Zacks Investment Research Downgrades Bae Systems PLC (BAESY) to Hold
Bae Systems PLC (OTCMKTS:BAESY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research 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 equities analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered shares of Bae Systems PLC from an “overweight” rating to a “neutral” rating in a research report on Friday, June 23rd. ValuEngine raised shares of Bae Systems PLC from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Bae Systems PLC presently has a consensus rating of “Hold” and a consensus target price of $39.00.
Bae Systems PLC (BAESY) opened at 32.17 on Tuesday. The firm’s 50-day moving average is $33.79 and its 200-day moving average is $32.18. Bae Systems PLC has a 1-year low of $25.94 and a 1-year high of $35.23.
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Large investors have recently made changes to their positions in the stock. Hartwell J M Limited Partnership acquired a new stake in shares of Bae Systems PLC during the first quarter valued at about $435,000. Ferguson Wellman Capital Management Inc. increased its stake in shares of Bae Systems PLC by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 308,788 shares of the aerospace company’s stock valued at $9,924,000 after buying an additional 9,700 shares in the last quarter. Eqis Capital Management Inc. increased its stake in shares of 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 in the last quarter. Parametric Portfolio Associates LLC increased its stake in shares of Bae Systems PLC by 23.8% in the first quarter. Parametric Portfolio Associates LLC now owns 457,587 shares of the aerospace company’s stock valued at $14,853,000 after buying an additional 87,846 shares in the last quarter. Finally, Schafer Cullen Capital Management Inc. increased its stake in shares of Bae Systems PLC by 4.3% in the first quarter. Schafer Cullen Capital Management Inc. now owns 2,301,831 shares of the aerospace company’s stock valued at $74,717,000 after buying an additional 93,876 shares in the last quarter. 0.41% of the stock is currently owned by hedge funds and other 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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