PNC Financial Services Group Inc. Has $2.17 Million Stake in Baker Hughes A GE Co (BHGE)

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PNC Financial Services Group Inc. grew its holdings in shares of Baker Hughes A GE Co (NYSE:BHGE) by 45.2% in the 2nd quarter, Holdings Channel reports. The firm owned 65,811 shares of the company’s stock after purchasing an additional 20,491 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Baker Hughes A GE were worth $2,172,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of BHGE. ETRADE Capital Management LLC increased its position in shares of Baker Hughes A GE by 21.7% in the 1st quarter. ETRADE Capital Management LLC now owns 10,465 shares of the company’s stock valued at $291,000 after acquiring an additional 1,863 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its position in Baker Hughes A GE by 26.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 9,085 shares of the company’s stock worth $248,000 after purchasing an additional 1,875 shares during the period. Boston Partners grew its position in Baker Hughes A GE by 0.8% during the 2nd quarter. Boston Partners now owns 228,272 shares of the company’s stock worth $7,540,000 after purchasing an additional 1,915 shares during the period. OLD Point Trust & Financial Services N A grew its position in Baker Hughes A GE by 4.0% during the 2nd quarter. OLD Point Trust & Financial Services N A now owns 65,457 shares of the company’s stock worth $2,162,000 after purchasing an additional 2,500 shares during the period. Finally, Advisor Partners LLC grew its position in Baker Hughes A GE by 32.6% during the 2nd quarter. Advisor Partners LLC now owns 10,409 shares of the company’s stock worth $344,000 after purchasing an additional 2,558 shares during the period. Hedge funds and other institutional investors own 93.88% of the company’s stock.

Several equities research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on Baker Hughes A GE in a research report on Monday, September 10th. They set a “buy” rating and a $40.00 price target on the stock. B. Riley reaffirmed a “buy” rating on shares of Baker Hughes A GE in a research report on Monday, September 10th. Barclays reaffirmed a “buy” rating and set a $37.00 price target on shares of Baker Hughes A GE in a research report on Thursday, July 26th. SunTrust Banks raised Baker Hughes A GE from a “hold” rating to a “buy” rating and increased their price target for the stock from $34.00 to $39.00 in a research report on Tuesday, July 24th. Finally, ValuEngine raised Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 24th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Baker Hughes A GE presently has an average rating of “Hold” and an average target price of $37.43.

In other news, VP Kurt Camilleri sold 2,513 shares of the firm’s stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $34.00, for a total transaction of $85,442.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 3,743 shares in the company, valued at $127,262. The disclosure for this sale can be found here. 0.18% of the stock is owned by company insiders.

NYSE:BHGE opened at $31.56 on Friday. Baker Hughes A GE Co has a 52 week low of $25.53 and a 52 week high of $38.10. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.36 and a current ratio of 1.90. The stock has a market cap of $13.34 billion, a PE ratio of 60.69, a price-to-earnings-growth ratio of 5.58 and a beta of 0.72.

Baker Hughes A GE (NYSE:BHGE) last posted its earnings results on Friday, July 20th. The company reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). Baker Hughes A GE had a negative net margin of 0.37% and a positive return on equity of 0.43%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.57 billion. During the same quarter last year, the business earned $0.28 earnings per share. Baker Hughes A GE’s revenue was up 2.4% on a year-over-year basis. analysts expect that Baker Hughes A GE Co will post 0.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Tuesday, August 14th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date of this dividend was Monday, August 13th. Baker Hughes A GE’s dividend payout ratio (DPR) is presently 138.46%.

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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Want to see what other hedge funds are holding BHGE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Baker Hughes A GE Co (NYSE:BHGE).

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

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