Tower Research Capital LLC TRC Raises Position in Baker Hughes A GE Co (NYSE:BHGE)

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Tower Research Capital LLC TRC lifted its stake in shares of Baker Hughes A GE Co (NYSE:BHGE) by 109.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 60,352 shares of the company’s stock after buying an additional 31,543 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Baker Hughes A GE were worth $1,486,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BHGE. Hartford Investment Management Co. boosted its holdings in Baker Hughes A GE by 1.3% in the 2nd quarter. Hartford Investment Management Co. now owns 56,390 shares of the company’s stock worth $1,389,000 after buying an additional 744 shares during the period. Greenleaf Trust bought a new position in Baker Hughes A GE in the 1st quarter worth approximately $207,000. YorkBridge Wealth Partners LLC bought a new position in Baker Hughes A GE in the 1st quarter worth approximately $59,000. Geode Capital Management LLC boosted its holdings in Baker Hughes A GE by 31.2% in the 4th quarter. Geode Capital Management LLC now owns 6,024,741 shares of the company’s stock worth $129,283,000 after buying an additional 1,432,685 shares during the period. Finally, Shulman DeMeo Asset Management LLC bought a new position in Baker Hughes A GE in the 2nd quarter worth approximately $265,000. Institutional investors own 48.39% of the company’s stock.

NYSE:BHGE traded up $0.08 during trading hours on Friday, hitting $22.72. The stock had a trading volume of 10,715,063 shares, compared to its average volume of 7,710,029. The company has a 50 day simple moving average of $22.86 and a two-hundred day simple moving average of $24.37. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.60 and a quick ratio of 1.09. Baker Hughes A GE Co has a one year low of $20.09 and a one year high of $34.49. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 34.42, a P/E/G ratio of 2.90 and a beta of 0.96.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend was Monday, August 12th. Baker Hughes A GE’s dividend payout ratio (DPR) is currently 109.09%.

Several research firms recently commented on BHGE. AltaCorp Capital reaffirmed an “outperform” rating on shares of Baker Hughes A GE in a report on Thursday, June 20th. Wells Fargo & Co cut their price target on shares of Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday. TheStreet raised shares of Baker Hughes A GE from a “d+” rating to a “c-” rating in a report on Thursday, June 20th. Bank of America cut their price target on shares of Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, August 28th. Finally, Jefferies Financial Group set a $32.00 price target on shares of Baker Hughes A GE and gave the company a “buy” rating in a report on Thursday, June 6th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Baker Hughes A GE currently has a consensus rating of “Buy” and a consensus target price of $34.87.

In related news, Director John G. Rice acquired 10,000 shares of the stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $20.75 per share, for a total transaction of $207,500.00. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $311,250. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Uwem Ukpong sold 16,686 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $23.62, for a total transaction of $394,123.32. Following the sale, the insider now owns 271 shares in the company, valued at approximately $6,401.02. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

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

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