MUFG Americas Holdings Corp Takes Position in Baker Hughes Incorporated (BHGE)

MUFG Americas Holdings Corp acquired a new position in shares of Baker Hughes Incorporated (NYSE:BHGE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,550 shares of the company’s stock, valued at approximately $130,000.

A number of other hedge funds also recently added to or reduced their stakes in BHGE. Amica Retiree Medical Trust acquired a new position in Baker Hughes during the third quarter worth about $101,000. First Bank & Trust acquired a new position in Baker Hughes during the third quarter worth about $101,000. Trust Co. of Vermont acquired a new position in Baker Hughes during the third quarter worth about $105,000. Sun Life Financial INC acquired a new position in Baker Hughes during the third quarter worth about $115,000. Finally, Carroll Financial Associates Inc. acquired a new position in Baker Hughes during the third quarter worth about $136,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Matthias L. Heilmann bought 1,500 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was purchased at an average cost of $30.04 per share, for a total transaction of $45,060.00. Following the completion of the acquisition, the insider now owns 3,500 shares in the company, valued at $105,140. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

A number of brokerages have issued reports on BHGE. Zacks Investment Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a research report on Monday, November 13th. B. Riley restated a “neutral” rating on shares of Baker Hughes in a research report on Friday, November 3rd. Barclays set a $41.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a research report on Thursday, October 26th. Citigroup cut their price objective on shares of Baker Hughes from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. Finally, Royal Bank Of Canada set a $38.00 price objective on shares of Baker Hughes and gave the company an “outperform” rating in a research report on Wednesday, October 25th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. Baker Hughes currently has a consensus rating of “Hold” and a consensus target price of $40.74.

Baker Hughes Incorporated (NYSE BHGE) opened at $30.70 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.29 and a current ratio of 1.90. Baker Hughes Incorporated has a 52-week low of $29.62 and a 52-week high of $40.82.

Baker Hughes (NYSE:BHGE) last released its earnings results on Friday, October 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $5.38 billion during the quarter, compared to analysts’ expectations of $5.52 billion. The business’s revenue for the quarter was up 77.7% compared to the same quarter last year. research analysts forecast that Baker Hughes Incorporated will post 0.41 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.35%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date was Friday, November 3rd. Baker Hughes’s payout ratio is presently -111.34%.

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

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