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

BAE Systems plc (OTCMKTS:BAESY)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $68.12 and traded as high as $69.20. BAE Systems shares last traded at $68.88, with a volume of 124,782 shares.

Wall Street Analysts Forecast Growth

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

BAE Systems Stock Down 0.3 %

The business’s 50 day moving average is $68.63 and its 200 day moving average is $68.12.

BAE Systems Cuts Dividend

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

Hedge Funds Weigh In On BAE Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAESY. Confluence Investment Management LLC purchased a new position in BAE Systems in the second quarter worth $682,000. GAMMA Investing LLC boosted its position in shares of BAE Systems by 16.4% in the 1st quarter. GAMMA Investing LLC now owns 1,548 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 218 shares in the last quarter. Rhumbline Advisers increased its position in BAE Systems by 29.3% during the 2nd quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock valued at $307,000 after buying an additional 1,042 shares in the last quarter. Finally, Atlas Capital Advisors LLC raised its stake in BAE Systems by 68.9% in the second quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock valued at $270,000 after buying an additional 1,650 shares during the last quarter. Hedge funds and other institutional investors own 0.21% of the company’s stock.

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.