BAE SYS PLC/S (OTCMKTS:BAESY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday, Zacks.com reports. The brokerage presently has a $30.00 price objective on the aerospace company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 9.25% from the stock’s current price.
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. “
Several other analysts have also commented on BAESY. Societe Generale reaffirmed a “buy” rating on shares of BAE SYS PLC/S in a report on Tuesday. UBS Group reaffirmed a “neutral” rating on shares of BAE SYS PLC/S in a report on Monday, May 18th. Deutsche Bank reissued a “buy” rating on shares of BAE SYS PLC/S in a report on Thursday, July 2nd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of BAE SYS PLC/S in a report on Friday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $30.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC lifted its position in shares of BAE SYS PLC/S by 3.2% in the first quarter. Parametric Portfolio Associates LLC now owns 886,796 shares of the aerospace company’s stock valued at $22,658,000 after acquiring an additional 27,773 shares in the last quarter. Meritage Portfolio Management lifted its position in shares of BAE SYS PLC/S by 64.1% in the second quarter. Meritage Portfolio Management now owns 121,289 shares of the aerospace company’s stock valued at $2,911,000 after acquiring an additional 47,389 shares in the last quarter. Logan Capital Management Inc. lifted its position in shares of BAE SYS PLC/S by 2.1% in the second quarter. Logan Capital Management Inc. now owns 49,857 shares of the aerospace company’s stock valued at $1,191,000 after acquiring an additional 1,035 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of BAE SYS PLC/S in the second quarter valued at approximately $469,000. Finally, Cornerstone Investment Partners LLC purchased a new position in shares of BAE SYS PLC/S in the second quarter valued at approximately $222,000. Institutional investors and hedge funds own 0.22% of the company’s stock.
BAE SYS PLC/S Company Profile
BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, and Maritime. The Electronic Systems segment offers electronic warfare systems and electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance systems, and hybrid electric drive systems.
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