Confluence Investment Management LLC Decreases Stake in BAE Systems plc (OTCMKTS:BAESY)

Confluence Investment Management LLC cut its stake in shares of BAE Systems plc (OTCMKTS:BAESY) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,209 shares of the aerospace company’s stock after selling 690 shares during the quarter. Confluence Investment Management LLC’s holdings in BAE Systems were worth $526,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Principal Street Partners LLC lifted its stake in BAE Systems by 99.0% during the 3rd quarter. Principal Street Partners LLC now owns 17,628 shares of the aerospace company’s stock valued at $1,178,000 after acquiring an additional 8,769 shares during the period. Rhumbline Advisers raised its holdings in shares of BAE Systems by 29.3% during the second quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock worth $307,000 after purchasing an additional 1,042 shares during the last quarter. Dorsey Wright & Associates boosted its holdings in BAE Systems by 11.7% in the third quarter. Dorsey Wright & Associates now owns 56,856 shares of the aerospace company’s stock valued at $3,775,000 after purchasing an additional 5,936 shares during the last quarter. Finally, Altrius Capital Management Inc grew its position in BAE Systems by 2.3% during the 3rd quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company’s stock worth $7,266,000 after purchasing an additional 2,470 shares during the period. 0.21% of the stock is owned by institutional investors and hedge funds.

BAE Systems Stock Performance

Shares of OTCMKTS BAESY opened at $56.89 on Friday. The company has a 50 day simple moving average of $63.42 and a 200-day simple moving average of $66.14. BAE Systems plc has a 1 year low of $56.19 and a 1 year high of $72.81.

Analyst Upgrades and Downgrades

Separately, Bank of America reissued an “underperform” rating on shares of BAE Systems in a report on Friday, November 29th.

BAE Systems Company Profile

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.