Bank of America restated their underperform rating on shares of BAE Systems (OTCMKTS:BAESY - Free Report) in a research note issued to investors on Friday, Marketbeat reports.
BAE Systems Trading Down 4.2 %
BAESY traded down $2.75 on Friday, hitting $62.44. 172,100 shares of the company were exchanged, compared to its average volume of 251,842. The firm has a 50-day moving average price of $67.37 and a two-hundred day moving average price of $68.00. BAE Systems has a twelve month low of $51.72 and a twelve month high of $72.81.
BAE Systems Cuts Dividend
The firm also recently disclosed a dividend, which will be paid on Monday, December 9th. Stockholders of record on Friday, October 25th will be given a dividend of $0.6333 per share. The ex-dividend date of this dividend is Friday, October 25th.
Hedge Funds Weigh In On BAE Systems
Hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC acquired a new stake in shares of BAE Systems during the second quarter worth about $682,000. GAMMA Investing LLC increased its position in BAE Systems by 20.8% during the second quarter. GAMMA Investing LLC now owns 1,870 shares of the aerospace company's stock worth $125,000 after buying an additional 322 shares during the period. Atlas Capital Advisors LLC lifted its stake in BAE Systems by 68.9% in the second quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company's stock valued at $270,000 after buying an additional 1,650 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of BAE Systems by 29.3% in the second quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company's stock valued at $307,000 after acquiring an additional 1,042 shares during the period. Finally, Altrius Capital Management Inc grew its position in shares of BAE Systems by 2.3% during the third quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company's stock worth $7,266,000 after acquiring an additional 2,470 shares during the last quarter. 0.21% of the stock is currently owned by hedge funds and other institutional investors.
About BAE Systems
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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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