Meritage Portfolio Management Sells 18,517 Shares of Bae Systems PLC (OTCMKTS:BAESY)

Meritage Portfolio Management decreased its holdings in shares of Bae Systems PLC (OTCMKTS:BAESY - Free Report) by 29.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,590 shares of the aerospace company's stock after selling 18,517 shares during the period. Meritage Portfolio Management's holdings in Bae Systems were worth $3,667,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in BAESY. First Horizon Advisors Inc. grew its position in shares of 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 acquiring an additional 205 shares during the last quarter. GAMMA Investing LLC grew its position in Bae Systems by 26.0% in 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 in the last quarter. Rhumbline Advisers grew its position in Bae Systems by 19.6% in 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 in the last quarter. Confluence Investment Management LLC lifted its holdings in Bae Systems by 19.3% in the 1st quarter. Confluence Investment Management LLC now owns 10,986 shares of the aerospace company's stock valued at $903,000 after acquiring an additional 1,777 shares during the last quarter. Finally, Sit Investment Associates Inc. lifted its holdings in Bae Systems by 4.3% in the 4th quarter. Sit Investment Associates Inc. now owns 55,390 shares of the aerospace company's stock valued at $3,166,000 after acquiring an additional 2,285 shares during the last quarter. Institutional investors own 0.21% of the company's stock.

Bae Systems Stock Up 1.2%

OTCMKTS:BAESY traded up $1.27 during mid-day trading on Friday, reaching $103.50. The stock had a trading volume of 130,567 shares, compared to its average volume of 316,807. The business's 50 day moving average is $100.12 and its 200 day moving average is $82.04. Bae Systems PLC has a fifty-two week low of $56.19 and a fifty-two week 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.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America raised shares of Bae Systems from an "underperform" rating to a "buy" rating in a research note on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Bae Systems in a research note on Monday, April 28th. Finally, Berenberg Bank downgraded Bae Systems from a "strong-buy" rating to a "hold" rating in a report 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.