Zacks Investment Research upgraded shares of BAE SYS PLC/S (OTCMKTS:BAESY) from a hold rating to a buy rating in a research note released on Tuesday morning, Zacks.com reports. They currently have $30.00 price objective 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. “
Several other brokerages also recently weighed in on BAESY. Societe Generale reaffirmed a buy rating on shares of BAE SYS PLC/S in a report on Tuesday. JPMorgan Chase & Co. reaffirmed an overweight rating on shares of BAE SYS PLC/S in a report on Friday, July 31st. Deutsche Bank reaffirmed a buy rating on shares of BAE SYS PLC/S in a report on Thursday, July 2nd. Finally, UBS Group reiterated a neutral rating on shares of BAE SYS PLC/S in a research report on Monday, May 18th. 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 company. The company currently has an average rating of Buy and an average target price of $30.00.
The business also recently disclosed a Semi-Annual dividend, which will be paid on Monday, September 21st. Stockholders of record on Monday, August 10th will be given a dividend of $0.703 per share. The ex-dividend date is Friday, August 7th. BAE SYS PLC/S’s payout ratio is currently 69.12%.
Several institutional investors have recently added to or reduced their stakes in BAESY. Meritage Portfolio Management raised its position in shares of BAE SYS PLC/S by 64.1% during the second 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 last quarter. Parametric Portfolio Associates LLC increased its position in BAE SYS PLC/S by 3.2% in the first quarter. Parametric Portfolio Associates LLC now owns 886,796 shares of the aerospace company’s stock worth $22,658,000 after purchasing an additional 27,773 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in BAE SYS PLC/S in the second quarter worth $469,000. Cornerstone Investment Partners LLC bought a new stake in BAE SYS PLC/S in the second quarter worth $222,000. Finally, Logan Capital Management Inc. increased its position in BAE SYS PLC/S by 2.1% in the second quarter. Logan Capital Management Inc. now owns 49,857 shares of the aerospace company’s stock worth $1,191,000 after purchasing an additional 1,035 shares during the last quarter. Hedge funds and other institutional investors own 0.22% of the company’s stock.
About BAE SYS PLC/S
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: Resistance Level
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.