Baker Hughes A GE (NYSE:BHGE) PT Lowered to $30.00 at Morgan Stanley

Baker Hughes A GE (NYSE:BHGE) had its target price cut by Morgan Stanley from $32.00 to $30.00 in a research note released on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently commented on the company. Credit Suisse Group boosted their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the stock an outperform rating in a research report on Thursday, August 1st. Wells Fargo & Co dropped their price target on Baker Hughes A GE from $31.00 to $30.00 and set an outperform rating on the stock in a research report on Thursday, September 12th. TheStreet raised Baker Hughes A GE from a d+ rating to a c- rating in a research report on Thursday, June 20th. ValuEngine raised Baker Hughes A GE from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Finally, Bank of America dropped their price target on Baker Hughes A GE from $32.00 to $27.00 and set a buy rating on the stock in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $33.15.

Shares of BHGE opened at $22.23 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average price is $22.68 and its 200-day moving average price is $23.81. Baker Hughes A GE has a 52 week low of $20.09 and a 52 week high of $31.26. The stock has a market cap of $22.43 billion, a P/E ratio of 27.01, a P/E/G ratio of 2.80 and a beta of 0.95.

Baker Hughes A GE (NYSE:BHGE) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The firm had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.81 billion. During the same period in the previous year, the firm posted $0.10 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts anticipate that Baker Hughes A GE will post 0.97 EPS for the current year.

In related news, insider Uwem Ukpong sold 16,686 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $23.62, for a total value of $394,123.32. Following the completion of the transaction, the insider now directly owns 271 shares in the company, valued at approximately $6,401.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lorenzo Simonelli acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $20.61 per share, with a total value of $309,150.00. Following the completion of the acquisition, the chief executive officer now owns 113,368 shares in the company, valued at $2,336,514.48. The disclosure for this purchase can be found here. 0.21% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in BHGE. Hartford Investment Management Co. raised its stake in Baker Hughes A GE by 1.3% during the 2nd quarter. Hartford Investment Management Co. now owns 56,390 shares of the company’s stock valued at $1,389,000 after buying an additional 744 shares during the last quarter. Korea Investment CORP raised its stake in Baker Hughes A GE by 121.1% during the 2nd quarter. Korea Investment CORP now owns 232,800 shares of the company’s stock valued at $5,734,000 after buying an additional 127,500 shares during the last quarter. Shulman DeMeo Asset Management LLC purchased a new stake in Baker Hughes A GE during the 2nd quarter valued at $265,000. Cubist Systematic Strategies LLC raised its stake in Baker Hughes A GE by 67.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 22,936 shares of the company’s stock valued at $565,000 after buying an additional 9,274 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its stake in Baker Hughes A GE by 104.6% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 83,912 shares of the company’s stock valued at $2,067,000 after buying an additional 42,908 shares during the last quarter. Institutional investors own 48.38% of the company’s stock.

About Baker Hughes A GE

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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