BAE Systems (OTCMKTS:BAESY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” 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. “
A number of other research analysts have also recently weighed in on the company. UBS Group upgraded BAE Systems from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. cut BAE Systems from a “neutral” rating to an “underweight” rating in a research report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.00.
Several hedge funds have recently made changes to their positions in BAESY. Logan Capital Management Inc. increased its position in BAE Systems by 11.3% during the 4th quarter. Logan Capital Management Inc. now owns 36,927 shares of the aerospace company’s stock worth $1,151,000 after purchasing an additional 3,743 shares in the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in BAE Systems during the 4th quarter worth about $279,000. Parametric Portfolio Associates LLC increased its position in BAE Systems by 7.9% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 543,682 shares of the aerospace company’s stock worth $18,757,000 after purchasing an additional 39,716 shares in the last quarter. Finally, NorthCoast Asset Management LLC purchased a new stake in BAE Systems during the 4th quarter worth about $1,767,000. Institutional investors and hedge funds own 0.43% of the company’s stock.
About BAE Systems
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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