Baker Hughes A GE Co (NYSE:BHGE) Shares Sold by First American Trust FSB

First American Trust FSB lowered its stake in shares of Baker Hughes A GE Co (NYSE:BHGE) by 1.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,196 shares of the company’s stock after selling 2,234 shares during the period. First American Trust FSB’s holdings in Baker Hughes A GE were worth $3,809,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hartford Investment Management Co. raised its position in Baker Hughes A GE by 1.3% in the second quarter. Hartford Investment Management Co. now owns 56,390 shares of the company’s stock valued at $1,389,000 after purchasing an additional 744 shares during the period. Korea Investment CORP raised its holdings in shares of Baker Hughes A GE by 121.1% in the 2nd quarter. Korea Investment CORP now owns 232,800 shares of the company’s stock valued at $5,734,000 after buying an additional 127,500 shares during the period. Shulman DeMeo Asset Management LLC purchased a new stake in shares of Baker Hughes A GE in the 2nd quarter valued at $265,000. Cubist Systematic Strategies LLC raised its holdings in shares of Baker Hughes A GE by 67.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,936 shares of the company’s stock valued at $565,000 after buying an additional 9,274 shares during the period. Finally, Glen Harbor Capital Management LLC raised its holdings in shares of Baker Hughes A GE by 104.6% in the 2nd quarter. Glen Harbor Capital Management LLC now owns 83,912 shares of the company’s stock valued at $2,067,000 after buying an additional 42,908 shares during the period. 48.38% of the stock is currently owned by institutional investors.

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

Shares of BHGE stock traded up $0.16 during mid-day trading on Thursday, hitting $21.77. 84,976 shares of the company’s stock were exchanged, compared to its average volume of 12,770,978. Baker Hughes A GE Co has a fifty-two week low of $20.09 and a fifty-two week high of $32.69. The stock has a 50-day simple moving average of $22.65 and a two-hundred day simple moving average of $23.86. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. The stock has a market cap of $22.43 billion, a price-to-earnings ratio of 32.95, a PEG ratio of 2.82 and a beta of 0.95.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.81 billion. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. As a group, analysts anticipate that Baker Hughes A GE Co will post 0.97 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on the company. ValuEngine upgraded Baker Hughes A GE from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their price objective on Baker Hughes A GE from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Tuesday. Wells Fargo & Co cut their price objective on Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, September 12th. AltaCorp Capital reiterated an “outperform” rating on shares of Baker Hughes A GE in a report on Thursday, June 20th. Finally, Bank of America cut their price target on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $33.15.

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

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