BAE Systems (OTCMKTS:BAESY) Downgraded by Berenberg Bank to Hold

Berenberg Bank cut shares of BAE Systems (OTCMKTS:BAESY) from a strong-buy rating to a hold rating in a research note released on Monday morning,Zacks.com reports.

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

BAE Systems Stock Performance

Shares of OTCMKTS BAESY opened at $81.85 on Monday. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 0.72. The firm’s 50-day moving average price is $64.84 and its 200-day moving average price is $65.61. BAE Systems has a 1-year low of $56.19 and a 1-year high of $87.44.

Hedge Funds Weigh In On BAE Systems

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Altrius Capital Management Inc lifted its holdings in BAE Systems by 2.3% during the third quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company’s stock worth $7,266,000 after acquiring an additional 2,470 shares during the period. Principal Street Partners LLC raised its stake in shares of BAE Systems by 99.0% in the third quarter. Principal Street Partners LLC now owns 17,628 shares of the aerospace company’s stock valued at $1,178,000 after buying an additional 8,769 shares during the period. Dorsey Wright & Associates boosted its position in BAE Systems by 11.7% during the third quarter. Dorsey Wright & Associates now owns 56,856 shares of the aerospace company’s stock worth $3,775,000 after purchasing an additional 5,936 shares during the period. Nisa Investment Advisors LLC purchased a new position in shares of BAE Systems in the fourth quarter worth about $26,000. Finally, Ramirez Asset Management Inc. raised its position in shares of BAE Systems by 3.4% in the fourth quarter. Ramirez Asset Management Inc. now owns 67,760 shares of the aerospace company’s stock valued at $3,899,000 after purchasing an additional 2,211 shares during the period. Hedge funds and other 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.