Assenagon Asset Management S.A. Purchases New Position in Baker Hughes A GE Co (NYSE:BHGE)

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Assenagon Asset Management S.A. purchased a new stake in Baker Hughes A GE Co (NYSE:BHGE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 107,402 shares of the company’s stock, valued at approximately $2,492,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth Bank of Australia lifted its position in Baker Hughes A GE by 63.1% in the second quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock valued at $28,000 after acquiring an additional 480 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Baker Hughes A GE in the first quarter valued at $33,000. Perkins Coie Trust Co lifted its position in Baker Hughes A GE by 38.3% in the second quarter. Perkins Coie Trust Co now owns 1,637 shares of the company’s stock valued at $40,000 after acquiring an additional 453 shares during the last quarter. Price Wealth Management Inc. purchased a new stake in Baker Hughes A GE in the second quarter valued at $63,000. Finally, Stonebridge Capital Advisors LLC purchased a new stake in Baker Hughes A GE in the second quarter valued at $66,000. 48.39% of the stock is owned by hedge funds and other institutional investors.

In other news, Director John G. Rice purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $20.75 per share, for a total transaction of $207,500.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $311,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Uwem Ukpong sold 16,686 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $23.62, for a total transaction of $394,123.32. Following the transaction, the insider now owns 271 shares in the company, valued at $6,401.02. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

NYSE BHGE opened at $22.08 on Friday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.09 and a current ratio of 1.60. The firm has a market cap of $22.92 billion, a PE ratio of 33.45, a P/E/G ratio of 2.86 and a beta of 0.95. Baker Hughes A GE Co has a one year low of $20.09 and a one year high of $31.26. The firm’s fifty day moving average is $22.81 and its two-hundred day moving average is $23.63.

Baker Hughes A GE (NYSE:BHGE) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. Baker Hughes A GE had a net margin of 0.71% and a return on equity of 1.07%. Baker Hughes A GE’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. Research analysts predict that Baker Hughes A GE Co will post 0.97 earnings per share for the current year.

A number of brokerages recently weighed in on BHGE. Morgan Stanley reduced their price target on shares of Baker Hughes A GE from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. Citigroup reduced their price target on shares of Baker Hughes A GE from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Friday. Wells Fargo & Co reduced their price target on shares of Baker Hughes A GE from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th. ValuEngine raised shares of Baker Hughes A GE from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Bank of America reduced their price target on shares of Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Baker Hughes A GE currently has an average rating of “Buy” and an average price target of $32.46.

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.

Further Reading: Understanding Market Liquidity

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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