Bae Systems (OTCMKTS:BAESY) Shares Gap Up – Here’s Why

Bae Systems PLC (OTCMKTS:BAESY)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $99.68, but opened at $105.49. Bae Systems shares last traded at $106.60, with a volume of 16,708 shares trading hands.

Analysts Set New Price Targets

A number of research firms have recently commented on BAESY. Erste Group Bank cut Bae Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. Kepler Capital Markets raised Bae Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 24th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Bae Systems in a research note on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Bae Systems Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 0.99 and a quick ratio of 0.87. The business’s fifty day moving average is $103.67 and its two-hundred day moving average is $108.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Confluence Investment Management LLC boosted its position in shares of Bae Systems by 0.9% during the second quarter. Confluence Investment Management LLC now owns 13,420 shares of the aerospace company’s stock valued at $1,314,000 after buying an additional 115 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Bae Systems by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,690 shares of the aerospace company’s stock valued at $157,000 after acquiring an additional 140 shares during the period. Rhumbline Advisers lifted its stake in Bae Systems by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 5,643 shares of the aerospace company’s stock valued at $593,000 after acquiring an additional 158 shares during the period. RNC Capital Management LLC boosted its holdings in shares of Bae Systems by 4.2% during the 4th quarter. RNC Capital Management LLC now owns 5,655 shares of the aerospace company’s stock valued at $525,000 after acquiring an additional 227 shares during the last quarter. Finally, First Merchants Corp grew its stake in shares of Bae Systems by 1.3% in the first quarter. First Merchants Corp now owns 68,422 shares of the aerospace company’s stock worth $7,940,000 after acquiring an additional 854 shares during the period. 0.21% of the stock is owned by institutional investors.

About Bae Systems

BAE Systems plc is a global defense, security and aerospace company that designs, develops and manufactures a broad range of military and related products and services. Formed in 1999 through the combination of British Aerospace and Marconi Electronic Systems, the company supplies platforms, systems and support across air, land, maritime and cyber domains. Its portfolio spans combat and support aircraft systems, naval shipbuilding and subsystems, armored and land combat solutions, electronic and sensor systems, munitions, and intelligence, surveillance and cybersecurity capabilities.

BAE Systems serves government and military customers worldwide, with particularly large footprints in the United Kingdom and the United States as well as operations and sales across Europe, the Middle East, Australia and other markets.