BAE SYS PLC/S (BAESY) Stock Rating Lowered by Zacks Investment Research
BAE SYS PLC/S (OTCMKTS:BAESY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.
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 brokerages also recently weighed in on BAESY. Bank of America downgraded BAE SYS PLC/S from a “buy” rating to a “neutral” rating in a report on Tuesday. Raymond James upgraded BAE SYS PLC/S from an “underperform” rating to a “market perform” rating in a report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.
A hedge fund recently bought a new stake in BAE SYS PLC/S stock. Glenmede Trust Co. NA purchased a new stake in BAE SYS PLC/S (OTCMKTS:BAESY) in the third quarter, according to its most recent filing with the SEC. The fund purchased 144,480 shares of the aerospace company’s stock, valued at approximately $4,746,000. Hedge funds and other institutional investors own 0.42% of the company’s stock.
About BAE SYS PLC/S
BAE Systems plc operates as a defense, aerospace, and security company worldwide. Its Electronic Systems segment offers electronic warfare systems and electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance systems, and hybrid electric drive systems.
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