Renaissance Group LLC Invests $1.50 Million in Baker Hughes Incorporated (BHGE)
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.
COPYRIGHT VIOLATION WARNING: This report was originally published by Watch List News and is the property of of Watch List News. If you are accessing this report on another website, it was copied illegally and republished in violation of U.S. and international copyright and trademark law. The original version of this report can be accessed at https://www.watchlistnews.com/renaissance-group-llc-invests-1-50-million-in-baker-hughes-incorporated-bhge/1719921.html.
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.
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 Incorporated (NYSE:BHGE).
Receive News & Ratings for Baker Hughes Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baker Hughes Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.