Van ECK Associates Corp Reduces Position in Baker Hughes A GE Co (BHGE)

Share on StockTwits

Van ECK Associates Corp lowered its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 26.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,105,093 shares of the company’s stock after selling 740,111 shares during the period. Van ECK Associates Corp owned approximately 0.51% of Baker Hughes A GE worth $69,531,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Rational Advisors LLC purchased a new position in shares of Baker Hughes A GE during the first quarter valued at approximately $139,000. Indiana Trust & Investment Management CO bought a new position in Baker Hughes A GE during the second quarter valued at $205,000. Rathbone Brothers plc bought a new position in Baker Hughes A GE during the second quarter valued at $210,000. Kanawha Capital Management LLC purchased a new stake in shares of Baker Hughes A GE in the second quarter valued at $213,000. Finally, Lyell Wealth Management LP purchased a new stake in shares of Baker Hughes A GE in the second quarter valued at $218,000. 93.84% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on BHGE. Zacks Investment Research downgraded shares of Baker Hughes A GE from a “hold” rating to a “sell” rating in a research report on Tuesday, July 10th. B. Riley upgraded shares of Baker Hughes A GE from a “neutral” rating to a “buy” rating and raised their price target for the company from $36.00 to $42.00 in a report on Monday, August 20th. Barclays restated a “buy” rating and issued a $37.00 price target on shares of Baker Hughes A GE in a report on Thursday, July 26th. Piper Jaffray Companies restated a “buy” rating and issued a $38.00 price target on shares of Baker Hughes A GE in a report on Monday, July 23rd. Finally, Citigroup raised their price target on shares of Baker Hughes A GE from $40.00 to $43.00 and gave the company a “buy” rating in a report on Monday, June 25th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $37.31.

In related news, VP Kurt Camilleri sold 2,513 shares of Baker Hughes A GE stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $85,442.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Matthias L. Heilmann sold 12,000 shares of Baker Hughes A GE stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the sale, the insider now owns 3,743 shares of the company’s stock, valued at approximately $127,262. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

NYSE:BHGE opened at $31.67 on Thursday. The company has a quick ratio of 1.36, a current ratio of 1.90 and a debt-to-equity ratio of 0.17. The company has a market cap of $13.57 billion, a PE ratio of 60.90, a PEG ratio of 5.69 and a beta of 0.72. Baker Hughes A GE Co has a 1-year low of $25.53 and a 1-year high of $38.10.

Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings results on Friday, July 20th. The company reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.04). The company 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%. Baker Hughes A GE’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. analysts expect that Baker Hughes A GE Co will post 0.72 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 24th. Shareholders of record on Tuesday, August 14th were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.27%. The ex-dividend date was Monday, August 13th. Baker Hughes A GE’s payout ratio is 138.46%.

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.

Featured Story: What is the NASDAQ?

Institutional Ownership by Quarter for Baker Hughes A GE (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.

Leave a Reply