Beach Investment Counsel Inc. PA Sells 3,688 Shares of BAE Systems plc (OTCMKTS:BAESY)

Beach Investment Counsel Inc. PA cut its position in shares of BAE Systems plc (OTCMKTS:BAESY - Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,678 shares of the aerospace company's stock after selling 3,688 shares during the quarter. BAE Systems accounts for about 1.2% of Beach Investment Counsel Inc. PA's portfolio, making the stock its 25th biggest holding. Beach Investment Counsel Inc. PA's holdings in BAE Systems were worth $8,114,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in shares of BAE Systems by 10,259.0% during the 1st quarter. GAMMA Investing LLC now owns 185,840 shares of the aerospace company's stock worth $15,282,000 after purchasing an additional 184,046 shares in the last quarter. Altrius Capital Management Inc raised its stake in shares of BAE Systems by 3.3% during the 4th quarter. Altrius Capital Management Inc now owns 113,168 shares of the aerospace company's stock worth $6,469,000 after purchasing an additional 3,662 shares in the last quarter. Ramirez Asset Management Inc. raised its stake in shares of BAE Systems by 3.4% during the 4th quarter. Ramirez Asset Management Inc. now owns 67,760 shares of the aerospace company's stock worth $3,899,000 after purchasing an additional 2,211 shares in the last quarter. Sit Investment Associates Inc. raised its stake in shares of BAE Systems by 4.3% during the 4th quarter. Sit Investment Associates Inc. now owns 55,390 shares of the aerospace company's stock worth $3,166,000 after purchasing an additional 2,285 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in shares of BAE Systems by 19.3% during the 1st quarter. Confluence Investment Management LLC now owns 10,986 shares of the aerospace company's stock worth $903,000 after purchasing an additional 1,777 shares in the last quarter. 0.21% of the stock is currently owned by institutional investors.

BAE Systems Trading Down 3.1%

BAESY opened at $105.55 on Friday. BAE Systems plc has a 1-year low of $56.19 and a 1-year high of $109.82. The stock's fifty day simple moving average is $93.80 and its 200 day simple moving average is $76.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.91 and a current ratio of 1.03.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BAESY. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of BAE Systems in a research note on Monday, April 28th. Berenberg Bank cut BAE Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 10th.

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.

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