OLD Point Trust & Financial Services N A lifted its stake in shares of Baker Hughes A GE Co (NYSE:BHGE) by 1.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,725 shares of the company’s stock after purchasing an additional 750 shares during the quarter. OLD Point Trust & Financial Services N A’s holdings in Baker Hughes A GE were worth $1,718,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Baker Hughes A GE during the fourth quarter worth about $110,806,000. Pzena Investment Management LLC grew its position in Baker Hughes A GE by 1,163.7% during the first quarter. Pzena Investment Management LLC now owns 5,540,588 shares of the company’s stock worth $153,585,000 after buying an additional 5,102,148 shares in the last quarter. Millennium Management LLC grew its position in Baker Hughes A GE by 72.5% during the fourth quarter. Millennium Management LLC now owns 10,141,107 shares of the company’s stock worth $218,034,000 after buying an additional 4,260,917 shares in the last quarter. FMR LLC grew its position in Baker Hughes A GE by 11.7% during the fourth quarter. FMR LLC now owns 36,476,714 shares of the company’s stock worth $784,250,000 after buying an additional 3,826,019 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Baker Hughes A GE by 45.4% during the fourth quarter. American Century Companies Inc. now owns 11,652,657 shares of the company’s stock worth $250,532,000 after buying an additional 3,635,694 shares in the last quarter. Institutional investors own 96.03% of the company’s stock.
Several equities analysts recently commented on the company. Royal Bank of Canada boosted their target price on Shopify from C$230.00 to C$265.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Jefferies Financial Group set a $32.00 price objective on Baker Hughes A GE and gave the stock a “buy” rating in a report on Thursday, June 6th. TheStreet cut Misonix from a “c-” rating to a “d” rating in a report on Thursday, June 20th. ValuEngine upgraded ZTE CORP/ADR from a “hold” rating to a “buy” rating in a report on Monday, April 15th. Finally, AltaCorp Capital reiterated a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. One analyst has rated the stock with a sell rating, five have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.35.
Baker Hughes A GE (NYSE:BHGE) last released its earnings results on Tuesday, April 30th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $5.62 billion during the quarter, compared to analyst estimates of $5.63 billion. Baker Hughes A GE had a return on equity of 0.88% and a net margin of 0.68%. Baker Hughes A GE’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. As a group, research analysts anticipate that Baker Hughes A GE Co will post 0.98 earnings per share for the current fiscal year.
Baker Hughes A GE Company 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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