M&T Bank Corp raised its stake in Baker Hughes A GE Co (NYSE:BHGE) by 18.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 32,777 shares of the company’s stock after buying an additional 5,160 shares during the period. M&T Bank Corp’s holdings in Baker Hughes A GE were worth $808,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Baker Hughes A GE by 8.8% in the 1st quarter. BlackRock Inc. now owns 38,089,819 shares of the company’s stock worth $1,055,851,000 after acquiring an additional 3,079,874 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Baker Hughes A GE by 24.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 11,739,780 shares of the company’s stock worth $325,427,000 after buying an additional 2,301,773 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of Baker Hughes A GE by 14.1% in the 2nd quarter. Pzena Investment Management LLC now owns 6,319,078 shares of the company’s stock worth $155,639,000 after buying an additional 778,490 shares in the last quarter. Northern Trust Corp grew its stake in Baker Hughes A GE by 9.1% in the 1st quarter. Northern Trust Corp now owns 6,139,410 shares of the company’s stock valued at $170,185,000 after acquiring an additional 510,503 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Baker Hughes A GE by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock valued at $129,283,000 after acquiring an additional 1,432,685 shares during the last quarter. Institutional investors own 48.39% of the company’s stock.

Shares of NYSE:BHGE traded down $0.90 during trading on Wednesday, reaching $23.21. The stock had a trading volume of 242,156 shares, compared to its average volume of 4,322,762. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. The stock has a market cap of $25.10 billion, a P/E ratio of 35.17, a PEG ratio of 3.08 and a beta of 0.96. The business has a fifty day moving average price of $22.94 and a 200-day moving average price of $24.41. Baker Hughes A GE Co has a fifty-two week low of $20.09 and a fifty-two week high of $34.49.

Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. As a group, equities analysts forecast that Baker Hughes A GE Co will post 0.98 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Monday, August 12th. Baker Hughes A GE’s dividend payout ratio is presently 109.09%.

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

BHGE has been the subject of a number of research reports. Jefferies Financial Group set a $32.00 target price on shares of Baker Hughes A GE and gave the stock a “buy” rating in a research report on Thursday, June 6th. Bank of America lowered their price target on shares of Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, August 28th. Credit Suisse Group raised their price objective on shares of Baker Hughes A GE from $27.00 to $28.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. TheStreet upgraded Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of Baker Hughes A GE in a research note on Thursday, June 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $35.13.

About Baker Hughes A GE

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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