Baker Hughes A GE Co (NYSE:BHGE) dropped 7.5% during mid-day trading on Wednesday . The stock traded as low as $22.22 and last traded at $22.29, approximately 12,319,381 shares changed hands during mid-day trading. An increase of 170% from the average daily volume of 4,562,791 shares. The stock had previously closed at $24.11.

Several research firms have commented on BHGE. TheStreet raised Baker Hughes A GE from a “d+” rating to a “c-” rating in a research report on Thursday, June 20th. Bank of America decreased their target price on 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. Credit Suisse Group increased their target price 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. AltaCorp Capital reiterated an “outperform” rating on shares of Baker Hughes A GE in a report on Thursday, June 20th. Finally, Jefferies Financial Group set a $32.00 price target on Baker Hughes A GE and gave the stock a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $35.13.

The firm has a 50 day moving average price of $22.90 and a two-hundred day moving average price of $24.39. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $25.10 billion, a price-to-earnings ratio of 33.77, a P/E/G ratio of 3.08 and a beta of 0.96.

Baker Hughes A GE (NYSE:BHGE) last announced its earnings results on Wednesday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.01. Baker Hughes A GE had a return on equity of 1.07% and a net margin of 0.71%. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.81 billion. During the same period in the previous year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. Analysts predict that Baker Hughes A GE Co will post 0.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, August 12th. This represents a $0.72 dividend on an annualized basis and a yield of 3.23%. Baker Hughes A GE’s dividend payout ratio (DPR) is presently 109.09%.

In related news, insider Uwem Ukpong sold 16,686 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $23.62, for a total value of $394,123.32. Following the sale, the insider now directly owns 271 shares of the company’s stock, valued at $6,401.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John G. Rice purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was bought at an average cost of $20.75 per share, for a total transaction of $207,500.00. Following the completion of the acquisition, the director now directly owns 15,000 shares of the company’s stock, valued at $311,250. The disclosure for this purchase can be found here. 0.21% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in BHGE. Commonwealth Bank of Australia raised its stake in shares of Baker Hughes A GE by 63.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,241 shares of the company’s stock valued at $28,000 after purchasing an additional 480 shares in the last quarter. Centaurus Financial Inc. acquired a new position in Baker Hughes A GE in the first quarter worth about $33,000. Bremer Bank National Association acquired a new position in Baker Hughes A GE in the first quarter worth about $38,000. Perkins Coie Trust Co increased its holdings 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 buying an additional 453 shares during the last quarter. Finally, Quantamental Technologies LLC bought a new stake in Baker Hughes A GE in the first quarter valued at about $47,000. 48.39% of the stock is owned by institutional investors.

About Baker Hughes A GE (NYSE:BHGE)

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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