FDx Advisors Inc. Invests $270,000 in Baker Hughes A GE Co (BHGE)
FDx Advisors Inc. bought a new position in shares of Baker Hughes A GE Co (NYSE:BHGE) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,974 shares of the company’s stock, valued at approximately $270,000.
Other large investors have also added to or reduced their stakes in the company. Schroder Investment Management Group bought a new position in Baker Hughes A GE during the second quarter valued at approximately $125,000. Gofen & Glossberg LLC IL bought a new position in Baker Hughes A GE during the third quarter valued at approximately $203,000. XR Securities LLC bought a new position in Baker Hughes A GE during the third quarter valued at approximately $212,000. Private Advisor Group LLC bought a new position in Baker Hughes A GE during the third quarter valued at approximately $214,000. Finally, Mission Wealth Management LP bought a new position in Baker Hughes A GE during the second quarter valued at approximately $225,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.
In related news, 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 transaction of $2,273,964,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by company insiders.
Baker Hughes A GE (NYSE:BHGE) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. The company had revenue of $5.67 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the business earned $0.05 earnings per share. Baker Hughes A GE’s revenue for the quarter was up 6.9% on a year-over-year basis. Research analysts expect that Baker Hughes A GE Co will post 0.64 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 16th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date was Thursday, November 15th. Baker Hughes A GE’s dividend payout ratio is currently 138.46%.
BHGE has been the subject of a number of research reports. B. Riley raised Baker Hughes A GE from a “neutral” rating to a “buy” rating and increased their price target for the company from $36.00 to $42.00 in a research note on Monday, August 20th. Stifel Nicolaus assumed coverage on Baker Hughes A GE in a research note on Monday, September 10th. They set a “buy” rating and a $40.00 price target for the company. Morgan Stanley assumed coverage on Baker Hughes A GE in a research note on Tuesday, September 18th. They issued an “overweight” rating and a $40.00 price objective for the company. HSBC lowered their price objective on Baker Hughes A GE to $40.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Finally, Jefferies Financial Group raised Baker Hughes A GE from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research note on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Baker Hughes A GE currently has an average rating of “Buy” and an average price target of $36.36.
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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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