Bae Systems PLC (OTCMKTS:BAESY) Short Interest Update

Bae Systems PLC (OTCMKTS:BAESY) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 24,682 shares, a decrease of 49.5% from the May 31st total of 48,909 shares. Based on an average daily volume of 480,870 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Institutional Investors Weigh In On Bae Systems

Hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. grew its position in shares of Bae Systems by 9.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,690 shares of the aerospace company’s stock valued at $157,000 after acquiring an additional 140 shares during the period. Rhumbline Advisers boosted its position in Bae Systems by 2.9% during the second quarter. Rhumbline Advisers now owns 5,643 shares of the aerospace company’s stock worth $593,000 after purchasing an additional 158 shares in the last quarter. RNC Capital Management LLC boosted its position in Bae Systems by 4.2% during the fourth quarter. RNC Capital Management LLC now owns 5,655 shares of the aerospace company’s stock worth $525,000 after purchasing an additional 227 shares in the last quarter. Confluence Investment Management LLC grew its holdings in Bae Systems by 4.7% in the fourth quarter. Confluence Investment Management LLC now owns 12,792 shares of the aerospace company’s stock valued at $1,188,000 after purchasing an additional 577 shares during the period. Finally, First Merchants Corp increased its position in shares of Bae Systems by 1.3% in the first quarter. First Merchants Corp now owns 68,422 shares of the aerospace company’s stock valued at $7,940,000 after buying an additional 854 shares in the last quarter. 0.21% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on BAESY. Erste Group Bank lowered Bae Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 25th. Morgan Stanley restated an “overweight” rating on shares of Bae Systems in a research note on Thursday, June 25th. Finally, Kepler Capital Markets raised Bae Systems from a “hold” rating to a “buy” rating in a report on Wednesday, June 24th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Bae Systems Price Performance

BAESY opened at $97.95 on Wednesday. The firm has a fifty day moving average price of $104.50 and a 200 day moving average price of $108.42. Bae Systems has a 1 year low of $84.50 and a 1 year high of $126.00. The company has a current ratio of 0.99, a quick ratio of 0.87 and a debt-to-equity ratio of 0.60.

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.