ARGA Investment Management LP purchased a new position in Baker Hughes Incorporated (NYSE:BHGE) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 40,400 shares of the company’s stock, valued at approximately $1,479,000.
Other large investors also recently modified their holdings of the company. Stonebridge Capital Management Inc. bought a new stake in shares of Baker Hughes in the third quarter worth $594,000. South Dakota Investment Council bought a new stake in Baker Hughes during the second quarter valued at $4,610,000. Edge Wealth Management LLC bought a new stake in Baker Hughes during the third quarter valued at $378,000. Osborn Williams & Donohoe LLC bought a new stake in Baker Hughes during the third quarter valued at $514,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in Baker Hughes during the third quarter valued at $2,790,000. Institutional investors and hedge funds own 84.69% of the company’s stock.
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Baker Hughes Incorporated (BHGE) traded up $0.05 during trading on Thursday, hitting $30.71. 3,378,900 shares of the stock traded hands, compared to its average volume of 3,042,100. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.29. Baker Hughes Incorporated has a fifty-two week low of $29.62 and a fifty-two week high of $68.59.
Baker Hughes (NYSE:BHGE) last released its quarterly earnings results on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). The firm had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes had a negative return on equity of 0.84% and a negative net margin of 6.66%. The business’s quarterly revenue was up 77.7% compared to the same quarter last year. equities research analysts predict that Baker Hughes Incorporated will post 0.41 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.72 annualized dividend and a dividend yield of 2.34%. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. Baker Hughes’s dividend payout ratio is currently -111.34%.
Several research firms have weighed in on BHGE. Jefferies Group LLC reiterated a “hold” rating and set a $40.00 target price (down previously from $67.00) on shares of Baker Hughes in a research note on Wednesday, August 9th. Argus began coverage on shares of Baker Hughes in a research note on Monday, August 21st. They set a “buy” rating and a $43.00 target price for the company. UBS Group AG lowered shares of Baker Hughes from a “positive” rating to a “neutral” rating in a research note on Monday, October 2nd. Citigroup Inc. lowered their target price on shares of Baker Hughes from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Finally, Barclays PLC set a $43.00 target price on shares of Baker Hughes and gave the company an “overweight” rating in a research note on Friday, September 29th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.74.
In related news, insider Matthias L. Heilmann acquired 1,500 shares of Baker Hughes stock in a transaction that occurred on Thursday, October 26th. The stock was acquired at an average price of $30.04 per share, with a total value of $45,060.00. Following the completion of the acquisition, the insider now directly owns 3,500 shares of the company’s stock, valued at approximately $105,140. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.
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