BAE Systems plc (OTCMKTS:BAESY) Sees Large Decrease in Short Interest

BAE Systems plc (OTCMKTS:BAESY - Get Free Report) was the recipient of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 7,600 shares, a drop of 9.5% from the October 15th total of 8,400 shares. Based on an average daily volume of 226,300 shares, the short-interest ratio is currently 0.0 days.

Institutional Trading of BAE Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC bought a new position in shares of BAE Systems during the 2nd quarter worth about $682,000. Rhumbline Advisers raised its holdings in BAE Systems by 29.3% in the 2nd 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 in the last quarter. Atlas Capital Advisors LLC lifted its position in shares of BAE Systems by 68.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company's stock worth $270,000 after acquiring an additional 1,650 shares during the period. GAMMA Investing LLC grew its holdings in shares of BAE Systems by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,870 shares of the aerospace company's stock worth $125,000 after purchasing an additional 322 shares in the last quarter. Finally, Altrius Capital Management Inc raised its stake in shares of BAE Systems by 2.3% in the third quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company's stock valued at $7,266,000 after purchasing an additional 2,470 shares in the last quarter. Institutional investors and hedge funds own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Separately, Citigroup raised BAE Systems from a "neutral" rating to a "buy" rating in a research report on Monday, July 29th.

BAE Systems Trading Down 2.5 %

BAESY stock traded down $1.66 during midday trading on Friday, hitting $64.92. 121,149 shares of the company traded hands, compared to its average volume of 138,360. BAE Systems has a twelve month low of $51.72 and a twelve month high of $72.81. The business has a 50 day simple moving average of $67.98 and a 200-day simple moving average of $68.24.

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 paid a $0.6333 dividend. The ex-dividend date is Friday, October 25th.

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.