Bae Systems (OTCMKTS:BAESY) Coverage Initiated by Analysts at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has initiated coverage on Bae Systems, assigning a "buy" rating to its stock.
• Additional analysts have also recently upgraded their ratings on Bae Systems, contributing to a current consensus rating of "Moderate Buy."
• Institutional investors have shown strong interest, with significant increases in holdings, particularly from Confluence Investment Management and GAMMA Investing LLC.

The Goldman Sachs Group assumed coverage on shares of Bae Systems (OTCMKTS:BAESY - Free Report) in a research report sent to investors on Friday, MarketBeat reports. The firm issued a buy rating on the aerospace company's stock.

A number of other research analysts have also commented on BAESY. Jefferies Financial Group upgraded shares of Bae Systems from a "hold" rating to a "buy" rating in a research note on Friday, August 1st. Kepler Capital Markets cut Bae Systems from a "hold" rating to a "reduce" rating in a report on Monday, July 7th. Finally, Bank of America raised Bae Systems from an "underperform" rating to a "buy" rating in a report on Tuesday, June 10th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Bae Systems presently has an average rating of "Moderate Buy".

Bae Systems Trading Down 0.8%

Bae Systems stock traded down $0.88 during mid-day trading on Friday, hitting $105.59. 942,426 shares of the company's stock traded hands, compared to its average volume of 476,969. The firm has a 50 day simple moving average of $99.08 and a two-hundred day simple moving average of $96.26. Bae Systems has a fifty-two week low of $56.19 and a fifty-two week high of $111.71. The company has a current ratio of 0.95, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.

Institutional Investors Weigh In On Bae Systems

Several hedge funds have recently added to or reduced their stakes in BAESY. Rhumbline Advisers grew its position in shares of Bae Systems by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 5,643 shares of the aerospace company's stock valued at $593,000 after buying an additional 158 shares during the last quarter. RNC Capital Management LLC raised its position in Bae Systems by 2.1% in the 1st quarter. RNC Capital Management LLC now owns 8,303 shares of the aerospace company's stock valued at $683,000 after buying an additional 168 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in 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 purchasing an additional 205 shares during the last quarter. Confluence Investment Management LLC lifted its position in shares of Bae Systems by 3.9% during the 2nd quarter. Confluence Investment Management LLC now owns 11,413 shares of the aerospace company's stock worth $1,199,000 after buying an additional 427 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Bae Systems by 26.0% during the first quarter. GAMMA Investing LLC now owns 2,260 shares of the aerospace company's stock valued at $186,000 after acquiring an additional 466 shares during the last quarter. 0.21% of the stock is currently owned by institutional investors and hedge funds.

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.