Bae Systems PLC $BAESY Shares Sold by Sit Investment Associates Inc.

Key Points

• Sit Investment Associates Inc. decreased its stake in Bae Systems PLC by 36.8%, resulting in ownership of 35,012 shares after selling 20,378 shares in the first quarter, valued at approximately $2.88 million.
• Other institutional investors have altered their positions, with GAMMA Investing LLC significantly increasing its stake by 10,259.0% to own 185,840 shares.
• Analyst ratings for Bae Systems are mixed, with one sell rating, one hold rating, and three buy ratings; the stock has a consensus rating of "Hold".

Sit Investment Associates Inc. trimmed its position in Bae Systems PLC (OTCMKTS:BAESY - Free Report) by 36.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,012 shares of the aerospace company's stock after selling 20,378 shares during the period. Sit Investment Associates Inc.'s holdings in Bae Systems were worth $2,879,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Horizon Advisors Inc. raised its holdings in Bae Systems by 49.4% in the 1st quarter. First Horizon Advisors Inc. now owns 620 shares of the aerospace company's stock valued at $51,000 after acquiring an additional 205 shares during the period. Atlas Capital Advisors Inc. lifted its holdings in Bae Systems by 116.9% during 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 bought a new stake in shares of Bae Systems in the 1st quarter valued at about $185,000. GAMMA Investing LLC boosted its stake in shares of 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 purchasing an additional 466 shares during the last quarter. Finally, Rhumbline Advisers boosted its position 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 purchasing an additional 897 shares in the last quarter. 0.21% of the stock is owned by institutional investors.

Bae Systems Stock Performance

Shares of OTCMKTS BAESY traded up $0.92 during mid-day trading on Thursday, hitting $94.74. 300,146 shares of the company's stock traded hands, compared to its average volume of 476,990. Bae Systems PLC has a 1 year low of $56.19 and a 1 year high of $109.82. The company has a quick ratio of 0.85, a current ratio of 0.95 and a debt-to-equity ratio of 0.65. The company's 50-day moving average is $100.55 and its two-hundred day moving average is $90.80.

Wall Street Analysts Forecast Growth

BAESY has been the subject of a number of recent analyst reports. Kepler Capital Markets downgraded Bae Systems from a "hold" rating to a "reduce" rating in a research note on Monday, July 7th. Bank of America upgraded shares of Bae Systems from an "underperform" rating to a "buy" rating in a research report on Tuesday, June 10th. Jefferies Financial Group upgraded Bae Systems from a "hold" rating to a "buy" rating in a report on Friday, August 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Bae Systems in a research note on Monday, April 28th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Bae Systems has a consensus rating of "Hold".

Bae Systems 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.