Bae Systems (OTCMKTS:BAESY) Reaches New 52-Week High – Here’s Why

Shares of Bae Systems PLC (OTCMKTS:BAESY) hit a new 52-week high on Friday . The stock traded as high as $112.01 and last traded at $111.8574, with a volume of 522472 shares traded. The stock had previously closed at $110.25.

Analyst Upgrades and Downgrades

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

Bae Systems Stock Performance

The stock’s 50-day moving average is $93.06 and its 200 day moving average is $98.53.

Institutional Investors Weigh In On Bae Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hantz Financial Services Inc. grew its stake in shares of Bae Systems by 73.0% during the third quarter. Hantz Financial Services Inc. now owns 327 shares of the aerospace company’s stock worth $36,000 after acquiring an additional 138 shares during the last quarter. Rhumbline Advisers increased its stake in Bae Systems by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 5,643 shares of the aerospace company’s stock valued at $593,000 after purchasing an additional 158 shares in the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Bae Systems by 3,150.0% in the third quarter. Salomon & Ludwin LLC now owns 260 shares of the aerospace company’s stock worth $29,000 after buying an additional 252 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Bae Systems during the third quarter worth $44,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Bae Systems by 68.7% during the second quarter. First Horizon Advisors Inc. now owns 1,046 shares of the aerospace company’s stock valued at $110,000 after buying an additional 426 shares during the last quarter. 0.21% of the stock is currently owned by hedge funds and other institutional investors.

About Bae Systems

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.