RNC Capital Management LLC Decreases Stock Holdings in Bae Systems PLC $BAESY

RNC Capital Management LLC trimmed its holdings in Bae Systems PLC (OTCMKTS:BAESY) by 39.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,008 shares of the aerospace company’s stock after selling 3,295 shares during the quarter. RNC Capital Management LLC’s holdings in Bae Systems were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Ramirez Asset Management Inc. lifted its stake in Bae Systems by 2.9% in the 2nd quarter. Ramirez Asset Management Inc. now owns 68,509 shares of the aerospace company’s stock worth $7,084,000 after purchasing an additional 1,954 shares in the last quarter. First Merchants Corp increased its holdings in shares of Bae Systems by 9.0% during the 2nd quarter. First Merchants Corp now owns 62,252 shares of the aerospace company’s stock worth $6,437,000 after buying an additional 5,144 shares during the last quarter. L & S Advisors Inc acquired a new stake in shares of Bae Systems during the 1st quarter worth approximately $1,078,000. Confluence Investment Management LLC increased its holdings in shares of Bae Systems by 3.9% during the 2nd quarter. Confluence Investment Management LLC now owns 11,413 shares of the aerospace company’s stock worth $1,199,000 after buying an additional 427 shares during the last quarter. Finally, Corient IA LLC acquired a new stake in shares of Bae Systems during the 1st quarter worth approximately $805,000. 0.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BAESY. Kepler Capital Markets downgraded shares of Bae Systems from a “hold” rating to a “reduce” rating in a report on Monday, July 7th. Erste Group Bank began coverage on shares of Bae Systems in a report on Friday, October 3rd. They set a “buy” rating for the company. Jefferies Financial Group upgraded shares of Bae Systems from a “hold” rating to a “buy” rating in a report on Friday, August 1st. Finally, The Goldman Sachs Group began coverage on shares of Bae Systems in a report on Friday, September 19th. They issued a “buy” rating for the company. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bae Systems currently has an average rating of “Moderate Buy”.

Bae Systems Stock Performance

OTCMKTS:BAESY opened at $101.39 on Thursday. The company has a fifty day simple moving average of $102.49 and a two-hundred day simple moving average of $99.46. Bae Systems PLC has a 52 week low of $56.19 and a 52 week high of $111.96.

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.