American International Group Inc. Invests $6 Million in Baker Hughes Incorporated (BHGE)

American International Group Inc. purchased a new position in Baker Hughes Incorporated (NYSE:BHGE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 163,788 shares of the company’s stock, valued at approximately $5,998,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. First Bank & Trust purchased a new position in shares of Baker Hughes during the third quarter worth $101,000. Trust Co. of Vermont purchased a new position in shares of Baker Hughes during the third quarter worth $105,000. Carroll Financial Associates Inc. purchased a new position in shares of Baker Hughes during the third quarter worth $136,000. Advisor Group Inc. purchased a new position in shares of Baker Hughes during the third quarter worth $140,000. Finally, M&R Capital Management Inc. purchased a new position in shares of Baker Hughes during the second quarter worth $141,000. 89.48% of the stock is owned by institutional investors and hedge funds.

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

BHGE has been the subject of several recent research reports. Cowen set a $50.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a report on Wednesday, October 18th. Morgan Stanley set a $53.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a report on Monday, October 23rd. Barclays set a $41.00 target price on shares of Baker Hughes and gave the stock a “buy” rating in a report on Thursday, October 26th. B. Riley reissued a “neutral” rating on shares of Baker Hughes in a report on Friday, November 3rd. Finally, Loop Capital set a $37.00 target price on shares of Baker Hughes and gave the stock a “hold” rating in a report on Monday, October 23rd. Two equities research 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’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $40.74.

Shares of Baker Hughes Incorporated (NYSE:BHGE) opened at $30.70 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.90 and a quick ratio of 1.29. Baker Hughes Incorporated has a 52-week low of $29.62 and a 52-week high of $68.59.

Baker Hughes (NYSE:BHGE) last released its quarterly earnings results on Friday, October 20th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.07). The firm had revenue of $5.38 billion for the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The business’s revenue was up 77.7% compared to the same quarter last year. equities analysts forecast that Baker Hughes Incorporated will post 0.41 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, November 3rd. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. Baker Hughes’s dividend payout ratio (DPR) is currently -111.34%.

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

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