Short Interest in Baker Hughes, a GE company (BHGE) Declines By 40.3%

Baker Hughes, a GE company (NYSE:BHGE) saw a large decrease in short interest in October. As of October 31st, there was short interest totalling 4,834,376 shares, a decrease of 40.3% from the October 13th total of 8,103,680 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily volume of 4,315,076 shares, the short-interest ratio is presently 1.1 days.

Baker Hughes, a GE company (BHGE) traded down $1.37 during mid-day trading on Tuesday, hitting $30.51. The stock had a trading volume of 6,303,303 shares, compared to its average volume of 3,860,000. Baker Hughes, a GE company has a 52 week low of $29.62 and a 52 week high of $40.82.

Baker Hughes, a GE company (NYSE:BHGE) last posted its earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.07). The firm had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.52 billion. The business’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. Investors of record on Monday, November 6th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.36%. This is an increase from Baker Hughes, a GE company’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, November 3rd.

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

Several institutional investors and hedge funds have recently modified their holdings of BHGE. ValueAct Holdings L.P. purchased a new stake in shares of Baker Hughes, a GE company during the third quarter valued at approximately $1,150,154,000. American Century Companies Inc. purchased a new stake in shares of Baker Hughes, a GE company during the third quarter valued at approximately $219,160,000. TCW Group Inc. purchased a new stake in shares of Baker Hughes, a GE company during the third quarter valued at approximately $139,949,000. Bank of New York Mellon Corp purchased a new stake in shares of Baker Hughes, a GE company during the third quarter valued at approximately $126,754,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of Baker Hughes, a GE company during the third quarter valued at approximately $84,073,000.

Several equities research analysts recently commented on BHGE shares. Cowen and Company set a $50.00 target price on Baker Hughes, a GE company and gave the company a “buy” rating in a research report on Wednesday, October 18th. Seaport Global Securities reiterated a “neutral” rating on shares of Baker Hughes, a GE company in a report on Thursday, July 20th. Morgan Stanley set a $53.00 price target on Baker Hughes, a GE company and gave the stock a “buy” rating in a report on Monday, October 23rd. Barclays PLC set a $41.00 price target on Baker Hughes, a GE company and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, B. Riley reiterated a “neutral” rating on shares of Baker Hughes, a GE company in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company. Baker Hughes, a GE company currently has a consensus rating of “Hold” and an average price target of $40.74.

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