Baker Hughes A GE (BHGE) Reaches New 1-Year Low Following Insider Selling
Baker Hughes A GE Co (NYSE:BHGE)’s share price hit a new 52-week low during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $21.90 and last traded at $22.41, with a volume of 5713626 shares. The stock had previously closed at $23.00.
Specifically, Director Electric Co General sold 101,200,000 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $22.47, for a total value of $2,273,964,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is owned by company insiders.
Several equities analysts recently issued reports on the company. Piper Jaffray Companies reaffirmed a “buy” rating and set a $38.00 price objective on shares of Baker Hughes A GE in a report on Monday, July 23rd. Guggenheim raised Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a report on Wednesday, October 31st. Barclays reaffirmed a “buy” rating and set a $37.00 price objective on shares of Baker Hughes A GE in a report on Thursday, July 26th. Wolfe Research assumed coverage on Baker Hughes A GE in a report on Wednesday, October 10th. They set an “outperform” rating for the company. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Baker Hughes A GE in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the company. Baker Hughes A GE presently has a consensus rating of “Buy” and an average target price of $36.79.
Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02). The business had revenue of $5.67 billion during the quarter, compared to analysts’ expectations of $5.88 billion. Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. Baker Hughes A GE’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.05 EPS. Analysts predict that Baker Hughes A GE Co will post 0.64 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Thursday, November 15th. Baker Hughes A GE’s dividend payout ratio is currently 138.46%.
Several large investors have recently made changes to their positions in the company. Schroder Investment Management Group acquired a new position in shares of Baker Hughes A GE during the second quarter worth about $125,000. Gofen & Glossberg LLC IL acquired a new position in shares of Baker Hughes A GE during the third quarter worth about $203,000. First Republic Investment Management Inc. acquired a new position in shares of Baker Hughes A GE during the third quarter worth about $208,000. XR Securities LLC acquired a new position in shares of Baker Hughes A GE during the third quarter worth about $212,000. Finally, Putnam Investments LLC acquired a new position in shares of Baker Hughes A GE during the third quarter worth about $212,000. 92.91% of the stock is owned by institutional investors and hedge funds.
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Baker Hughes A GE Company Profile (NYSE:BHGE)
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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