80,641 Shares in Baker Hughes Company $BKR Purchased by Washington Trust Bank

Washington Trust Bank acquired a new position in Baker Hughes Company (NASDAQ:BKR) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 80,641 shares of the company’s stock, valued at approximately $3,672,000.

Other large investors also recently bought and sold shares of the company. Activest Wealth Management increased its holdings in Baker Hughes by 1,242.5% in the 3rd quarter. Activest Wealth Management now owns 537 shares of the company’s stock worth $26,000 after buying an additional 497 shares in the last quarter. JFS Wealth Advisors LLC increased its holdings in Baker Hughes by 45.1% in the 4th quarter. JFS Wealth Advisors LLC now owns 811 shares of the company’s stock worth $37,000 after buying an additional 252 shares in the last quarter. Wolff Wiese Magana LLC increased its holdings in Baker Hughes by 55.6% in the 4th quarter. Wolff Wiese Magana LLC now owns 840 shares of the company’s stock worth $38,000 after buying an additional 300 shares in the last quarter. Spire Wealth Management increased its holdings in Baker Hughes by 357.8% in the 3rd quarter. Spire Wealth Management now owns 1,021 shares of the company’s stock worth $50,000 after buying an additional 798 shares in the last quarter. Finally, N.E.W. Advisory Services LLC increased its holdings in Baker Hughes by 60.6% in the 3rd quarter. N.E.W. Advisory Services LLC now owns 1,102 shares of the company’s stock worth $54,000 after buying an additional 416 shares in the last quarter. 92.06% of the stock is currently owned by institutional investors.

Baker Hughes Price Performance

NASDAQ BKR opened at $64.60 on Tuesday. Baker Hughes Company has a 12 month low of $35.83 and a 12 month high of $70.41. The stock has a market cap of $64.09 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.32 and a beta of 0.97. The company’s 50 day moving average is $62.04 and its two-hundred day moving average is $55.12. The company has a current ratio of 2.13, a quick ratio of 1.77 and a debt-to-equity ratio of 0.79.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, April 23rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. Baker Hughes had a net margin of 11.17% and a return on equity of 14.17%. The company had revenue of $6.59 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the business earned $0.51 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts anticipate that Baker Hughes Company will post 2.32 earnings per share for the current year.

Baker Hughes Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be paid a dividend of $0.23 per share. The ex-dividend date is Tuesday, May 5th. This represents a $0.92 dividend on an annualized basis and a yield of 1.4%. Baker Hughes’s dividend payout ratio (DPR) is presently 29.39%.

Insider Buying and Selling

In other Baker Hughes news, CEO Lorenzo Simonelli sold 272,594 shares of the firm’s stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $58.79, for a total transaction of $16,025,801.26. Following the sale, the chief executive officer owned 866,444 shares in the company, valued at approximately $50,938,242.76. This trade represents a 23.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maria Georgia Magno sold 5,063 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $59.04, for a total value of $298,919.52. Following the completion of the transaction, the insider directly owned 15,555 shares in the company, valued at approximately $918,367.20. This represents a 24.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 550,250 shares of company stock worth $32,988,331. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on BKR shares. Citigroup lifted their price objective on Baker Hughes from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Johnson Rice started coverage on Baker Hughes in a report on Wednesday, February 25th. They issued a “buy” rating and a $68.00 price objective for the company. Argus lifted their price objective on Baker Hughes from $67.00 to $79.00 in a report on Friday, May 1st. iA Financial set a $60.00 price objective on Baker Hughes in a report on Tuesday, January 27th. Finally, Stifel Nicolaus lifted their price objective on Baker Hughes from $63.00 to $74.00 and gave the stock a “buy” rating in a report on Monday, April 27th. Eighteen equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.18.

Baker Hughes Company Profile

Baker Hughes is an energy technology company that provides a broad portfolio of products, services and digital solutions for the oil and gas and industrial markets. Its offerings span oilfield services and equipment — including drilling, evaluation, completion and production technologies — as well as turbomachinery, compressors and related process equipment used in midstream and downstream operations. The company also supplies aftermarket services, field support and integrated solutions designed to improve asset performance and uptime across the energy value chain.

The firm’s roots trace back to the merger of Baker International and Hughes Tool Company, and more recently it combined with GE’s oil and gas business in 2017 to form Baker Hughes, a GE company (BHGE); subsequent changes in ownership restored Baker Hughes as an independent publicly traded company.