Clinton Group Inc. Buys New Position in Baker Hughes A GE Co (BHI)
Clinton Group Inc. bought a new stake in Baker Hughes A GE Co (NYSE:BHI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 26,429 shares of the oilfield services provider’s stock, valued at approximately $1,441,000.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Baker Hughes A GE by 1,858.5% in the 1st quarter. BlackRock Inc. now owns 32,833,178 shares of the oilfield services provider’s stock valued at $1,964,079,000 after buying an additional 31,156,767 shares during the period. ValueAct Holdings L.P. grew its holdings in Baker Hughes A GE by 14.6% in the first quarter. ValueAct Holdings L.P. now owns 31,407,820 shares of the oilfield services provider’s stock valued at $1,878,816,000 after purchasing an additional 4,000,000 shares during the period. Janus Capital Management LLC grew its holdings in Baker Hughes A GE by 3,529.3% in the first quarter. Janus Capital Management LLC now owns 1,925,065 shares of the oilfield services provider’s stock valued at $115,157,000 after purchasing an additional 1,872,022 shares during the period. Ameriprise Financial Inc. grew its holdings in Baker Hughes A GE by 37.5% in the second quarter. Ameriprise Financial Inc. now owns 6,491,326 shares of the oilfield services provider’s stock valued at $353,840,000 after purchasing an additional 1,770,840 shares during the period. Finally, Eaton Vance Management purchased a new stake in Baker Hughes A GE in the second quarter valued at approximately $63,949,000. Hedge funds and other institutional investors own 91.32% of the company’s stock.
BHI has been the subject of several research reports. Royal Bank Of Canada set a $72.00 price objective on shares of Baker Hughes A GE and gave the company a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research cut Baker Hughes A GE from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Guggenheim downgraded Baker Hughes A GE from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 27th. HSBC Holdings plc reissued a “hold” rating and set a $58.00 price target (down previously from $60.00) on shares of Baker Hughes A GE in a research report on Thursday, June 22nd. Finally, BidaskClub upgraded Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $62.72.
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Baker Hughes A GE Co (BHI) traded up 5.82% during midday trading on Wednesday, hitting $57.68. The stock had a trading volume of 4,124,512 shares. The stock’s 50 day moving average price is $55.90 and its 200-day moving average price is $59.83. Baker Hughes A GE Co has a 52 week low of $43.09 and a 52 week high of $68.59.
About Baker Hughes A GE
Baker Hughes, a GE Company is an oil and gas company. The Company is a provider of integrated oilfield products, services and digital solutions. The Company’s products and services include upstream, midstream, downstream, industrial and digital. The Company’s upstream, which includes evaluation, drilling, completions and production.
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