Bae Systems (OTCMKTS:BAESY) Shares Gap Up – Time to Buy?

Bae Systems PLC (OTCMKTS:BAESY) shares gapped up prior to trading on Thursday . The stock had previously closed at $104.63, but opened at $109.90. Bae Systems shares last traded at $111.31, with a volume of 125,538 shares traded.

Wall Street Analyst Weigh In

A number of research firms have commented on BAESY. Erste Group Bank initiated coverage on Bae Systems in a research report on Friday, October 3rd. They set a “buy” rating on the stock. Sanford C. Bernstein downgraded Bae Systems from an “outperform” rating to a “market perform” rating in a research report on Tuesday. The Goldman Sachs Group started coverage on Bae Systems in a research note on Friday, September 19th. They set a “buy” rating on the stock. Finally, Kepler Capital Markets raised shares of Bae Systems from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Bae Systems currently has an average rating of “Moderate Buy”.

Bae Systems Stock Up 1.7%

The business has a fifty day moving average price of $93.32 and a 200 day moving average price of $98.59.

Institutional Investors Weigh In On Bae Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC boosted its holdings in Bae Systems by 3,150.0% in the 3rd quarter. Salomon & Ludwin LLC now owns 260 shares of the aerospace company’s stock worth $29,000 after acquiring an additional 252 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of Bae Systems by 73.0% in the third quarter. Hantz Financial Services Inc. now owns 327 shares of the aerospace company’s stock valued at $36,000 after purchasing an additional 138 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in Bae Systems during the 3rd quarter worth $44,000. First Horizon Advisors Inc. lifted its holdings in Bae Systems by 68.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,046 shares of the aerospace company’s stock worth $110,000 after buying an additional 426 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in Bae Systems by 25.6% in the 2nd quarter. GAMMA Investing LLC now owns 2,838 shares of the aerospace company’s stock valued at $298,000 after buying an additional 578 shares during the last quarter. Hedge funds and other institutional investors own 0.21% of the company’s stock.

About Bae Systems

BAE Systems plc is a global defense, security and aerospace company that designs, develops and manufactures a broad range of military and related products and services. Formed in 1999 through the combination of British Aerospace and Marconi Electronic Systems, the company supplies platforms, systems and support across air, land, maritime and cyber domains. Its portfolio spans combat and support aircraft systems, naval shipbuilding and subsystems, armored and land combat solutions, electronic and sensor systems, munitions, and intelligence, surveillance and cybersecurity capabilities.

BAE Systems serves government and military customers worldwide, with particularly large footprints in the United Kingdom and the United States as well as operations and sales across Europe, the Middle East, Australia and other markets.