Zacks Investment Research Lowers BAE SYS PLC/S (OTCMKTS:BAESY) to Hold

BAE SYS PLC/S (OTCMKTS:BAESY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

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. “

Other research analysts also recently issued reports about the company. Deutsche Bank reiterated a “buy” rating on shares of BAE SYS PLC/S in a report on Thursday, July 2nd. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of BAE SYS PLC/S in a report on Friday, July 31st. Finally, UBS Group reiterated a “neutral” rating on shares of BAE SYS PLC/S in a report on Monday, May 18th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. BAE SYS PLC/S has a consensus rating of “Buy” and an average price target of $30.00.

Shares of BAE SYS PLC/S stock traded up $0.33 during trading hours on Wednesday, hitting $27.21. The company’s stock had a trading volume of 88,724 shares, compared to its average volume of 273,945. BAE SYS PLC/S has a 12 month low of $19.89 and a 12 month high of $34.74. The stock has a 50 day moving average of $26.98 and a 200 day moving average of $26.17. The company has a market capitalization of $21.97 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 12.08 and a beta of 0.89. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.01 and a quick ratio of 0.92.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Parametric Portfolio Associates LLC boosted its position in BAE SYS PLC/S by 3.2% during the first quarter. Parametric Portfolio Associates LLC now owns 886,796 shares of the aerospace company’s stock valued at $22,658,000 after purchasing an additional 27,773 shares during the last quarter. Meritage Portfolio Management boosted its position in BAE SYS PLC/S by 64.1% during the second quarter. Meritage Portfolio Management now owns 121,289 shares of the aerospace company’s stock valued at $2,911,000 after purchasing an additional 47,389 shares during the last quarter. Logan Capital Management Inc. boosted its position in BAE SYS PLC/S by 2.1% during the second quarter. Logan Capital Management Inc. now owns 49,857 shares of the aerospace company’s stock valued at $1,191,000 after purchasing an additional 1,035 shares during the last quarter. Silvercrest Asset Management Group LLC acquired a new position in BAE SYS PLC/S during the second quarter valued at approximately $469,000. Finally, Cornerstone Investment Partners LLC acquired a new position in BAE SYS PLC/S during the second quarter valued at approximately $222,000. 0.22% of the stock is owned by hedge funds and other institutional investors.

BAE SYS PLC/S Company Profile

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

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Analyst Recommendations for BAE SYS PLC/S (OTCMKTS:BAESY)

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