Bremer Bank National Association Acquires New Stake in Baker Hughes A GE Co (BHGE)
Bremer Bank National Association acquired a new position in Baker Hughes A GE Co (NYSE:BHGE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,592 shares of the company’s stock, valued at approximately $38,000.
A number of other large investors have also added to or reduced their stakes in BHGE. BlackRock Inc. raised its position in Baker Hughes A GE by 31.9% in the fourth quarter. BlackRock Inc. now owns 35,009,945 shares of the company’s stock worth $752,716,000 after acquiring an additional 8,467,168 shares in the last quarter. Norges Bank purchased a new position in Baker Hughes A GE in the fourth quarter worth $110,806,000. Pzena Investment Management LLC raised its position in Baker Hughes A GE by 1,163.7% in the first quarter. Pzena Investment Management LLC now owns 5,540,588 shares of the company’s stock worth $153,585,000 after acquiring an additional 5,102,148 shares in the last quarter. Millennium Management LLC raised its position in Baker Hughes A GE by 72.5% in the fourth quarter. Millennium Management LLC now owns 10,141,107 shares of the company’s stock worth $218,034,000 after acquiring an additional 4,260,917 shares in the last quarter. Finally, FMR LLC raised its position in Baker Hughes A GE by 11.7% in the fourth quarter. FMR LLC now owns 36,476,714 shares of the company’s stock worth $784,250,000 after acquiring an additional 3,826,019 shares in the last quarter. Hedge funds and other institutional investors own 96.03% of the company’s stock.
Baker Hughes A GE stock opened at $21.84 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.11 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 0.73 and a beta of 0.84. Baker Hughes A GE Co has a fifty-two week low of $20.09 and a fifty-two week high of $35.68.
The company also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Tuesday, May 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, May 20th. Baker Hughes A GE’s dividend payout ratio (DPR) is 109.09%.
BHGE has been the subject of several research analyst reports. Royal Bank of Canada cut their price objective on Baker Hughes A GE to $33.00 and set an “average” rating for the company in a research report on Wednesday, May 1st. Societe Generale initiated coverage on Baker Hughes A GE in a research report on Wednesday, February 27th. They issued a “buy” rating and a $36.00 price objective for the company. Goldman Sachs Group initiated coverage on Baker Hughes A GE in a research report on Sunday, March 10th. They issued a “conviction-buy” rating and a $36.00 price objective for the company. Morgan Stanley cut Baker Hughes A GE from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Saturday, March 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $35.56.
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Baker Hughes A GE Company Profile
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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