Nisa Investment Advisors LLC lessened its position in Baker Hughes A GE Co (NYSE:BHGE) by 18.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,762 shares of the company’s stock after selling 15,800 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Baker Hughes A GE were worth $1,767,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in BHGE. Geode Capital Management LLC increased its stake in Baker Hughes A GE by 31.2% during the fourth 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. Municipal Employees Retirement System of Michigan acquired a new stake in Baker Hughes A GE during the fourth quarter worth $293,000. Thrivent Financial for Lutherans increased its stake in Baker Hughes A GE by 27.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 22,704 shares of the company’s stock worth $488,000 after acquiring an additional 4,824 shares during the last quarter. Advisory Services Network LLC increased its stake 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. Finally, Deutsche Bank AG increased its stake in Baker Hughes A GE by 5.9% during the fourth quarter. Deutsche Bank AG now owns 1,304,751 shares of the company’s stock worth $28,048,000 after acquiring an additional 72,808 shares during the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.
Several research firms have issued reports on BHGE. 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. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. ValuEngine cut Baker Hughes A GE from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research note on Thursday, June 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.44.
Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the business posted $0.10 earnings per share. The company’s quarterly revenue was up 8.0% on a year-over-year basis. As a group, equities research analysts anticipate that Baker Hughes A GE Co will post 0.98 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 2.99%. Baker Hughes A GE’s dividend payout ratio is currently 109.09%.
Baker Hughes A GE 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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