Allianz Asset Management GmbH bought a new position in shares of Baker Hughes Incorporated (NYSE:BHGE) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 900,694 shares of the company’s stock, valued at approximately $32,984,000. Allianz Asset Management GmbH owned approximately 0.21% of Baker Hughes at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. First Bank & Trust bought a new stake in shares of Baker Hughes in the third quarter valued at about $101,000. Amica Retiree Medical Trust bought a new stake in shares of Baker Hughes in the third quarter valued at about $101,000. Trust Co. of Vermont bought a new stake in shares of Baker Hughes in the third quarter valued at about $105,000. Westside Investment Management Inc. bought a new stake in shares of Baker Hughes in the third quarter valued at about $108,000. Finally, Sun Life Financial INC bought a new stake in shares of Baker Hughes in the third quarter valued at about $115,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.
In other news, insider Matthias L. Heilmann bought 1,500 shares of the firm’s stock in a transaction dated Thursday, October 26th. The shares were bought at an average price of $30.04 per share, with a total value of $45,060.00. Following the completion of the transaction, the insider now owns 3,500 shares of the company’s stock, valued at $105,140. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.
Baker Hughes (NYSE:BHGE) last posted its earnings results on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.07). Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.52 billion. The firm’s revenue for the quarter was up 77.7% compared to the same quarter last year. equities analysts predict that Baker Hughes Incorporated will post 0.41 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Monday, November 6th were given a $0.18 dividend. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.72 annualized dividend and a dividend yield of 2.38%. Baker Hughes’s dividend payout ratio is presently -111.34%.
A number of research firms recently issued reports on BHGE. Jefferies Group reaffirmed a “hold” rating and issued a $40.00 target price on shares of Baker Hughes in a research report on Sunday, September 10th. Barclays set a $43.00 target price on Baker Hughes and gave the company an “overweight” rating in a research report on Friday, September 29th. Royal Bank Of Canada set a $44.00 target price on Baker Hughes and gave the company a “buy” rating in a research report on Saturday, October 7th. Susquehanna Bancshares reaffirmed a “neutral” rating and issued a $38.00 target price (down previously from $42.00) on shares of Baker Hughes in a research report on Monday, October 2nd. Finally, Zacks Investment Research raised Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. Baker Hughes presently has an average rating of “Hold” and a consensus price target of $40.74.
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