Bae Systems (OTCMKTS:BAESY) Shares Gap Down – What’s Next?

Bae Systems PLC (OTCMKTS:BAESY) shares gapped down prior to trading on Tuesday. The stock had previously closed at $102.56, but opened at $98.94. Bae Systems shares last traded at $98.96, with a volume of 15,596 shares traded.

Analysts Set New Price Targets

BAESY has been the subject of a number of analyst reports. Erste Group Bank cut Bae Systems from a “buy” rating to a “hold” rating in a research report on Thursday, June 25th. Kepler Capital Markets upgraded Bae Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, June 24th. Morgan Stanley reissued an “overweight” rating on shares of Bae Systems in a research note on Thursday, June 25th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Bae Systems in a research note on Tuesday, August 11th. Finally, Royal Bank Of Canada started coverage on shares of Bae Systems in a report on Tuesday, August 11th. They issued a “sector perform” rating for the company. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Bae Systems has an average rating of “Hold” and a consensus price target of $113.00.

Bae Systems Stock Down 3.9%

The company’s fifty day simple moving average is $110.84 and its 200-day simple moving average is $108.87.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. First Merchants Corp increased its stake in Bae Systems by 1.3% in the first quarter. First Merchants Corp now owns 68,422 shares of the aerospace company’s stock valued at $7,940,000 after purchasing an additional 854 shares during the last quarter. Sit Investment Associates Inc. grew its holdings in shares of Bae Systems by 2.6% during the fourth quarter. Sit Investment Associates Inc. now owns 35,476 shares of the aerospace company’s stock worth $3,295,000 after buying an additional 910 shares in the last quarter. Confluence Investment Management LLC raised its holdings in Bae Systems by 0.9% in the 3rd quarter. Confluence Investment Management LLC now owns 13,537 shares of the aerospace company’s stock valued at $1,403,000 after acquiring an additional 117 shares during the last quarter. Sterling Capital Management LLC acquired a new stake in Bae Systems in the 1st quarter worth about $1,146,000. Finally, Collaborative Fund Advisors LLC acquired a new stake in shares of Bae Systems during the 1st quarter worth $897,000. 0.21% of the stock is currently owned by institutional investors and hedge funds.

About Bae Systems

BAE Systems plc is a multinational defense, aerospace and security company headquartered in the United Kingdom. The company develops and supports technology and equipment for governments, armed forces and commercial customers, with activities spanning air, land, sea, space and cyber domains.

Its products and services include combat aircraft and aircraft support, naval vessels and submarines, armored vehicles, artillery systems, electronic warfare and radar equipment, intelligence and cybersecurity solutions, precision weapons, and command-and-control systems.