Corient IA LLC Purchases Shares of 10,000 Bae Systems PLC $BAESY

Key Points

• Corient IA LLC purchased a new stake in Bae Systems PLC, acquiring 10,000 shares valued at approximately $805,000.
• Multiple institutional investors have increased their holdings in Bae Systems, with First Horizon Advisors Inc. boosting their stake by 49.4%.
• Analysts have mixed opinions on Bae Systems, with one upgrade to "buy" from Jefferies Financial Group and a downgrade to "reduce" from Kepler Capital Markets.

Corient IA LLC bought a new stake in Bae Systems PLC (OTCMKTS:BAESY - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,000 shares of the aerospace company's stock, valued at approximately $805,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Bae Systems by 10,259.0% in the first quarter. GAMMA Investing LLC now owns 185,840 shares of the aerospace company's stock valued at $15,282,000 after buying an additional 184,046 shares in the last quarter. First Merchants Corp purchased a new position in Bae Systems in the first quarter valued at about $4,598,000. L & S Advisors Inc purchased a new position in Bae Systems in the first quarter valued at about $1,078,000. Confluence Investment Management LLC increased its holdings in Bae Systems by 19.3% in the first quarter. Confluence Investment Management LLC now owns 10,986 shares of the aerospace company's stock valued at $903,000 after buying an additional 1,777 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Bae Systems by 19.6% during the 1st quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company's stock worth $451,000 after purchasing an additional 897 shares in the last quarter. 0.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BAESY. Jefferies Financial Group raised shares of Bae Systems from a "hold" rating to a "buy" rating in a research note on Friday, August 1st. Kepler Capital Markets cut shares of Bae Systems from a "hold" rating to a "reduce" rating in a research note on Monday, July 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Bae Systems in a research note on Monday, April 28th. Finally, Bank of America raised shares of Bae Systems from an "underperform" rating to a "buy" rating in a research note on Tuesday, June 10th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Bae Systems has a consensus rating of "Hold".

Bae Systems Price Performance

OTCMKTS BAESY traded up $0.89 during mid-day trading on Thursday, reaching $94.71. 388,763 shares of the stock were exchanged, compared to its average volume of 477,658. Bae Systems PLC has a 1-year low of $56.19 and a 1-year high of $109.82. The business's fifty day simple moving average is $100.55 and its 200 day simple moving average is $90.80. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.65.

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.