Sit Investment Associates Inc. Has $1.97 Million Stock Position in BAE Systems plc (OTCMKTS:BAESY)

Sit Investment Associates Inc. cut its holdings in shares of BAE Systems plc (OTCMKTS:BAESY) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,100 shares of the aerospace company’s stock after selling 325 shares during the period. Sit Investment Associates Inc.’s holdings in BAE Systems were worth $1,971,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Captrust Financial Advisors boosted its holdings in BAE Systems by 42.3% during the first quarter. Captrust Financial Advisors now owns 1,002 shares of the aerospace company’s stock worth $38,000 after buying an additional 298 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in BAE Systems by 16.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,633 shares of the aerospace company’s stock valued at $176,000 after acquiring an additional 642 shares during the period. Atlas Capital Advisors LLC bought a new stake in shares of BAE Systems in the second quarter worth about $177,000. SVB Wealth LLC acquired a new stake in shares of BAE Systems during the first quarter worth about $214,000. Finally, Principal Street Partners LLC bought a new position in shares of BAE Systems during the 4th quarter valued at about $450,000. Institutional investors own 0.34% of the company’s stock.

Analysts Set New Price Targets

BAESY has been the topic of several research reports. Barclays boosted their target price on BAE Systems from GBX 1,020 ($12.53) to GBX 1,250 ($15.35) in a research note on Tuesday, August 8th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of BAE Systems from GBX 1,090 ($13.39) to GBX 1,140 ($14.00) in a research note on Monday, August 7th. Berenberg Bank raised BAE Systems from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Kepler Capital Markets upgraded BAE Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Finally, JPMorgan Chase & Co. upped their price objective on BAE Systems from GBX 1,100 ($13.51) to GBX 1,150 ($14.12) in a research note on Thursday, August 3rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, BAE Systems currently has an average rating of “Moderate Buy” and an average price target of $1,142.00.

BAE Systems Stock Performance

BAESY stock opened at $53.93 on Thursday. BAE Systems plc has a 52 week low of $36.03 and a 52 week high of $55.46. The company’s 50-day simple moving average is $52.50 and its 200 day simple moving average is $50.58.

BAE Systems Cuts Dividend

The business also recently announced a dividend, which will be paid on Thursday, December 7th. Stockholders of record on Friday, October 20th will be given a dividend of $0.5533 per share. The ex-dividend date is Thursday, October 19th.

BAE Systems Profile

BAE Systems plc provides defense, aerospace, and security solutions worldwide. The company operates through five segments: Electronic Systems, Cyber & Intelligence, Platforms & Services (US), Air, and Maritime. 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 systems, space electronics, and electric drive propulsion systems.