BAE Systems (OTCMKTS:BAESY) Reaches New 52-Week High – Still a Buy?

BAE Systems plc (OTCMKTS:BAESY) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $87.44 and last traded at $86.65, with a volume of 3226217 shares changing hands. The stock had previously closed at $84.70.

Analysts Set New Price Targets

Separately, Bank of America reissued an “underperform” rating on shares of BAE Systems in a report on Friday, November 29th.

BAE Systems Stock Down 2.5 %

The stock’s fifty day moving average price is $63.84 and its two-hundred day moving average price is $65.47. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 0.72.

Hedge Funds Weigh In On BAE Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in BAESY. Principal Street Partners LLC increased its position in BAE Systems by 99.0% in the 3rd quarter. Principal Street Partners LLC now owns 17,628 shares of the aerospace company’s stock valued at $1,178,000 after acquiring an additional 8,769 shares during the period. Altrius Capital Management Inc grew its holdings in shares of BAE Systems by 3.3% during the fourth quarter. Altrius Capital Management Inc now owns 113,168 shares of the aerospace company’s stock valued at $6,469,000 after buying an additional 3,662 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in BAE Systems during the fourth quarter worth about $26,000. Dorsey Wright & Associates boosted its stake in BAE Systems by 11.7% in the third quarter. Dorsey Wright & Associates now owns 56,856 shares of the aerospace company’s stock valued at $3,775,000 after acquiring an additional 5,936 shares during the last quarter. Finally, Sit Investment Associates Inc. raised its position in shares of BAE Systems by 4.3% in the fourth quarter. Sit Investment Associates Inc. now owns 55,390 shares of the aerospace company’s stock valued at $3,166,000 after purchasing an additional 2,285 shares during the period. Institutional investors own 0.21% of the company’s stock.

About BAE Systems

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.