Gabelli Funds LLC Trims Stake in Baker Hughes A GE Co (BHGE)

Gabelli Funds LLC cut its holdings in Baker Hughes A GE Co (NYSE:BHGE) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 534,475 shares of the company’s stock after selling 2,000 shares during the period. Gabelli Funds LLC owned about 0.13% of Baker Hughes A GE worth $18,081,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Schroder Investment Management Group purchased a new position in shares of Baker Hughes A GE during the 2nd quarter worth about $125,000. Gofen & Glossberg LLC IL purchased a new position in shares of Baker Hughes A GE during the 3rd quarter worth about $203,000. XR Securities LLC purchased a new position in shares of Baker Hughes A GE during the 3rd quarter worth about $212,000. Private Advisor Group LLC purchased a new position in shares of Baker Hughes A GE during the 3rd quarter worth about $214,000. Finally, Rathbone Brothers plc purchased a new position in shares of Baker Hughes A GE during the 2nd quarter worth about $210,000. Hedge funds and other institutional investors own 93.88% of the company’s stock.

NYSE BHGE opened at $26.75 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.91 and a quick ratio of 1.35. The company has a market cap of $11.20 billion, a P/E ratio of 51.44, a PEG ratio of 5.25 and a beta of 0.84. Baker Hughes A GE Co has a 52 week low of $25.53 and a 52 week high of $37.76.

Baker Hughes A GE (NYSE:BHGE) last posted its quarterly earnings data on Tuesday, October 30th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.02). The firm had revenue of $5.67 billion for the quarter, compared to the consensus estimate of $5.88 billion. Baker Hughes A GE had a return on equity of 0.59% and a net margin of 0.16%. The company’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.05 EPS. Research analysts forecast that Baker Hughes A GE Co will post 0.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Thursday, November 15th. This represents a $0.72 annualized dividend and a dividend yield of 2.69%. Baker Hughes A GE’s dividend payout ratio (DPR) is presently 138.46%.

A number of research firms recently commented on BHGE. Piper Jaffray Companies reaffirmed a “buy” rating and set a $38.00 price target on shares of Baker Hughes A GE in a research note on Monday, July 23rd. Credit Suisse Group dropped their price target on shares of Baker Hughes A GE from $36.00 to $33.00 and set a “neutral” rating for the company in a research note on Wednesday, October 31st. Guggenheim raised shares of Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Wednesday, October 31st. Citigroup dropped their price target on shares of Baker Hughes A GE from $43.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Seaport Global Securities reissued a “hold” rating and issued a $32.00 price objective on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.79.

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Baker Hughes A GE Profile

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

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