First Merchants Corp Takes $4.60 Million Position in Bae Systems PLC (OTCMKTS:BAESY)

First Merchants Corp bought a new stake in shares of Bae Systems PLC (OTCMKTS:BAESY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 57,108 shares of the aerospace company's stock, valued at approximately $4,598,000.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Bae Systems by 26.0% during the 1st quarter. GAMMA Investing LLC now owns 2,260 shares of the aerospace company's stock valued at $186,000 after buying an additional 466 shares during the period. Rhumbline Advisers lifted its holdings 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 valued at $451,000 after buying an additional 897 shares during the period. Confluence Investment Management LLC lifted its holdings 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 valued at $903,000 after buying an additional 1,777 shares during the period. Sit Investment Associates Inc. lifted its holdings 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 valued at $3,166,000 after buying an additional 2,285 shares during the period. Finally, Ramirez Asset Management Inc. lifted its holdings 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 valued at $3,899,000 after buying an additional 2,211 shares during the period. 0.21% of the stock is currently owned by hedge funds and other institutional investors.

Bae Systems Price Performance

BAESY stock traded up $1.99 during trading on Monday, reaching $105.07. The company's stock had a trading volume of 291,780 shares, compared to its average volume of 393,179. Bae Systems PLC has a 1 year low of $56.19 and a 1 year high of $109.82. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The company's fifty day moving average is $99.18 and its 200-day moving average is $80.80.

Wall Street Analyst Weigh In

BAESY has been the topic of several research analyst reports. Bank of America raised Bae Systems from an "underperform" rating to a "buy" rating in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Bae Systems in a report on Monday, April 28th. Finally, Berenberg Bank lowered Bae Systems from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 10th.

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.