Baker Hughes A GE Co (BHGE) Stake Decreased by Hexavest Inc.

Hexavest Inc. decreased its holdings in Baker Hughes A GE Co (NYSE:BHGE) by 55.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,070 shares of the company’s stock after selling 13,628 shares during the period. Hexavest Inc.’s holdings in Baker Hughes A GE were worth $374,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TCW Group Inc. boosted its stake in Baker Hughes A GE by 13.5% during the second quarter. TCW Group Inc. now owns 4,409,766 shares of the company’s stock valued at $145,654,000 after buying an additional 523,729 shares during the last quarter. Millennium Management LLC boosted its stake in Baker Hughes A GE by 521.2% during the second quarter. Millennium Management LLC now owns 4,112,049 shares of the company’s stock valued at $135,821,000 after buying an additional 3,450,049 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Baker Hughes A GE by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock valued at $135,150,000 after buying an additional 65,666 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Baker Hughes A GE by 471.0% during the first quarter. The Manufacturers Life Insurance Company now owns 2,534,455 shares of the company’s stock valued at $70,382,000 after buying an additional 2,090,578 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its stake in Baker Hughes A GE by 5.1% during the first quarter. Guggenheim Capital LLC now owns 1,965,512 shares of the company’s stock valued at $54,582,000 after buying an additional 95,089 shares during the last quarter. 93.88% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE BHGE opened at $30.85 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.36 and a debt-to-equity ratio of 0.17. Baker Hughes A GE Co has a fifty-two week low of $25.53 and a fifty-two week high of $37.76. The company has a market capitalization of $13.93 billion, a PE ratio of 59.33, a price-to-earnings-growth ratio of 5.84 and a beta of 0.70.

Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings results on Friday, July 20th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.04). Baker Hughes A GE had a positive return on equity of 0.43% and a negative net margin of 0.37%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.57 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Baker Hughes A GE Co will post 0.72 earnings per share for the current year.

In other news, insider Matthias L. Heilmann sold 12,000 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $408,000.00. Following the sale, the insider now directly owns 3,743 shares in the company, valued at $127,262. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Kurt Camilleri sold 2,513 shares of the stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $34.00, for a total value of $85,442.00. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company’s stock.

Several research firms have recently issued reports on BHGE. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Baker Hughes A GE in a research note on Monday, July 23rd. Barclays reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Baker Hughes A GE in a research note on Thursday, July 26th. Cowen lowered their price objective on Baker Hughes A GE from $50.00 to $40.00 and set an “outperform” rating for the company in a research note on Friday, July 6th. Wolfe Research began coverage on Baker Hughes A GE in a research note on Wednesday. They issued an “outperform” rating for the company. Finally, SunTrust Banks raised Baker Hughes A GE from a “hold” rating to a “buy” rating and raised their price objective for the company from $34.00 to $39.00 in a research note on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $37.57.

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 for onshore and offshore operations.

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

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