Services Network LLC increased its stake in shares of 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 valued at $45,000 after buying an additional 1,189 shares during the period. Finally, Lindbrook Capital LLC increased its stake in shares of Baker Hughes A GE by 91.6% during the first quarter. Lindbrook Capital LLC now owns 1,726 shares of the company’s stock valued at $47,000 after buying an additional 825 shares during the period. Institutional investors and hedge funds own 96.03% of the company’s stock.
BHGE has been the topic of several research reports. Credit Suisse Group restated an “outperform” rating and set a $23.57 price target (down previously from $28.00) on shares of Baker Hughes A GE in a research note on Friday, February 1st. Morgan Stanley lowered Baker Hughes A GE from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 5th. Zacks Investment Research upgraded Baker Hughes A GE from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. ValuEngine lowered Baker Hughes A GE from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Finally, Cowen restated an “outperform” rating and set a $32.00 price target (down previously from $34.00) on shares of Baker Hughes A GE in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $35.56.
Baker Hughes A GE (NYSE:BHGE) last posted its earnings results on Tuesday, April 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Baker Hughes A GE had a return on equity of 0.88% and a net margin of 0.68%. The company had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.63 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts predict that Baker Hughes A GE Co will post 0.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, May 20th. This represents a $0.72 annualized dividend and a yield of 3.08%. Baker Hughes A GE’s dividend payout ratio (DPR) is presently 109.09%.
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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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