Sit Investment Associates Inc. Decreases Stake in Bae Systems PLC (OTCMKTS:BAESY)

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. cut its holdings in Bae Systems PLC (OTCMKTS:BAESY - Free Report) by 36.8% during the first quarter, according to the company in its most recent Form 13F filing 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 quarter. Sit Investment Associates Inc.'s holdings in Bae Systems were worth $2,879,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in Bae Systems by 10,259.0% during the first quarter. GAMMA Investing LLC now owns 185,840 shares of the aerospace company's stock worth $15,282,000 after purchasing an additional 184,046 shares in the last quarter. First Merchants Corp purchased a new stake in Bae Systems during the first quarter worth $4,598,000. L & S Advisors Inc purchased a new stake in Bae Systems during the first quarter worth $1,078,000. Confluence Investment Management LLC boosted its position in Bae Systems by 19.3% during the first quarter. Confluence Investment Management LLC now owns 10,986 shares of the aerospace company's stock worth $903,000 after purchasing an additional 1,777 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in Bae Systems by 19.6% during the first 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 currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BAESY shares. Jefferies Financial Group upgraded Bae Systems from a "hold" rating to a "buy" rating in a research report on Friday, August 1st. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of Bae Systems in a research report on Monday, April 28th. Kepler Capital Markets downgraded Bae Systems from a "hold" rating to a "reduce" rating in a research report on Monday, July 7th. Finally, Bank of America upgraded Bae Systems from an "underperform" rating to a "buy" rating in a research report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold".

Bae Systems Stock Down 0.9%

Bae Systems stock opened at $96.26 on Friday. The stock has a fifty day moving average price of $100.95 and a 200 day moving average price of $90.08. Bae Systems PLC has a 52 week low of $56.19 and a 52 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.

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.

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