Pictet Asset Management Ltd. Sells 91,500 Shares of Baker Hughes A GE Co (NYSE:BHGE)

Pictet Asset Management Ltd. lessened its stake in shares of Baker Hughes A GE Co (NYSE:BHGE) by 34.7% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 172,021 shares of the company’s stock after selling 91,500 shares during the period. Pictet Asset Management Ltd.’s holdings in Baker Hughes A GE were worth $4,237,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Centaurus Financial Inc. bought a new position in shares of Baker Hughes A GE during the 1st quarter valued at about $33,000. Commonwealth Bank of Australia boosted its holdings 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 valued at $28,000 after purchasing an additional 480 shares during the last quarter. Bremer Bank National Association bought a new position in shares of Baker Hughes A GE during the 1st quarter valued at about $38,000. Perkins Coie Trust Co boosted its holdings 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 valued at $40,000 after purchasing an additional 453 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC bought a new position in shares of Baker Hughes A GE during the 1st quarter valued at about $59,000. 48.33% of the stock is owned by institutional investors and hedge funds.

In other news, insider Uwem Ukpong sold 16,686 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $23.62, for a total value of $394,123.32. Following the sale, the insider now directly owns 271 shares of the company’s stock, valued at approximately $6,401.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lorenzo Simonelli purchased 15,000 shares of Baker Hughes A GE stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $20.61 per share, for a total transaction of $309,150.00. Following the completion of the purchase, the chief executive officer now directly owns 113,368 shares in the company, valued at approximately $2,336,514.48. The disclosure for this purchase can be found here. Insiders own 0.21% of the company’s stock.

Shares of NYSE BHGE traded down $0.47 during trading on Tuesday, hitting $23.34. The company had a trading volume of 2,482,337 shares, compared to its average volume of 7,952,512. The stock has a fifty day simple moving average of $22.76 and a two-hundred day simple moving average of $24.32. Baker Hughes A GE Co has a fifty-two week low of $20.09 and a fifty-two week high of $34.49. The firm has a market capitalization of $23.58 billion, a price-to-earnings ratio of 35.36, a price-to-earnings-growth ratio of 2.92 and a beta of 0.96. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18.

Baker Hughes A GE (NYSE:BHGE) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. Baker Hughes A GE’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. On average, analysts anticipate that Baker Hughes A GE Co will post 0.97 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.72 annualized dividend and a yield of 3.08%. Baker Hughes A GE’s payout ratio is 109.09%.

Several research firms have commented on BHGE. Wells Fargo & Co dropped 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 report on Thursday, September 12th. AltaCorp Capital reissued an “outperform” rating on shares of Baker Hughes A GE in a report on Thursday, June 20th. 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 report on Thursday, June 6th. TheStreet raised shares of Baker Hughes A GE from a “d+” rating to a “c-” rating in a report on Thursday, June 20th. Finally, Bank of America dropped their price objective on shares of Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $34.87.

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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Institutional Ownership by Quarter for Baker Hughes A GE (NYSE:BHGE)

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