BAE Systems’ (BAESY) Underperform Rating Reiterated at Bank of America

Bank of America reiterated their underperform rating on shares of BAE Systems (OTCMKTS:BAESY) in a research note issued to investors on Friday, MarketBeat Ratings reports.

BAE Systems Trading Down 4.2 %

Shares of BAE Systems stock opened at $62.44 on Friday. BAE Systems has a twelve month low of $51.72 and a twelve month high of $72.81. The business’s 50 day simple moving average is $67.37 and its 200-day simple moving average is $67.98.

BAE Systems Cuts Dividend

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

Institutional Investors Weigh In On BAE Systems

Several large investors have recently made changes to their positions in BAESY. Confluence Investment Management LLC bought a new stake in shares of BAE Systems during the second quarter valued at about $682,000. Principal Street Partners LLC increased 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 buying an additional 8,769 shares during the period. Dorsey Wright & Associates raised its position in shares of BAE Systems by 11.7% during the 3rd quarter. Dorsey Wright & Associates now owns 56,856 shares of the aerospace company’s stock worth $3,775,000 after buying an additional 5,936 shares in the last quarter. Altrius Capital Management Inc lifted its stake in shares of BAE Systems by 2.3% in the 3rd quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company’s stock worth $7,266,000 after acquiring an additional 2,470 shares during the period. Finally, Atlas Capital Advisors LLC boosted its holdings in shares of 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 acquiring an additional 1,650 shares in the last quarter. Institutional investors and hedge funds 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.