Zacks Investment Research lowered shares of Bae Systems PLC (OTCMKTS:BAESY) from a hold rating to a sell rating in a research report released on Tuesday, July 25th.
According to Zacks, “BAE Systems is a global company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land and at sea. BAE Systems Inc. is the US subsidiary of BAE Systems plc. Headquartered in Rockville,Maryland, BAE Systems Inc. consists of three Operating Groups that provide support and service solutions for current and future defense, intelligence, and civilian systems; design, develop and manufacture a wide range of electronic systems and subsystems for both military and commercial applications; and design, develop, produce,and provide service support of armored combat vehicles, artillery systems and intelligent munitions. “
Other research analysts have also recently issued research reports about the company. ValuEngine upgraded Bae Systems PLC from a hold rating to a buy rating in a research note on Friday, June 2nd. J P Morgan Chase & Co cut Bae Systems PLC from an overweight rating to a neutral rating in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Bae Systems PLC currently has a consensus rating of Hold and an average target price of $39.00.
Shares of Bae Systems PLC (OTCMKTS BAESY) traded up 0.20% on Tuesday, reaching $30.78. The company’s stock had a trading volume of 42,758 shares. Bae Systems PLC has a 52-week low of $25.94 and a 52-week high of $35.23.
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The company also recently disclosed a None dividend, which will be paid on Thursday, December 7th. Investors of record on Friday, October 20th will be issued a $0.437 dividend. The ex-dividend date is Thursday, October 19th.
Hedge funds have recently modified their holdings of the company. Boyd Watterson Asset Management LLC OH raised its stake in shares of Bae Systems PLC by 0.5% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 7,176 shares of the aerospace company’s stock valued at $236,000 after buying an additional 36 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Bae Systems PLC by 14.1% in the first quarter. Eqis Capital Management Inc. now owns 8,702 shares of the aerospace company’s stock valued at $282,000 after buying an additional 1,075 shares during the last quarter. Hartwell J M Limited Partnership purchased a new stake in shares of Bae Systems PLC during the first quarter valued at approximately $435,000. Moody Lynn & Lieberson LLC purchased a new stake in shares of Bae Systems PLC during the second quarter valued at approximately $530,000. Finally, Geneva Advisors LLC purchased a new stake in shares of Bae Systems PLC during the second quarter valued at approximately $860,000. 0.41% of the stock is owned by institutional investors.
About Bae Systems PLC
BAE Systems plc is a defense, aerospace and security company. The Company operates through five segments. The Electronic Systems segment consists of the Company’s United States and United Kingdom-based electronics activities. The Cyber & Intelligence segment consists of its United States-based Intelligence & Security business and United Kingdom-based Applied Intelligence business, and covers the Company’s cyber, secure government, and commercial and financial security activities.
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