Afam Capital Inc. acquired a new position in shares of Baker Hughes Incorporated (NYSE:BHGE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 81,033 shares of the company’s stock, valued at approximately $2,967,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First Bank & Trust acquired a new stake in Baker Hughes during the 3rd quarter worth about $101,000. Amica Retiree Medical Trust purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $101,000. Trust Co. of Vermont purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $105,000. Westside Investment Management Inc. purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $108,000. Finally, Sun Life Financial INC purchased a new stake in shares of Baker Hughes during the 3rd quarter worth about $115,000. Hedge funds and other institutional investors own 89.48% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. J P Morgan Chase & Co cut their price target on Baker Hughes from $32.00 to $30.00 and set a “neutral” rating for the company in a research note on Thursday, September 21st. Barclays set a $43.00 price target on Baker Hughes and gave the stock an “overweight” rating in a research note on Friday, September 29th. Bank of America assumed coverage on Baker Hughes in a research note on Monday, September 25th. They set an “underperform” rating and a $36.00 price target for the company. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $38.00 price target (down from $42.00) on shares of Baker Hughes in a research note on Monday, October 2nd. Finally, UBS downgraded Baker Hughes from a “positive” rating to a “neutral” rating in a research note on Monday, October 2nd. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $40.74.
Baker Hughes (NYSE:BHGE) last issued its quarterly earnings data on Friday, October 20th. The company reported $0.05 earnings per share for the quarter, missing the Zacks’ 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 company had revenue of $5.38 billion during the quarter, compared to the consensus estimate of $5.52 billion. Baker Hughes’s revenue for the quarter was up 77.7% on a year-over-year basis. equities research analysts predict that Baker Hughes Incorporated will post 0.41 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 22nd. Investors of record on Monday, November 6th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.33%. 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. Baker Hughes’s dividend payout ratio (DPR) is presently -111.34%.
In other Baker Hughes news, insider Matthias L. Heilmann bought 1,500 shares of the stock in a transaction on Thursday, October 26th. The shares were purchased at an average price of $30.04 per share, with a total value of $45,060.00. Following the acquisition, the insider now directly owns 3,500 shares of the company’s stock, valued at approximately $105,140. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.
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