45,812 Shares in Baker Hughes Incorporated (BHGE) Purchased by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky acquired a new stake in Baker Hughes Incorporated (NYSE:BHGE) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 45,812 shares of the company’s stock, valued at approximately $1,678,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. American International Group Inc. bought a new stake in shares of Baker Hughes in the 3rd quarter valued at $5,998,000. ARGA Investment Management LP bought a new position in Baker Hughes during the 3rd quarter worth about $1,479,000. Van ECK Associates Corp bought a new position in Baker Hughes during the 3rd quarter worth about $78,568,000. Oppenheimer & Co. Inc. bought a new position in Baker Hughes during the 3rd quarter worth about $253,000. Finally, Davidson Investment Advisors bought a new position in Baker Hughes during the 3rd quarter worth about $5,534,000. Institutional investors and hedge funds own 89.52% of the company’s stock.
In other news, insider Matthias L. Heilmann bought 1,500 shares of the business’s stock in a transaction that occurred on 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 purchase, the insider now owns 3,500 shares of the company’s stock, valued at approximately $105,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.
A number of research firms have issued reports on BHGE. Cowen reiterated an “outperform” rating and set a $55.00 target price on shares of Baker Hughes in a report on Wednesday, August 23rd. Jefferies Group reiterated a “hold” rating and set a $40.00 target price (down previously from $67.00) on shares of Baker Hughes in a report on Wednesday, August 9th. Susquehanna Bancshares reiterated a “neutral” rating and set a $38.00 target price (down previously from $42.00) on shares of Baker Hughes in a report on Monday, October 2nd. Royal Bank Of Canada set a $55.00 target price on Baker Hughes and gave the stock a “buy” rating in a report on Saturday, August 12th. Finally, Argus began coverage on Baker Hughes in a report on Sunday, August 27th. They set a “buy” rating for the company. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Baker Hughes has a consensus rating of “Hold” and a consensus target price of $40.74.
Baker Hughes Incorporated (BHGE) opened at $29.98 on Thursday. Baker Hughes Incorporated has a one year low of $29.62 and a one year high of $68.59. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.90.
Baker Hughes (NYSE:BHGE) last posted its quarterly earnings data on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing the Zacks’ 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 analyst estimates of $5.52 billion. The business’s revenue for the quarter was up 77.7% on a year-over-year basis. research analysts forecast that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. Baker Hughes’s dividend payout ratio is currently -32.98%.
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