Toronto Dominion Bank cut its holdings in Baker Hughes A GE Co (NYSE:BHGE) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 302,464 shares of the company’s stock after selling 31,188 shares during the period. Toronto Dominion Bank’s holdings in Baker Hughes A GE were worth $7,448,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Perkins Coie Trust Co boosted its stake in shares of Baker Hughes A GE by 38.3% during the 2nd quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock worth $40,000 after purchasing an additional 453 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Baker Hughes A GE by 63.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock worth $28,000 after purchasing an additional 480 shares during the period. Wealthfront Advisers LLC boosted its stake in shares of Baker Hughes A GE by 1.7% during the 1st quarter. Wealthfront Advisers LLC now owns 33,916 shares of the company’s stock worth $940,000 after purchasing an additional 568 shares during the period. Securian Asset Management Inc boosted its stake in shares of Baker Hughes A GE by 1.1% during the 2nd quarter. Securian Asset Management Inc now owns 53,043 shares of the company’s stock worth $1,306,000 after purchasing an additional 573 shares during the period. Finally, Hartford Investment Management Co. boosted its stake in shares of Baker Hughes A GE by 1.3% during the 2nd quarter. Hartford Investment Management Co. now owns 56,390 shares of the company’s stock worth $1,389,000 after purchasing an additional 744 shares during the period. Hedge funds and other institutional investors own 48.33% of the company’s stock.
Shares of BHGE traded up $0.55 during mid-day trading on Monday, hitting $23.27. The company’s stock had a trading volume of 536,448 shares, compared to its average volume of 7,710,029. The company’s 50-day moving average is $22.86 and its 200-day moving average is $24.37. Baker Hughes A GE Co has a 52-week low of $20.09 and a 52-week high of $34.49. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 2.90 and a beta of 0.96. The company has a current ratio of 1.60, a quick ratio of 1.09 and a debt-to-equity ratio of 0.18.
Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.81 billion. During the same quarter in the prior year, the company earned $0.10 EPS. The company’s revenue was up 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Baker Hughes A GE Co will post 0.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.72 annualized dividend and a dividend yield of 3.09%. Baker Hughes A GE’s payout ratio is presently 109.09%.
A number of equities analysts recently commented on the stock. Bank of America dropped their price target on shares of Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, August 28th. TheStreet raised shares of Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a research report on Thursday, June 20th. Wells Fargo & Co lowered their price objective on shares of Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group set a $32.00 price objective on shares of Baker Hughes A GE and gave the company a “buy” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $34.87.
In other Baker Hughes A GE news, CEO Lorenzo Simonelli purchased 15,000 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $20.61 per share, with a total value of $309,150.00. Following the transaction, the chief executive officer now owns 113,368 shares of the company’s stock, valued at $2,336,514.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John G. Rice purchased 10,000 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $20.75 per share, with a total value of $207,500.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at approximately $311,250. The disclosure for this purchase can be found here. 0.21% of the stock is currently owned by corporate insiders.
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.
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