Bae Systems PLC $BAESY Shares Bought by First Merchants Corp

First Merchants Corp increased its stake in Bae Systems PLC (OTCMKTS:BAESY) by 9.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,252 shares of the aerospace company’s stock after purchasing an additional 5,144 shares during the period. First Merchants Corp’s holdings in Bae Systems were worth $6,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Bae Systems by 26.0% in the 1st quarter. GAMMA Investing LLC now owns 2,260 shares of the aerospace company’s stock worth $186,000 after purchasing an additional 466 shares in the last quarter. L & S Advisors Inc acquired a new stake in Bae Systems during the 1st quarter valued at approximately $1,078,000. Corient IA LLC acquired a new stake in Bae Systems during the 1st quarter valued at approximately $805,000. Rhumbline Advisers lifted its stake in Bae Systems by 19.6% during the 1st quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company’s stock valued at $451,000 after acquiring an additional 897 shares during the period. Finally, HighPoint Advisor Group LLC acquired a new stake in Bae Systems during the 1st quarter valued at approximately $185,000. 0.21% of the stock is currently owned by institutional investors and hedge funds.

Bae Systems Stock Up 1.8%

OTCMKTS:BAESY opened at $109.37 on Thursday. The company has a 50 day moving average price of $101.16 and a 200-day moving average price of $98.08. Bae Systems PLC has a 1-year low of $56.19 and a 1-year high of $111.96.

Analysts Set New Price Targets

Several analysts have commented on the stock. Kepler Capital Markets cut shares of Bae Systems from a “hold” rating to a “reduce” rating in a research note on Monday, July 7th. The Goldman Sachs Group assumed coverage on shares of Bae Systems in a research note on Friday, September 19th. They set a “buy” rating for the company. Jefferies Financial Group upgraded shares of Bae Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 1st. Finally, Erste Group Bank assumed coverage on shares of Bae Systems in a research note on Friday, October 3rd. They set a “buy” rating for the company. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bae Systems presently has a consensus rating of “Moderate Buy”.

Bae Systems Profile

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.