Perigon Wealth Management LLC Purchases Shares of 6,145 Baker Hughes (NASDAQ:BKR)

Perigon Wealth Management LLC purchased a new stake in Baker Hughes (NASDAQ:BKR) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 6,145 shares of the company’s stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of BKR. Creative Planning increased its holdings in Baker Hughes by 36.5% in the 2nd quarter. Creative Planning now owns 61,976 shares of the company’s stock valued at $2,180,000 after buying an additional 16,582 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Baker Hughes by 39.5% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,227 shares of the company’s stock worth $360,000 after purchasing an additional 2,898 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Baker Hughes during the 2nd quarter worth about $1,505,000. Massmutual Trust Co. FSB ADV lifted its position in Baker Hughes by 26.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 2,867 shares of the company’s stock worth $104,000 after buying an additional 595 shares in the last quarter. Finally, Czech National Bank lifted its position in Baker Hughes by 6.4% during the 3rd quarter. Czech National Bank now owns 202,371 shares of the company’s stock worth $7,316,000 after buying an additional 12,192 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Baker Hughes from $43.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Benchmark restated a “buy” rating and set a $42.00 target price on shares of Baker Hughes in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of Baker Hughes from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. The Goldman Sachs Group upped their target price on shares of Baker Hughes from $51.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. Finally, Stifel Nicolaus upped their target price on shares of Baker Hughes from $45.00 to $48.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $48.06.

Baker Hughes Price Performance

Shares of BKR opened at $46.18 on Monday. The stock has a market capitalization of $45.70 billion, a P/E ratio of 20.71, a P/E/G ratio of 0.83 and a beta of 1.39. Baker Hughes has a twelve month low of $28.32 and a twelve month high of $47.60. The company has a 50 day moving average of $43.03 and a 200-day moving average of $39.10. The company has a quick ratio of 0.88, a current ratio of 1.30 and a debt-to-equity ratio of 0.37.

Baker Hughes (NASDAQ:BKR) last released its earnings results on Thursday, January 30th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.07. Baker Hughes had a net margin of 8.20% and a return on equity of 13.77%. As a group, equities research analysts forecast that Baker Hughes will post 2.29 EPS for the current fiscal year.

Baker Hughes Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Tuesday, February 11th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.99%. This is an increase from Baker Hughes’s previous quarterly dividend of $0.21. Baker Hughes’s dividend payout ratio (DPR) is currently 30.87%.

Insider Transactions at Baker Hughes

In related news, EVP Maria C. Borras sold 8,000 shares of the business’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $44.77, for a total value of $358,160.00. Following the completion of the transaction, the executive vice president now owns 173,302 shares of the company’s stock, valued at $7,758,730.54. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.25% of the company’s stock.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.