Zacks Investment Research Upgrades BAE Systems PLC (BAESY) to Hold
BAE Systems PLC (OTCMKTS:BAESY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
Separately, Jefferies Group LLC restated a “hold” rating on shares of BAE Systems PLC in a report on Saturday, February 25th. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $33.00.
Shares of BAE Systems PLC (OTCMKTS:BAESY) traded up 0.09% during trading on Monday, hitting $33.70. 32,255 shares of the stock traded hands. The company’s 50 day moving average is $32.76 and its 200 day moving average is $30.94. The firm has a market cap of $26.75 billion, a PE ratio of 22.83 and a beta of 0.90. BAE Systems PLC has a 52-week low of $24.52 and a 52-week high of $33.93.
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Large investors have recently added to or reduced their stakes in the stock. Paradigm Asset Management Co. LLC increased its stake in BAE Systems PLC by 45.8% in the fourth quarter. Paradigm Asset Management Co. LLC now owns 3,500 shares of the aerospace company’s stock worth $102,000 after buying an additional 1,100 shares during the last quarter. Eqis Capital Management Inc. increased its stake in 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 worth $282,000 after buying an additional 1,075 shares during the last quarter. Hartwell J M Limited Partnership bought a new stake in BAE Systems PLC during the first quarter worth about $435,000. Ferguson Wellman Capital Management Inc. increased its stake in BAE Systems PLC by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 308,788 shares of the aerospace company’s stock worth $9,924,000 after buying an additional 9,700 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in BAE Systems PLC by 23.8% in the first quarter. Parametric Portfolio Associates LLC now owns 457,587 shares of the aerospace company’s stock worth $14,853,000 after buying an additional 87,846 shares during the last quarter. Hedge funds and other institutional investors own 0.23% of the company’s stock.
BAE Systems PLC Company Profile
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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