Bae Systems PLC (BAESY) Upgraded to Hold by Zacks Investment Research
Bae Systems PLC (OTCMKTS:BAESY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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. “
Several other research firms have also issued reports on BAESY. ValuEngine raised shares of Bae Systems PLC from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. J P Morgan Chase & Co lowered shares of Bae Systems PLC from an “overweight” rating to a “neutral” rating in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.00.
Shares of Bae Systems PLC (BAESY) traded up 0.61% during mid-day trading on Wednesday, reaching $31.25. The company had a trading volume of 56,644 shares. Bae Systems PLC has a 52-week low of $25.94 and a 52-week high of $35.23.
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Hedge funds have recently bought and sold shares of the company. Boyd Watterson Asset Management LLC OH raised its stake in Bae Systems PLC by 0.5% in the second quarter. Boyd Watterson Asset Management LLC OH now owns 7,176 shares of the aerospace company’s stock valued at $236,000 after buying an additional 36 shares during the last quarter. Eqis Capital Management Inc. raised its stake in Bae Systems PLC by 14.1% in the first quarter. Eqis Capital Management Inc. now owns 8,702 shares of the aerospace company’s stock valued at $282,000 after buying an additional 1,075 shares during the last quarter. Hartwell J M Limited Partnership purchased a new stake in Bae Systems PLC during the first quarter valued at $435,000. Ranger International Management LP purchased a new stake in Bae Systems PLC during the second quarter valued at $500,000. Finally, Moody Lynn & Lieberson LLC purchased a new stake in Bae Systems PLC during the second quarter valued at $530,000. 0.41% of the stock is owned by institutional investors.
About Bae Systems PLC
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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