Wells Fargo & Company MN bought a new stake in Baker Hughes Incorporated (NYSE:BHGE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,054,705 shares of the company’s stock, valued at approximately $75,244,000. Wells Fargo & Company MN owned approximately 0.48% of Baker Hughes as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also bought and sold shares of the stock. Amalgamated Bank purchased a new position in shares of Baker Hughes in the third quarter valued at $1,789,000. Twin Capital Management Inc. purchased a new position in shares of Baker Hughes in the third quarter valued at $1,604,000. Dai Ichi Life Insurance Company Ltd purchased a new position in shares of Baker Hughes in the third quarter valued at $3,261,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Baker Hughes in the third quarter valued at $2,452,000. Finally, Achmea Investment Management B.V. purchased a new position in shares of Baker Hughes in the third quarter valued at $332,000. 89.48% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. Cowen reissued an “outperform” rating and issued a $55.00 target price on shares of Baker Hughes in a report on Wednesday, August 23rd. Jefferies Group restated a “hold” rating and issued a $40.00 price target (down from $67.00) on shares of Baker Hughes in a research report on Wednesday, August 9th. Susquehanna Bancshares restated a “neutral” rating and issued a $38.00 price target (down from $42.00) on shares of Baker Hughes in a research report on Monday, October 2nd. Royal Bank Of Canada set a $55.00 price target on Baker Hughes and gave the stock a “buy” rating in a research report on Saturday, August 12th. Finally, Argus initiated coverage on Baker Hughes in a research report on Sunday, August 27th. They issued a “buy” rating for the company. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.74.
Shares of Baker Hughes Incorporated (NYSE:BHGE) opened at $30.51 on Thursday. Baker Hughes Incorporated has a 52-week low of $29.62 and a 52-week high of $68.59. The company has a current ratio of 1.90, a quick ratio of 1.29 and a debt-to-equity ratio of 0.08.
Baker Hughes (NYSE:BHGE) last released its earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). Baker Hughes had a negative return on equity of 0.84% and a negative net margin of 6.66%. The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.52 billion. The company’s revenue for the quarter was up 77.7% compared to the same quarter last year. sell-side analysts predict that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.
The firm also recently announced 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. This represents a $0.72 annualized dividend and a dividend yield of 2.36%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, November 3rd. Baker Hughes’s dividend payout ratio (DPR) is -111.34%.
In other Baker Hughes news, insider Matthias L. Heilmann bought 1,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was acquired at an average cost 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 $105,140. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.66% of the stock is currently owned by company insiders.
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