Baker Hughes A GE (BHGE) Shares Gap Down to $22.52

Baker Hughes A GE Co (NYSE:BHGE) gapped down prior to trading on Friday . The stock had previously closed at $23.22, but opened at $22.52. Baker Hughes A GE shares last traded at $22.46, with a volume of 3648090 shares.

A number of research firms have weighed in on BHGE. TheStreet downgraded Baker Hughes A GE from a “c-” rating to a “d+” rating in a research report on Wednesday, November 14th. UBS Group cut their target price on Baker Hughes A GE from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Monday, November 5th. Citigroup cut their target price on Baker Hughes A GE from $43.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, November 2nd. Guggenheim downgraded Baker Hughes A GE from a “hold” rating to a “neutral” rating in a research report on Thursday, November 1st. Finally, Credit Suisse Group cut their target price on Baker Hughes A GE from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Wednesday, October 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.79.

The stock has a market cap of $9.26 billion, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 4.34 and a beta of 0.84. The company has a quick ratio of 1.35, a current ratio of 1.91 and a debt-to-equity ratio of 0.17.

Baker Hughes A GE (NYSE:BHGE) last announced its quarterly earnings data on Tuesday, October 30th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Baker Hughes A GE had a net margin of 0.16% and a return on equity of 0.59%. The company had revenue of $5.67 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same quarter last year, the company posted $0.05 EPS. Baker Hughes A GE’s revenue was up 6.9% on a year-over-year basis. On average, research analysts expect that Baker Hughes A GE Co will post 0.65 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Friday, November 16th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, November 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 3.21%. Baker Hughes A GE’s dividend payout ratio (DPR) is presently 138.46%.

In other news, Director Electric Co General sold 101,200,000 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $22.47, for a total transaction of $2,273,964,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Schroder Investment Management Group acquired a new stake in shares of Baker Hughes A GE during the 2nd quarter valued at $125,000. Gofen & Glossberg LLC IL acquired a new stake in shares of Baker Hughes A GE during the 3rd quarter valued at $203,000. First Republic Investment Management Inc. acquired a new stake in shares of Baker Hughes A GE during the 3rd quarter valued at $208,000. Putnam Investments LLC acquired a new stake in shares of Baker Hughes A GE during the 3rd quarter valued at $212,000. Finally, XR Securities LLC acquired a new stake in shares of Baker Hughes A GE during the 3rd quarter valued at $212,000. Institutional investors own 92.91% of the company’s stock.

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About Baker Hughes A GE (NYSE:BHGE)

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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