BAE Systems (OTCMKTS:BAESY) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of BAE Systems plc (OTCMKTS:BAESY) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $68.16 and traded as high as $69.40. BAE Systems shares last traded at $69.40, with a volume of 99,307 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded shares of BAE Systems from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th.

BAE Systems Trading Up 4.1 %

The company’s fifty day moving average price is $68.06 and its 200-day moving average price is $68.16.

BAE Systems Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, December 9th. Investors of record on Friday, October 25th will be issued a dividend of $0.6333 per share. The ex-dividend date is Friday, October 25th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in BAE Systems by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,870 shares of the aerospace company’s stock worth $125,000 after buying an additional 322 shares in the last quarter. Atlas Capital Advisors LLC raised its stake in BAE Systems by 68.9% during the second quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock worth $270,000 after purchasing an additional 1,650 shares during the period. Rhumbline Advisers raised its position in BAE Systems by 29.3% in the second quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock valued at $307,000 after purchasing an additional 1,042 shares during the period. Confluence Investment Management LLC purchased a new stake in BAE Systems in the 2nd quarter valued at about $682,000. Finally, Altrius Capital Management Inc increased its holdings in BAE Systems by 2.3% in the 3rd quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company’s stock valued at $7,266,000 after purchasing an additional 2,470 shares during the last quarter. Institutional investors and hedge funds own 0.21% of the company’s stock.

About BAE Systems

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Platforms & Services, Air, Maritime, and Cyber & Intelligence. The Electronic Systems segment offers electronic warfare systems, navigation systems, electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance capabilities, space electronics, and electric drive propulsion systems.