Bank of America Reiterates Underperform Rating for BAE Systems (OTCMKTS:BAESY)

BAE Systems (OTCMKTS:BAESY)‘s stock had its “underperform” rating restated by research analysts at Bank of America in a research note issued on Friday, Marketbeat.com reports.

BAE Systems Stock Down 4.2 %

BAE Systems stock opened at $62.44 on Friday. The company has a fifty day simple moving average of $67.37 and a 200-day simple moving average of $67.99. BAE Systems has a 12-month low of $51.72 and a 12-month high of $72.81.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Confluence Investment Management LLC purchased a new position in shares of BAE Systems in the 2nd quarter valued at $682,000. Principal Street Partners LLC raised its position in BAE Systems by 99.0% in the third quarter. Principal Street Partners LLC now owns 17,628 shares of the aerospace company’s stock valued at $1,178,000 after purchasing an additional 8,769 shares during the period. Rhumbline Advisers lifted its stake 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 in the last quarter. Atlas Capital Advisors LLC grew its stake 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 buying an additional 1,650 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of BAE Systems by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,870 shares of the aerospace company’s stock valued at $125,000 after buying an additional 322 shares during the period. 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.