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

BAE Systems plc (OTCMKTS:BAESY)’s share price hit 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.

Wall Street Analyst Weigh In

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

BAE Systems Price Performance

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.91 and a current ratio of 1.03. The business’s 50 day simple moving average is $63.84 and its two-hundred day simple moving average is $65.47.

Hedge Funds Weigh In On BAE Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new stake in shares of BAE Systems during the fourth quarter valued at approximately $26,000. Principal Street Partners LLC boosted its stake in BAE Systems by 99.0% during the third quarter. Principal Street Partners LLC now owns 17,628 shares of the aerospace company’s stock worth $1,178,000 after buying an additional 8,769 shares during the period. Sit Investment Associates Inc. boosted its stake in BAE Systems by 4.3% during the fourth quarter. Sit Investment Associates Inc. now owns 55,390 shares of the aerospace company’s stock worth $3,166,000 after buying an additional 2,285 shares during the period. Dorsey Wright & Associates boosted its stake in shares of BAE Systems by 11.7% during the third quarter. Dorsey Wright & Associates now owns 56,856 shares of the aerospace company’s stock valued at $3,775,000 after purchasing an additional 5,936 shares during the period. Finally, Ramirez Asset Management Inc. boosted its stake in shares of BAE Systems by 3.4% during 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.