Bae Systems (OTCMKTS:BAESY) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Bae Systems PLC (OTCMKTS:BAESY) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $99.43 and traded as high as $110.84. Bae Systems shares last traded at $110.00, with a volume of 258,026 shares traded.

Analysts Set New Price Targets

Several equities analysts have commented on BAESY shares. Erste Group Bank initiated coverage on shares of Bae Systems in a research report on Friday, October 3rd. They set a “buy” rating on the stock. Jefferies Financial Group downgraded Bae Systems to a “hold” rating in a research report on Friday. Kepler Capital Markets raised Bae Systems from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 6th. Finally, Sanford C. Bernstein downgraded shares of Bae Systems from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Bae Systems Trading Down 1.2%

The company has a current ratio of 0.96, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64. The business has a 50-day simple moving average of $98.41 and a 200-day simple moving average of $99.47.

Institutional Investors Weigh In On Bae Systems

Hedge funds have recently made changes to their positions in the business. Hantz Financial Services Inc. raised 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 valued at $36,000 after purchasing an additional 138 shares during the period. Rhumbline Advisers lifted its stake in shares of Bae Systems by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 5,643 shares of the aerospace company’s stock worth $593,000 after acquiring an additional 158 shares during the period. Salomon & Ludwin LLC increased 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 valued at $29,000 after buying an additional 252 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Bae Systems during the 3rd quarter valued at $44,000. Finally, First Horizon Advisors Inc. increased its stake in Bae Systems by 68.7% in the 2nd 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 period. Institutional investors and hedge funds 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.