Flippin Bruce & Porter Inc. Invests $1.40 Million in Baker Hughes, a GE company Class A (BHGE) Stock

Flippin Bruce & Porter Inc. acquired a new position in shares of Baker Hughes, a GE company Class A (NASDAQ:BHGE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,126 shares of the company’s stock, valued at approximately $1,396,000.

Other hedge funds also recently modified their holdings of the company. First Bank & Trust bought a new stake in shares of Baker Hughes, a GE company Class A during the third quarter worth $101,000. Trust Co. of Vermont bought a new stake in shares of Baker Hughes, a GE company Class A during the third quarter worth $105,000. Carroll Financial Associates Inc. bought a new stake in shares of Baker Hughes, a GE company Class A during the third quarter worth $136,000. Advisor Group Inc. bought a new stake in shares of Baker Hughes, a GE company Class A during the third quarter worth $140,000. Finally, M&R Capital Management Inc. bought a new stake in shares of Baker Hughes, a GE company Class A during the second quarter worth $141,000.

In other Baker Hughes, a GE company Class A news, insider Matthias L. Heilmann purchased 1,500 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were purchased at an average price of $30.04 per share, for a total transaction of $45,060.00. Following the completion of the transaction, the insider now owns 3,500 shares in the company, valued at approximately $105,140. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lorenzo Simonelli purchased 6,100 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was acquired at an average price of $32.99 per share, for a total transaction of $201,239.00. Following the transaction, the insider now owns 9,139 shares of the company’s stock, valued at approximately $301,495.61. The disclosure for this purchase can be found here.

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Several equities research analysts have recently issued reports on BHGE shares. FBR & Co started coverage on shares of Baker Hughes, a GE company Class A in a research report on Monday, July 17th. They set a “market perform” rating and a $42.00 price objective for the company. Morgan Stanley reissued an “overweight” rating and set a $60.00 price objective on shares of Baker Hughes, a GE company Class A in a research report on Monday, July 17th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $37.00 price objective on shares of Baker Hughes, a GE company Class A in a research report on Tuesday, July 18th. Seaport Global Securities reissued a “neutral” rating on shares of Baker Hughes, a GE company Class A in a research report on Thursday, July 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $40.00 price objective (down previously from $67.00) on shares of Baker Hughes, a GE company Class A in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Baker Hughes, a GE company Class A has a consensus rating of “Hold” and a consensus price target of $40.74.

Shares of Baker Hughes, a GE company Class A (BHGE) traded down $1.66 on Tuesday, reaching $30.22. 3,258,393 shares of the company traded hands, compared to its average volume of 3,860,000. Baker Hughes, a GE company Class A has a fifty-two week low of $29.62 and a fifty-two week high of $40.82.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last posted its quarterly earnings results on Friday, October 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.07). The business had revenue of $5.38 billion for the quarter, compared to analysts’ expectations of $5.52 billion. The company’s revenue for the quarter was up 77.7% on a year-over-year basis.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be given a $0.18 dividend. This is a positive change from Baker Hughes, a GE company Class A’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, November 3rd. This represents a $0.72 annualized dividend and a yield of 2.38%.

Want to see what other hedge funds are holding BHGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes, a GE company Class A (NASDAQ:BHGE).

Institutional Ownership by Quarter for Baker Hughes, a GE company Class A (NASDAQ:BHGE)

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