Confluence Investment Management LLC Takes $682,000 Position in BAE Systems plc (OTCMKTS:BAESY)

Confluence Investment Management LLC acquired a new stake in shares of BAE Systems plc (OTCMKTS:BAESY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,201 shares of the aerospace company’s stock, valued at approximately $682,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Group LLC bought a new stake in BAE Systems during the first quarter worth $7,239,000. Equitable Trust Co. grew its holdings in BAE Systems by 0.9% during the first quarter. Equitable Trust Co. now owns 57,841 shares of the aerospace company’s stock worth $3,944,000 after buying an additional 515 shares in the last quarter. AdvisorShares Investments LLC bought a new stake in BAE Systems during the fourth quarter worth $699,000. SVB Wealth LLC grew its stake in BAE Systems by 13.0% in the 4th quarter. SVB Wealth LLC now owns 4,733 shares of the aerospace company’s stock valued at $274,000 after purchasing an additional 546 shares during the period. Finally, GAMMA Investing LLC grew its stake in BAE Systems by 16.4% in the 1st quarter. GAMMA Investing LLC now owns 1,548 shares of the aerospace company’s stock valued at $107,000 after purchasing an additional 218 shares during the period. Institutional investors own 0.21% of the company’s stock.

BAE Systems Trading Up 0.9 %

Shares of BAE Systems stock traded up $0.56 during trading on Monday, hitting $66.19. 134,000 shares of the stock traded hands, compared to its average volume of 298,572. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.08 and a quick ratio of 0.97. The firm’s fifty day moving average is $67.74 and its 200-day moving average is $66.63. BAE Systems plc has a 52 week low of $47.81 and a 52 week high of $72.81.

Analysts Set New Price Targets

A number of research analysts have issued reports on BAESY shares. Bank of America downgraded BAE Systems from a “buy” rating to a “neutral” rating in a research note on Monday, May 13th. Citigroup upgraded BAE Systems from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, BAE Systems has a consensus rating of “Hold” and a consensus price target of $1,195.00.

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.