Citigroup Upgrades BAE Systems (OTCMKTS:BAESY) to Buy

BAE Systems (OTCMKTS:BAESY) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a report released on Monday, Marketbeat.com reports.

Separately, Bank of America downgraded shares of BAE Systems from a “buy” rating to a “neutral” rating in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $1,142.00.

BAE Systems Stock Up 0.3 %

Shares of BAESY stock opened at $65.84 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The stock has a 50 day simple moving average of $68.05 and a 200 day simple moving average of $66.53. BAE Systems has a 1 year low of $47.81 and a 1 year high of $72.81.

Hedge Funds Weigh In On BAE Systems

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in BAE Systems by 16.4% in the first quarter. GAMMA Investing LLC now owns 1,548 shares of the aerospace company’s stock worth $107,000 after purchasing an additional 218 shares during the last quarter. Equitable Trust Co. raised its position in BAE Systems by 0.9% in the first quarter. Equitable Trust Co. now owns 57,841 shares of the aerospace company’s stock worth $3,944,000 after acquiring an additional 515 shares during the period. SVB Wealth LLC raised its position in BAE Systems by 13.0% in the fourth quarter. SVB Wealth LLC now owns 4,733 shares of the aerospace company’s stock worth $274,000 after acquiring an additional 546 shares during the period. Atlas Capital Advisors LLC raised its position 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 worth $270,000 after acquiring an additional 1,650 shares during the period. Finally, Confluence Investment Management LLC bought a new stake in BAE Systems in the second quarter worth about $682,000. 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.