BAE Systems plc (BA) Downgraded by Berenberg Bank to “Hold”
Berenberg Bank lowered shares of BAE Systems plc (LON:BA) to a hold rating in a report published on Tuesday. Berenberg Bank currently has GBX 600 ($7.96) target price on the stock, down from their prior target price of GBX 700 ($9.29).
Several other research analysts have also recently weighed in on BA. Barclays PLC reaffirmed an underweight rating and set a GBX 460 ($6.10) target price on shares of BAE Systems plc in a research note on Tuesday, August 29th. Beaufort Securities reaffirmed a buy rating on shares of BAE Systems plc in a research note on Thursday, August 3rd. Deutsche Bank AG boosted their target price on shares of BAE Systems plc from GBX 645 ($8.56) to GBX 670 ($8.89) and gave the stock a buy rating in a report on Thursday, August 31st. J P Morgan Chase & Co restated a neutral rating and set a GBX 630 ($8.36) target price on shares of BAE Systems plc in a report on Monday, July 24th. Finally, Kepler Capital Markets reiterated a buy rating and set a GBX 700 ($9.29) price objective on shares of BAE Systems plc in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of GBX 648.08 ($8.60).
Shares of BAE Systems plc (BA) traded down 0.08% during mid-day trading on Tuesday, hitting GBX 619.50. The company had a trading volume of 3,679,839 shares. BAE Systems plc has a 52-week low of GBX 526.91 and a 52-week high of GBX 682.50. The stock’s market cap is GBX 19.69 billion. The stock’s 50-day moving average is GBX 607.54 and its 200-day moving average is GBX 628.24.
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The company also recently announced a dividend, which will be paid on Thursday, November 30th. Stockholders of record on Thursday, October 19th will be issued a GBX 8.80 ($0.12) dividend. This represents a dividend yield of 1.51%. The ex-dividend date is Thursday, October 19th.
In other news, insider Roger Carr bought 33,869 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average price of GBX 591 ($7.84) per share, for a total transaction of £200,165.79 ($265,507.08). Over the last 90 days, insiders acquired 33,945 shares of company stock worth $20,061,785.
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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