Bae Systems PLC $BAESY Shares Sold by Meritage Portfolio Management

Key Points

• Meritage Portfolio Management reduced its holdings in Bae Systems PLC by 85% in Q2, now owning 6,708 shares valued at approximately $705,000.
• Several institutional investors increased their stakes in Bae Systems, including First Horizon Advisors which raised its stake by 49.4%.
• Analyst ratings for Bae Systems are generally positive, with a consensus rating of "Moderate Buy" based on multiple upgrades from firms like Jefferies and Erste Group Bank.

Meritage Portfolio Management trimmed its holdings in Bae Systems PLC (OTCMKTS:BAESY - Free Report) by 85.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,708 shares of the aerospace company's stock after selling 37,882 shares during the period. Meritage Portfolio Management's holdings in Bae Systems were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of BAESY. First Horizon Advisors Inc. raised its stake in Bae Systems by 49.4% during the first quarter. First Horizon Advisors Inc. now owns 620 shares of the aerospace company's stock worth $51,000 after purchasing an additional 205 shares during the period. Atlas Capital Advisors Inc. raised its stake in Bae Systems by 116.9% during the first quarter. Atlas Capital Advisors Inc. now owns 1,900 shares of the aerospace company's stock worth $156,000 after purchasing an additional 1,024 shares during the period. HighPoint Advisor Group LLC purchased a new position in Bae Systems during the first quarter worth about $185,000. GAMMA Investing LLC raised its stake in Bae Systems by 26.0% during the first quarter. GAMMA Investing LLC now owns 2,260 shares of the aerospace company's stock worth $186,000 after purchasing an additional 466 shares during the period. Finally, Rhumbline Advisers raised its stake in Bae Systems by 19.6% during the first quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company's stock worth $451,000 after purchasing an additional 897 shares during the period. 0.21% of the stock is owned by hedge funds and other institutional investors.

Bae Systems Trading Down 1.5%

Shares of BAESY opened at $105.94 on Monday. Bae Systems PLC has a 1-year low of $56.19 and a 1-year high of $111.96. The firm has a 50-day simple moving average of $101.56 and a two-hundred day simple moving average of $98.63.

Analyst Ratings Changes

A number of equities analysts have commented on BAESY shares. The Goldman Sachs Group started coverage on shares of Bae Systems in a research note on Friday, September 19th. They set a "buy" rating on the stock. Kepler Capital Markets downgraded shares of Bae Systems from a "hold" rating to a "reduce" rating in a research note on Monday, July 7th. Jefferies Financial Group raised shares of Bae Systems from a "hold" rating to a "buy" rating in a research note on Friday, August 1st. Finally, Erste Group Bank started coverage on shares of Bae Systems in a research note on Friday, October 3rd. They set a "buy" rating on the stock. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bae Systems presently has a consensus rating of "Moderate Buy".

About Bae Systems

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.

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