Wedbush Securities Inc. Grows Position in Baker Hughes A GE Co (NYSE:BHGE)

Wedbush Securities Inc. increased its position in shares of Baker Hughes A GE Co (NYSE:BHGE) by 10.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,050 shares of the company’s stock after buying an additional 1,500 shares during the quarter. Wedbush Securities Inc.’s holdings in Baker Hughes A GE were worth $395,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in BHGE. Kornitzer Capital Management Inc. KS lifted its holdings in shares of Baker Hughes A GE by 11.4% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 30,380 shares of the company’s stock valued at $748,000 after buying an additional 3,105 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Baker Hughes A GE by 83.3% in the 2nd quarter. Janus Henderson Group PLC now owns 451,203 shares of the company’s stock valued at $11,113,000 after buying an additional 205,013 shares during the period. Aperio Group LLC lifted its holdings in shares of Baker Hughes A GE by 3.6% in the 2nd quarter. Aperio Group LLC now owns 401,301 shares of the company’s stock valued at $9,884,000 after buying an additional 14,078 shares during the period. AGF Investments LLC lifted its holdings in shares of Baker Hughes A GE by 70.7% in the 2nd quarter. AGF Investments LLC now owns 13,608 shares of the company’s stock valued at $335,000 after buying an additional 5,634 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Baker Hughes A GE by 3.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 164,383 shares of the company’s stock valued at $4,049,000 after buying an additional 4,936 shares during the period. Hedge funds and other institutional investors own 96.03% of the company’s stock.

Shares of BHGE stock opened at $21.06 on Friday. The stock has a fifty day moving average price of $24.17 and a 200 day moving average price of $24.79. The stock has a market cap of $22.84 billion, a PE ratio of 31.91, a P/E/G ratio of 2.81 and a beta of 0.91. Baker Hughes A GE Co has a 1 year low of $20.09 and a 1 year high of $34.49. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.60.

Baker Hughes A GE (NYSE:BHGE) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.81 billion. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. Baker Hughes A GE’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.10 earnings per share. As a group, equities research analysts predict that Baker Hughes A GE Co will post 0.98 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend is Monday, August 12th. Baker Hughes A GE’s payout ratio is 109.09%.

Several research firms have recently commented on BHGE. Credit Suisse Group raised their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Royal Bank of Canada reduced their price objective on Baker Hughes A GE to $33.00 and set an “average” rating for the company in a report on Wednesday, May 1st. Wells Fargo & Co reduced their price objective on Baker Hughes A GE from $37.00 to $34.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. AltaCorp Capital reaffirmed an “outperform” rating on shares of Baker Hughes A GE in a report on Thursday, June 20th. Finally, TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $35.44.

In related news, CEO Lorenzo Simonelli purchased 15,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $20.61 per share, with a total value of $309,150.00. Following the completion of the transaction, the chief executive officer now owns 113,368 shares of the company’s stock, valued at approximately $2,336,514.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $20.75 per share, with a total value of $207,500.00. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $311,250. The disclosure for this purchase can be found here. Company insiders own 0.21% of the company’s stock.

Baker Hughes A GE 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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Institutional Ownership by Quarter for Baker Hughes A GE (NYSE:BHGE)

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