Stonebridge Capital Management Inc. Acquires New Holdings in Baker Hughes, a GE company Class A (BHGE)

Stonebridge Capital Management Inc. acquired a new position in Baker Hughes, a GE company Class A (NASDAQ:BHGE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,212 shares of the company’s stock, valued at approximately $594,000.

A number of other hedge funds also recently bought and sold shares of BHGE. New Mexico Educational Retirement Board acquired a new stake in Baker Hughes, a GE company Class A in the second quarter worth about $1,461,000. South Dakota Investment Council acquired a new stake in Baker Hughes, a GE company Class A in the second quarter worth about $4,610,000. Tudor Investment Corp ET AL acquired a new stake in Baker Hughes, a GE company Class A in the second quarter worth about $959,000. FTB Advisors Inc. acquired a new stake in Baker Hughes, a GE company Class A in the second quarter worth about $442,000. Finally, Fairpointe Capital LLC acquired a new stake in Baker Hughes, a GE company Class A in the second quarter worth about $229,000.

In other news, insider Matthias L. Heilmann acquired 1,500 shares of Baker Hughes, a GE company Class A stock in a transaction on Thursday, October 26th. The stock was bought at an average cost of $30.04 per share, with a total value of $45,060.00. Following the completion of the purchase, the insider now owns 3,500 shares of the company’s stock, valued at $105,140. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Lorenzo Simonelli acquired 6,100 shares of Baker Hughes, a GE company Class A stock in a transaction on Friday, August 18th. The shares were purchased at an average cost of $32.99 per share, with a total value of $201,239.00. Following the completion of the purchase, the insider now directly owns 9,139 shares of the company’s stock, valued at approximately $301,495.61. The disclosure for this purchase can be found here.

Several research firms recently weighed in on BHGE. Goldman Sachs Group, Inc. (The) reaffirmed a “sell” rating and issued a $37.00 price objective on shares of Baker Hughes, a GE company Class A in a report on Tuesday, July 18th. J P Morgan Chase & Co reduced their price objective on shares of Baker Hughes, a GE company Class A from $32.00 to $30.00 and set a “neutral” rating for the company in a report on Thursday, September 21st. HSBC Holdings plc began coverage on shares of Baker Hughes, a GE company Class A in a report on Thursday, July 13th. They issued a “buy” rating and a $48.00 price objective for the company. FBR & Co began coverage on shares of Baker Hughes, a GE company Class A in a report on Monday, July 17th. They issued a “market perform” rating and a $42.00 price objective for the company. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Baker Hughes, a GE company Class A in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.74.

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Shares of Baker Hughes, a GE company Class A (NASDAQ:BHGE) traded up $1.05 during midday trading on Monday, reaching $32.23. 707,711 shares of the company’s stock were exchanged.

Baker Hughes, a GE company Class A (NASDAQ:BHGE) last posted its quarterly earnings data on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.07). The business had revenue of $5.38 billion for the quarter, compared to the consensus estimate of $5.52 billion. The firm’s revenue for the quarter was up 77.7% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 22nd. Shareholders of record on Monday, November 6th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, November 3rd. This is a positive change from Baker Hughes, a GE company Class A’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.23%.

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Institutional Ownership by Quarter for Baker Hughes, a GE company Class A (NASDAQ:BHGE)

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