Bae Systems (OTCMKTS:BAESY) Shares Gap Up – Still a Buy?

Bae Systems PLC (OTCMKTS:BAESY) shares gapped up before the market opened on Thursday . The stock had previously closed at $104.63, but opened at $109.90. Bae Systems shares last traded at $111.31, with a volume of 125,538 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BAESY. The Goldman Sachs Group initiated coverage on shares of Bae Systems in a research report on Friday, September 19th. They issued a “buy” rating on the stock. Erste Group Bank began coverage on shares of Bae Systems in a report on Friday, October 3rd. They issued a “buy” rating on the stock. Sanford C. Bernstein downgraded shares of Bae Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Kepler Capital Markets raised Bae Systems from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

Bae Systems Price Performance

The company’s 50 day simple moving average is $92.80 and its 200-day simple moving average is $98.44.

Institutional Trading of Bae Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. L & S Advisors Inc increased its stake in Bae Systems by 27.2% in the 2nd quarter. L & S Advisors Inc now owns 16,669 shares of the aerospace company’s stock worth $1,751,000 after buying an additional 3,562 shares during the period. First Merchants Corp increased its position in shares of Bae Systems by 9.0% during the second quarter. First Merchants Corp now owns 62,252 shares of the aerospace company’s stock worth $6,437,000 after acquiring an additional 5,144 shares during the period. GAMMA Investing LLC raised its stake in shares of Bae Systems by 25.6% during the second quarter. GAMMA Investing LLC now owns 2,838 shares of the aerospace company’s stock valued at $298,000 after acquiring an additional 578 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Bae Systems by 19.6% in the first quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company’s stock valued at $451,000 after purchasing an additional 897 shares during the period. Finally, Ramirez Asset Management Inc. grew its stake in Bae Systems by 2.9% in the second quarter. Ramirez Asset Management Inc. now owns 68,509 shares of the aerospace company’s stock worth $7,084,000 after purchasing an additional 1,954 shares in the last quarter. Hedge funds and other institutional investors own 0.21% of the company’s stock.

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.