Bae Systems PLC (BAESY) Upgraded at Zacks Investment Research
Bae Systems PLC (OTCMKTS:BAESY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 issued reports about the stock. ValuEngine raised shares of Bae Systems PLC from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. J P Morgan Chase & Co lowered shares of Bae Systems PLC from an “overweight” rating to a “neutral” rating in a research note on Friday, June 23rd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Bae Systems PLC currently has a consensus rating of “Buy” and a consensus price target of $39.00.
Shares of Bae Systems PLC (OTCMKTS BAESY) traded up 0.61% during midday trading on Wednesday, reaching $31.25. 56,644 shares of the company’s stock traded hands. Bae Systems PLC has a 52-week low of $25.94 and a 52-week high of $35.23.
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Several hedge funds have recently made changes to their positions in BAESY. Schafer Cullen Capital Management Inc. increased its stake in shares of Bae Systems PLC by 4.3% in the second quarter. Schafer Cullen Capital Management Inc. now owns 2,400,486 shares of the aerospace company’s stock valued at $80,512,000 after buying an additional 98,655 shares in the last quarter. Logan Capital Management Inc. increased its stake in shares of Bae Systems PLC by 1.7% in the second quarter. Logan Capital Management Inc. now owns 30,395 shares of the aerospace company’s stock valued at $1,001,000 after buying an additional 503 shares in the last quarter. Ranger International Management LP purchased a new stake in shares of Bae Systems PLC during the second quarter valued at approximately $500,000. Parametric Portfolio Associates LLC increased its stake in shares of Bae Systems PLC by 10.7% in the second quarter. Parametric Portfolio Associates LLC now owns 506,764 shares of the aerospace company’s stock valued at $16,997,000 after buying an additional 49,177 shares in the last quarter. Finally, Geneva Advisors LLC purchased a new stake in shares of Bae Systems PLC during the second quarter valued at approximately $860,000. Institutional investors own 0.41% 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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