Indus Capital Partners LLC purchased a new stake in shares of Baker Hughes A GE Co (NYSE:BHGE) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 868,750 shares of the company’s stock, valued at approximately $28,695,000. Baker Hughes A GE accounts for approximately 2.9% of Indus Capital Partners LLC’s holdings, making the stock its 8th biggest holding. Indus Capital Partners LLC owned about 0.21% of Baker Hughes A GE at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. TCW Group Inc. raised its position in Baker Hughes A GE by 13.5% in the second quarter. TCW Group Inc. now owns 4,409,766 shares of the company’s stock valued at $145,654,000 after purchasing an additional 523,729 shares during the period. Bank of New York Mellon Corp raised its position in Baker Hughes A GE by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock valued at $135,150,000 after purchasing an additional 65,666 shares during the period. Kiltearn Partners LLP purchased a new stake in Baker Hughes A GE in the first quarter valued at approximately $101,956,000. FIL Ltd raised its position in Baker Hughes A GE by 3.1% in the first quarter. FIL Ltd now owns 3,281,576 shares of the company’s stock valued at $91,129,000 after purchasing an additional 99,675 shares during the period. Finally, Van ECK Associates Corp raised its position in Baker Hughes A GE by 15.2% in the first quarter. Van ECK Associates Corp now owns 2,845,204 shares of the company’s stock valued at $79,011,000 after purchasing an additional 375,454 shares during the period. 93.84% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:BHGE opened at $31.67 on Thursday. The firm has a market capitalization of $13.57 billion, a price-to-earnings ratio of 60.90, a price-to-earnings-growth ratio of 5.69 and a beta of 0.72. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.90 and a quick ratio of 1.36. Baker Hughes A GE Co has a 52 week low of $25.53 and a 52 week high of $38.10.
Baker Hughes A GE (NYSE:BHGE) last issued its earnings results on Friday, July 20th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.04). The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.57 billion. Baker Hughes A GE had a positive return on equity of 0.43% and a negative net margin of 0.37%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. sell-side analysts anticipate that Baker Hughes A GE Co will post 0.72 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Tuesday, August 14th were paid a dividend of $0.18 per share. The ex-dividend date was Monday, August 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.27%. Baker Hughes A GE’s payout ratio is currently 138.46%.
A number of analysts have issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and issued a $38.00 target price on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Barclays reissued a “buy” rating and issued a $37.00 target price on shares of Baker Hughes A GE in a research report on Thursday, July 26th. Cowen cut their target price on Baker Hughes A GE from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Friday, July 6th. SunTrust Banks upgraded shares of Baker Hughes A GE from a “hold” rating to a “buy” rating and boosted their price target for the stock from $34.00 to $39.00 in a research note on Tuesday, July 24th. Finally, Citigroup boosted their price target on shares of Baker Hughes A GE from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, June 25th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.31.
In related news, insider Matthias L. Heilmann sold 12,000 shares of the business’s stock in a transaction on Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $408,000.00. Following the completion of the transaction, the insider now owns 3,743 shares in the company, valued at $127,262. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kurt Camilleri sold 2,513 shares of the business’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $85,442.00. The disclosure for this sale can be found here. Insiders own 0.18% of the company’s stock.
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 for onshore and offshore operations.
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