Zacks Investment Research upgraded shares of Bae Systems PLC (OTCMKTS:BAESY) from a hold rating to a buy rating in a research note published on Wednesday. The brokerage currently has $36.00 target price on the aerospace company’s stock.
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 research analysts have also issued reports on BAESY. ValuEngine raised Bae Systems PLC from a hold rating to a buy rating in a report on Friday, June 2nd. J P Morgan Chase & Co lowered Bae Systems PLC from an overweight rating to a neutral rating in a report on Friday, June 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $36.00.
Shares of Bae Systems PLC (OTCMKTS BAESY) opened at 32.90 on Wednesday. The firm has a market capitalization of $26.15 billion, a PE ratio of 19.22 and a beta of 0.83. Bae Systems PLC has a 52 week low of $25.94 and a 52 week high of $35.23. The company has a 50-day moving average of $31.51 and a 200-day moving average of $32.62.
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The company also recently announced a None dividend, which will be paid on Thursday, December 7th. Investors of record on Friday, October 20th will be issued a dividend of $0.437 per share. The ex-dividend date is Thursday, October 19th.
A number of large investors have recently added to or reduced their stakes in the stock. Boyd Watterson Asset Management LLC OH grew its holdings in Bae Systems PLC by 0.5% during the second quarter. Boyd Watterson Asset Management LLC OH now owns 7,176 shares of the aerospace company’s stock worth $236,000 after acquiring an additional 36 shares during the period. Logan Capital Management Inc. grew its holdings in Bae Systems PLC by 1.7% during the second quarter. Logan Capital Management Inc. now owns 30,395 shares of the aerospace company’s stock worth $1,001,000 after acquiring an additional 503 shares during the period. Eqis Capital Management Inc. grew its holdings in Bae Systems PLC by 9.2% during the second quarter. Eqis Capital Management Inc. now owns 9,499 shares of the aerospace company’s stock worth $319,000 after acquiring an additional 797 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in Bae Systems PLC by 0.6% during the second quarter. Ferguson Wellman Capital Management Inc. now owns 310,708 shares of the aerospace company’s stock worth $10,227,000 after acquiring an additional 1,920 shares during the period. Finally, Ranger International Management LP acquired a new position in Bae Systems PLC during the second quarter worth about $500,000. 0.43% 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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