Shares of Baker Hughes A GE Co (NYSE:BHGE) have earned an average rating of “Buy” from the seventeen brokerages that are presently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.08.
A number of research firms have recently weighed in on BHGE. Credit Suisse Group increased their price target on Baker Hughes A GE from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Thursday, August 1st. Bank of America dropped their price objective on Baker Hughes A GE from $32.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, August 28th. ValuEngine upgraded Baker Hughes A GE from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley lowered their target price on Baker Hughes A GE from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. Finally, Citigroup lowered their target price on Baker Hughes A GE from $32.00 to $31.00 and set a “buy” rating for the company in a report on Friday.
NYSE:BHGE opened at $22.08 on Friday. The stock’s fifty day moving average price is $22.81 and its two-hundred day moving average price is $23.63. Baker Hughes A GE has a 52-week low of $20.09 and a 52-week high of $31.26. 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 company has a market cap of $22.92 billion, a price-to-earnings ratio of 33.45, a P/E/G ratio of 2.86 and a beta of 0.95.
In other news, CEO Lorenzo Simonelli acquired 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $20.61 per share, with a total value of $309,150.00. Following the completion of the purchase, the chief executive officer now directly owns 113,368 shares of the company’s stock, valued at approximately $2,336,514.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Uwem Ukpong sold 16,686 shares of Baker Hughes A GE stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $23.62, for a total transaction of $394,123.32. Following the completion of the transaction, the insider now directly owns 271 shares in the company, valued at $6,401.02. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Baker Hughes A GE by 18.8% during the second quarter. BlackRock Inc. now owns 45,244,203 shares of the company’s stock worth $1,114,366,000 after buying an additional 7,154,384 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Baker Hughes A GE by 28,940.7% during the second quarter. Nuveen Asset Management LLC now owns 3,283,345 shares of the company’s stock worth $80,869,000 after buying an additional 3,272,039 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Baker Hughes A GE by 14.1% during the second quarter. Pzena Investment Management LLC now owns 6,319,078 shares of the company’s stock worth $155,639,000 after buying an additional 778,490 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Baker Hughes A GE during the second quarter worth $13,496,000. Finally, Invesco Ltd. grew its stake in shares of Baker Hughes A GE by 2.9% during the second quarter. Invesco Ltd. now owns 14,356,911 shares of the company’s stock worth $353,610,000 after buying an additional 406,655 shares during the last quarter. 48.39% of the stock is currently owned by institutional investors and hedge funds.
About Baker Hughes A GE
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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