BAE Systems (BAESY) Stock Rating Lowered by Zacks Investment Research
BAE Systems (OTCMKTS:BAESY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
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 analysts also recently issued reports about the company. UBS Group upgraded BAE Systems from a “neutral” rating to a “buy” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. downgraded BAE Systems from a “neutral” rating to an “underweight” rating in a report on Friday, February 23rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.00.
A number of institutional investors and hedge funds have recently bought and sold shares of BAESY. Parametric Portfolio Associates LLC grew its stake in BAE Systems by 7.9% in the third quarter. Parametric Portfolio Associates LLC now owns 543,682 shares of the aerospace company’s stock valued at $18,757,000 after purchasing an additional 39,716 shares during the last quarter. NorthCoast Asset Management LLC purchased a new position in BAE Systems in the fourth quarter valued at about $1,767,000. Logan Capital Management Inc. grew its stake in BAE Systems by 11.3% in the fourth quarter. Logan Capital Management Inc. now owns 36,927 shares of the aerospace company’s stock valued at $1,151,000 after purchasing an additional 3,743 shares during the last quarter. Finally, Intercontinental Wealth Advisors LLC purchased a new position in BAE Systems in the fourth quarter valued at about $279,000. Institutional investors own 0.43% of the company’s stock.
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BAE Systems Company Profile
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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