Jennison Associates LLC Purchases 130,895 Shares of Baker Hughes A GE Co (BHI)

Jennison Associates LLC boosted its position in shares of Baker Hughes A GE Co (NYSE:BHI) by 11.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,281,357 shares of the oilfield services provider’s stock after buying an additional 130,895 shares during the period. Jennison Associates LLC’s holdings in Baker Hughes A GE were worth $69,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ValueAct Holdings L.P. raised its position in shares of Baker Hughes A GE by 14.6% in the first quarter. ValueAct Holdings L.P. now owns 31,407,820 shares of the oilfield services provider’s stock valued at $1,878,816,000 after buying an additional 4,000,000 shares during the last quarter. Aberdeen Asset Management PLC UK raised its position in shares of Baker Hughes A GE by 47.6% in the first quarter. Aberdeen Asset Management PLC UK now owns 339,380 shares of the oilfield services provider’s stock valued at $20,302,000 after buying an additional 109,523 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Baker Hughes A GE by 5.5% in the first quarter. Envestnet Asset Management Inc. now owns 24,661 shares of the oilfield services provider’s stock valued at $1,477,000 after buying an additional 1,278 shares during the last quarter. IBM Retirement Fund raised its position in shares of Baker Hughes A GE by 113.0% in the second quarter. IBM Retirement Fund now owns 10,406 shares of the oilfield services provider’s stock valued at $634,000 after buying an additional 5,521 shares during the last quarter. Finally, Aperio Group LLC raised its position in shares of Baker Hughes A GE by 4.0% in the second quarter. Aperio Group LLC now owns 211,193 shares of the oilfield services provider’s stock valued at $11,512,000 after buying an additional 8,209 shares during the last quarter. Institutional investors own 91.32% of the company’s stock.

Baker Hughes A GE Co (NYSE:BHI) opened at 57.68 on Wednesday. The stock’s 50 day moving average price is $55.90 and its 200 day moving average price is $59.83. Baker Hughes A GE Co has a 1-year low of $43.09 and a 1-year high of $68.59.

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Several research analysts have recently weighed in on the stock. Barclays PLC reiterated a “buy” rating on shares of Baker Hughes A GE in a report on Thursday, June 22nd. Jefferies Group LLC cut their price objective on shares of Baker Hughes A GE from $72.00 to $67.00 and set a “hold” rating on the stock in a report on Friday, April 28th. Zacks Investment Research lowered shares of Baker Hughes A GE from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. BidaskClub upgraded shares of Baker Hughes A GE from a “strong sell” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “sell” rating on shares of Baker Hughes A GE in a report on Tuesday, July 18th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $63.10.

Baker Hughes A GE Company Profile

Baker Hughes, a GE Company is an oil and gas company. The Company is a provider of integrated oilfield products, services and digital solutions. The Company’s products and services include upstream, midstream, downstream, industrial and digital. The Company’s upstream, which includes evaluation, drilling, completions and production.