Municipal Employees Retirement System of Michigan Takes Position in Baker Hughes Incorporated (BHGE)
Municipal Employees Retirement System of Michigan bought a new position in Baker Hughes Incorporated (NYSE:BHGE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 11,060 shares of the company’s stock, valued at approximately $405,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Bank & Trust acquired a new position in shares of Baker Hughes in the 3rd quarter worth approximately $101,000. Trust Co. of Vermont bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $105,000. Carroll Financial Associates Inc. bought a new stake in shares of Baker Hughes in the 3rd quarter worth approximately $136,000. M&R Capital Management Inc. bought a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $141,000. Finally, Fairpointe Capital LLC bought a new stake in shares of Baker Hughes in the 2nd quarter worth approximately $229,000. Institutional investors own 89.48% of the company’s stock.
In other Baker Hughes news, insider Matthias L. Heilmann bought 1,500 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were purchased at an average price of $30.04 per share, with a total value of $45,060.00. Following the purchase, the insider now directly owns 3,500 shares of the company’s stock, valued at $105,140. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by insiders.
Shares of Baker Hughes Incorporated (NYSE:BHGE) opened at $30.37 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.29. Baker Hughes Incorporated has a 12 month low of $29.62 and a 12 month high of $68.59.
Baker Hughes (NYSE:BHGE) last announced its earnings results on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.07). The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The firm’s quarterly revenue was up 77.7% on a year-over-year basis. research analysts anticipate that Baker Hughes Incorporated will post 0.41 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th were paid a dividend of $0.18 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.72 annualized dividend and a yield of 2.37%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. Baker Hughes’s payout ratio is presently -111.34%.
BHGE has been the topic of several recent research reports. Zacks Investment Research downgraded Baker Hughes from a “hold” rating to a “sell” rating in a report on Tuesday, September 5th. Scotiabank set a $44.00 price target on Baker Hughes and gave the stock a “hold” rating in a report on Saturday, October 21st. Citigroup cut their price target on Baker Hughes from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Barclays set a $41.00 price target on Baker Hughes and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Cowen reissued an “outperform” rating and issued a $50.00 price target on shares of Baker Hughes in a report on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $40.74.
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