Renaissance Group LLC bought a new position in shares of Baker Hughes Incorporated (NYSE:BHGE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 41,058 shares of the company’s stock, valued at approximately $1,504,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Bank & Trust bought a new stake in shares of Baker Hughes during the third quarter worth $101,000. Trust Co. of Vermont acquired a new position in shares of Baker Hughes during the third quarter worth $105,000. Carroll Financial Associates Inc. acquired a new position in shares of Baker Hughes during the third quarter worth $136,000. Advisor Group Inc. acquired a new position in shares of Baker Hughes during the third quarter worth $140,000. Finally, M&R Capital Management Inc. acquired a new position in shares of Baker Hughes during the second quarter worth $141,000. 84.69% of the stock is currently owned by hedge funds and other institutional investors.

Baker Hughes Incorporated (BHGE) traded up $0.22 during mid-day trading on Wednesday, reaching $30.66. 3,346,000 shares of the company traded hands, compared to its average volume of 3,040,603. The company has a current ratio of 1.90, a quick ratio of 1.29 and a debt-to-equity ratio of 0.08. Baker Hughes Incorporated has a 1-year low of $29.62 and a 1-year high of $68.59.

Baker Hughes (NYSE:BHGE) last released its earnings results on Friday, October 20th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.07). The firm had revenue of $5.38 billion during the quarter, compared to analyst estimates of $5.52 billion. Baker Hughes had a negative net margin of 6.66% and a negative return on equity of 0.84%. The business’s revenue for the quarter was up 77.7% compared to the same quarter last year. equities analysts anticipate that Baker Hughes Incorporated will post 0.41 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 6th will be issued a $0.18 dividend. This is a positive change from Baker Hughes’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, November 3rd. This represents a $0.72 annualized dividend and a yield of 2.35%. Baker Hughes’s payout ratio is presently -111.34%.

A number of brokerages have recently commented on BHGE. Zacks Investment Research upgraded shares of Baker Hughes from a “strong sell” rating to a “hold” rating in a report on Monday, November 13th. B. Riley reiterated a “neutral” rating on shares of Baker Hughes in a report on Friday, November 3rd. Barclays PLC set a $41.00 price target on shares of Baker Hughes and gave the stock a “buy” rating in a report on Thursday, October 26th. Citigroup Inc. cut their price target on shares of Baker Hughes from $44.00 to $41.00 and set a “buy” rating on the stock in a report on Wednesday, October 25th. Finally, Royal Bank Of Canada set a $38.00 price target on shares of Baker Hughes and gave the stock an “outperform” rating in a report on Wednesday, October 25th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the stock. Baker Hughes currently has a consensus rating of “Hold” and a consensus target price of $40.74.

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In related news, insider Matthias L. Heilmann acquired 1,500 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were purchased at an average price of $30.04 per share, for a total transaction of $45,060.00. Following the completion of the acquisition, the insider now owns 3,500 shares of the company’s stock, valued at $105,140. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is owned by insiders.

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

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