Miller Howard Investments Inc. NY Lowers Position in Baker Hughes A GE Co (BHGE)

Miller Howard Investments Inc. NY reduced its stake in Baker Hughes A GE Co (NYSE:BHGE) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 96,094 shares of the company’s stock after selling 6,444 shares during the period. Miller Howard Investments Inc. NY’s holdings in Baker Hughes A GE were worth $3,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. TCW Group Inc. lifted its holdings in Baker Hughes A GE by 13.5% during the 2nd quarter. TCW Group Inc. now owns 4,409,766 shares of the company’s stock worth $145,654,000 after buying an additional 523,729 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Baker Hughes A GE by 521.2% in the 2nd quarter. Millennium Management LLC now owns 4,112,049 shares of the company’s stock valued at $135,821,000 after purchasing an additional 3,450,049 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Baker Hughes A GE by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,091,722 shares of the company’s stock valued at $135,150,000 after purchasing an additional 65,666 shares during the period. Swiss National Bank lifted its stake in shares of Baker Hughes A GE by 7.4% in the 2nd quarter. Swiss National Bank now owns 1,396,528 shares of the company’s stock valued at $46,127,000 after purchasing an additional 96,600 shares during the period. Finally, Becker Capital Management Inc. lifted its stake in shares of Baker Hughes A GE by 64.1% in the 2nd quarter. Becker Capital Management Inc. now owns 1,309,745 shares of the company’s stock valued at $43,261,000 after purchasing an additional 511,585 shares during the period. Institutional investors own 93.77% of the company’s stock.

In related news, insider Matthias L. Heilmann sold 12,000 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total value of $408,000.00. Following the completion of the sale, the insider now directly owns 3,743 shares in the company, valued at approximately $127,262. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kurt Camilleri sold 2,513 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $34.00, for a total transaction of $85,442.00. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

A number of analysts recently commented on BHGE shares. Piper Jaffray Companies restated a “buy” rating and issued a $38.00 price objective on shares of Baker Hughes A GE in a research report on Monday, July 23rd. Guggenheim upgraded shares of Baker Hughes A GE from a “neutral” rating to a “buy” rating and set a $37.00 price objective for the company in a research report on Wednesday. Barclays restated a “buy” rating and issued a $37.00 price objective on shares of Baker Hughes A GE in a research report on Thursday, July 26th. Cowen lowered their price objective on shares of Baker Hughes A GE from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, July 6th. Finally, Wolfe Research started coverage on shares of Baker Hughes A GE in a research report on Wednesday, October 10th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $37.17.

BHGE stock opened at $27.26 on Wednesday. The stock has a market cap of $11.26 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 4.68 and a beta of 0.70. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.90 and a quick ratio of 1.36. Baker Hughes A GE Co has a 1 year low of $25.53 and a 1 year high of $37.76.

Baker Hughes A GE (NYSE:BHGE) last released its earnings results on Tuesday, October 30th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ 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 positive return on equity of 0.43% and a negative net margin of 0.37%. Baker Hughes A GE’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. As a group, sell-side analysts forecast that Baker Hughes A GE Co will post 0.71 earnings per share for the current year.

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 for onshore and offshore operations.

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

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