Sterling Capital Management LLC Acquires New Stake in Bae Systems PLC $BAESY

Sterling Capital Management LLC bought a new position in Bae Systems PLC (OTCMKTS:BAESY) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,874 shares of the aerospace company’s stock, valued at approximately $1,146,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrow Capital Pty Ltd acquired a new position in shares of Bae Systems during the third quarter worth about $5,531,000. Altrius Capital Management Inc raised its position in Bae Systems by 5.5% in the 4th quarter. Altrius Capital Management Inc now owns 93,878 shares of the aerospace company’s stock valued at $8,719,000 after buying an additional 4,911 shares during the last quarter. First Merchants Corp lifted its stake in Bae Systems by 1.3% in the 1st quarter. First Merchants Corp now owns 68,422 shares of the aerospace company’s stock valued at $7,940,000 after acquiring an additional 854 shares in the last quarter. Riverbridge Partners LLC acquired a new position in Bae Systems during the 1st quarter worth approximately $221,000. Finally, Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Bae Systems during the 1st quarter worth approximately $307,000. Institutional investors and hedge funds own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

BAESY has been the subject of several recent research reports. Morgan Stanley restated an “overweight” rating on shares of Bae Systems in a report on Thursday, June 25th. Kepler Capital Markets raised shares of Bae Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 24th. Finally, Erste Group Bank downgraded shares of Bae Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Bae Systems Stock Performance

OTCMKTS BAESY opened at $97.95 on Wednesday. Bae Systems PLC has a 12 month low of $84.50 and a 12 month high of $126.00. 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 stock has a 50 day moving average of $104.50 and a 200-day moving average of $108.42.

Bae Systems Company Profile

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.