Short Interest in BAE Systems plc (OTCMKTS:BAESY) Drops By 5.7%

BAE Systems plc (OTCMKTS:BAESY - Get Free Report) saw a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 1,492,500 shares, a decline of 5.7% from the February 29th total of 1,583,400 shares. Based on an average trading volume of 244,300 shares, the short-interest ratio is presently 6.1 days.

BAE Systems Price Performance

Shares of OTCMKTS:BAESY traded down $0.15 during mid-day trading on Monday, reaching $69.20. 72,486 shares of the company's stock were exchanged, compared to its average volume of 264,282. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 0.97. BAE Systems has a twelve month low of $46.19 and a twelve month high of $70.49. The business's fifty day moving average price is $64.40 and its 200-day moving average price is $57.89.

BAE Systems Increases Dividend

The company also recently declared a dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, April 19th will be given a dividend of $0.9029 per share. The ex-dividend date is Thursday, April 18th. This is a boost from BAE Systems's previous dividend of $0.55.

Hedge Funds Weigh In On BAE Systems

Several institutional investors have recently added to or reduced their stakes in the business. Ramirez Asset Management Inc. purchased a new stake in shares of BAE Systems during the third quarter valued at approximately $2,710,000. Pacer Advisors Inc. purchased a new position in shares of BAE Systems in the 4th quarter worth about $18,702,000. Beach Investment Counsel Inc. PA grew its position in BAE Systems by 2.8% during the third quarter. Beach Investment Counsel Inc. PA now owns 214,001 shares of the aerospace company's stock valued at $10,582,000 after buying an additional 5,741 shares during the period. Equitable Trust Co. increased its holdings in BAE Systems by 20.9% during the third quarter. Equitable Trust Co. now owns 52,940 shares of the aerospace company's stock worth $2,579,000 after buying an additional 9,135 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in BAE Systems in the third quarter worth about $207,000. 0.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas downgraded BAE Systems from a "neutral" rating to an "underperform" rating in a report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, BAE Systems currently has an average rating of "Hold" and an average price target of $1,142.00.

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.