First Merchants Corp Boosts Position in Bae Systems PLC $BAESY

Key Points

• First Merchants Corp has increased its stake in Bae Systems PLC by 9%, now holding 62,252 shares valued at approximately $6.4 million.
• Several other institutional investors have also significantly adjusted their positions, with First Horizon Advisors and Atlas Capital Advisors increasing their stakes by 49.4% and 116.9%, respectively.
• Research analysts have mostly rated Bae Systems favorably, with five rating it as a "Buy," contributing to an average rating of "Moderate Buy" for the stock.

First Merchants Corp increased its stake in Bae Systems PLC (OTCMKTS:BAESY - Free Report) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,252 shares of the aerospace company's stock after buying an additional 5,144 shares during the period. First Merchants Corp's holdings in Bae Systems were worth $6,437,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in Bae Systems by 49.4% in the 1st quarter. First Horizon Advisors Inc. now owns 620 shares of the aerospace company's stock worth $51,000 after buying an additional 205 shares during the period. Atlas Capital Advisors Inc. increased its stake in Bae Systems by 116.9% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,900 shares of the aerospace company's stock worth $156,000 after buying an additional 1,024 shares during the period. HighPoint Advisor Group LLC purchased a new position in Bae Systems in the 1st quarter worth about $185,000. GAMMA Investing LLC increased its stake in Bae Systems by 26.0% in the 1st quarter. GAMMA Investing LLC now owns 2,260 shares of the aerospace company's stock worth $186,000 after buying an additional 466 shares during the period. Finally, Rhumbline Advisers increased its stake in Bae Systems by 19.6% in the 1st quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company's stock worth $451,000 after buying an additional 897 shares during the period. Hedge funds and other institutional investors own 0.21% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group raised shares of Bae Systems from a "hold" rating to a "buy" rating in a research report on Friday, August 1st. Erste Group Bank assumed coverage on shares of Bae Systems in a research report on Friday, October 3rd. They set a "buy" rating on the stock. The Goldman Sachs Group assumed coverage on shares of Bae Systems in a research report on Friday, September 19th. They set a "buy" rating on the stock. Finally, Kepler Capital Markets downgraded shares of Bae Systems from a "hold" rating to a "reduce" rating in a research report on Monday, July 7th. 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 data from MarketBeat.com, Bae Systems presently has an average rating of "Moderate Buy".

Bae Systems Stock Performance

OTCMKTS:BAESY opened at $109.37 on Thursday. Bae Systems PLC has a fifty-two week low of $56.19 and a fifty-two week high of $111.96. The company's 50-day simple moving average is $101.16 and its 200-day simple moving average is $98.08.

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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