Zacks Investment Research upgraded shares of BAE SYS PLC/S (OTCMKTS:BAESY) from a hold rating to a buy rating in a report issued on Tuesday morning, Zacks.com reports. The brokerage currently has $30.00 target price on the aerospace company’s stock.
According to Zacks, “BAE Systems is a global company engaged in the development, delivery and support of advanced defence and aerospace systems in the air, on land and at sea. BAE Systems Inc. is the US subsidiary of BAE Systems plc. Headquartered in Rockville,Maryland, BAE Systems Inc. consists of three Operating Groups that provide support and service solutions for current and future defense, intelligence, and civilian systems; design, develop and manufacture a wide range of electronic systems and subsystems for both military and commercial applications; and design, develop, produce,and provide service support of armored combat vehicles, artillery systems and intelligent munitions. “
Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of BAE SYS PLC/S in a research note on Friday, July 31st. Deutsche Bank reaffirmed a buy rating on shares of BAE SYS PLC/S in a research note on Thursday, July 2nd. UBS Group reaffirmed a neutral rating on shares of BAE SYS PLC/S in a research note on Monday, May 18th. Finally, Societe Generale reaffirmed a buy rating on shares of BAE SYS PLC/S in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $30.00.
Shares of OTCMKTS:BAESY opened at $27.46 on Tuesday. The company’s fifty day moving average price is $27.24 and its 200-day moving average price is $25.91. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 13.46, a PEG ratio of 11.95 and a beta of 0.89. BAE SYS PLC/S has a one year low of $19.89 and a one year high of $34.74. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.01 and a quick ratio of 0.92.
The company also recently declared a Semi-Annual dividend, which will be paid on Monday, September 21st. Shareholders of record on Monday, August 10th will be given a dividend of $0.703 per share. The ex-dividend date of this dividend is Friday, August 7th. BAE SYS PLC/S’s payout ratio is currently 69.12%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in BAE SYS PLC/S by 3.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 886,796 shares of the aerospace company’s stock valued at $22,658,000 after buying an additional 27,773 shares during the period. Meritage Portfolio Management boosted its position in BAE SYS PLC/S by 64.1% during the 2nd quarter. Meritage Portfolio Management now owns 121,289 shares of the aerospace company’s stock valued at $2,911,000 after buying an additional 47,389 shares during the period. Logan Capital Management Inc. boosted its position in BAE SYS PLC/S by 2.1% during the 2nd quarter. Logan Capital Management Inc. now owns 49,857 shares of the aerospace company’s stock valued at $1,191,000 after buying an additional 1,035 shares during the period. Silvercrest Asset Management Group LLC purchased a new stake in BAE SYS PLC/S during the 2nd quarter valued at $469,000. Finally, Cornerstone Investment Partners LLC purchased a new stake in BAE SYS PLC/S during the 2nd quarter valued at $222,000. 0.22% of the stock is owned by institutional investors and hedge funds.
BAE SYS PLC/S Company Profile
BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, and Maritime. The Electronic Systems segment offers electronic warfare systems and electro-optical sensors, military and commercial digital engine and flight controls, precision guidance and seeker solutions, military communication systems and data links, persistent surveillance systems, and hybrid electric drive systems.
Recommended Story: Put Option Volume
Get a free copy of the Zacks research report on BAE SYS PLC/S (BAESY)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for BAE SYS PLC/S Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BAE SYS PLC/S and related companies with MarketBeat.com's FREE daily email newsletter.