BAE Systems (OTCMKTS:BAESY) Sets New 52-Week High on Analyst Upgrade

Posted by on May 4th, 2023

BAE Systems plc (OTCMKTS:BAESY – Get Rating) shares hit a new 52-week high on Wednesday after Berenberg Bank raised their price target on the stock from GBX 950 to GBX 1,000. The company traded as high as $52.35 and last traded at $52.20, with a volume of 1117418 shares trading hands. The stock had previously closed at $51.62.

Several other equities research analysts have also commented on the stock. UBS Group upgraded shares of BAE Systems from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 31st. Deutsche Bank Aktiengesellschaft raised their target price on shares of BAE Systems from GBX 1,000 ($12.49) to GBX 1,050 ($13.12) in a research note on Thursday, January 26th. Finally, Societe Generale upgraded shares of BAE Systems from a “hold” rating to a “buy” rating in a research report on Thursday, January 26th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,027.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Todd Asset Management LLC grew its stake in shares of BAE Systems by 570.9% in the fourth quarter. Todd Asset Management LLC now owns 228,956 shares of the aerospace company’s stock valued at $9,619,000 after acquiring an additional 194,827 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of BAE Systems during the 4th quarter worth approximately $4,383,000. Dorsey Wright & Associates acquired a new stake in shares of BAE Systems during the 4th quarter worth approximately $2,966,000. Meritage Portfolio Management grew its position in BAE Systems by 65.4% in the 4th quarter. Meritage Portfolio Management now owns 110,550 shares of the aerospace company’s stock valued at $4,659,000 after purchasing an additional 43,710 shares during the period. Finally, Thomas White International Ltd. grew its position in BAE Systems by 251.2% in the 4th quarter. Thomas White International Ltd. now owns 51,979 shares of the aerospace company’s stock valued at $2,141,000 after purchasing an additional 37,179 shares during the period. Institutional investors and hedge funds own 0.58% of the company’s stock.

BAE Systems Price Performance

The company has a debt-to-equity ratio of 0.46, a current ratio of 1.08 and a quick ratio of 0.98. The firm’s 50-day moving average is $48.55 and its 200-day moving average is $43.11.

BAE Systems Increases Dividend

The firm also recently announced a dividend, which will be paid on Thursday, June 8th. Stockholders of record on Friday, April 21st will be paid a dividend of $0.7716 per share. This represents a dividend yield of 2.41%. This is a boost from BAE Systems’s previous dividend of $0.47. The ex-dividend date is Thursday, April 20th.

About BAE Systems

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BAE Systems Plc engages in the provision of a full range of products and services for air, land, and naval forces; advanced electronics; security, information technology solutions; and support services. It operates through the following segments: Electronic Systems, Cyber and Intelligence, Platforms and Services (US), Air, Maritime, and Headquarters.

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