BAE Systems plc (OTCMKTS:BAESY) Shares Sold by Meritage Portfolio Management

Meritage Portfolio Management reduced its position in shares of BAE Systems plc (OTCMKTS:BAESY) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,699 shares of the aerospace company’s stock after selling 3,043 shares during the period. Meritage Portfolio Management’s holdings in BAE Systems were worth $4,492,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BAESY. GAMMA Investing LLC lifted its holdings in shares of BAE Systems by 20.8% during the second quarter. GAMMA Investing LLC now owns 1,870 shares of the aerospace company’s stock valued at $125,000 after purchasing an additional 322 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in shares of BAE Systems by 68.9% in the 2nd quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock valued at $270,000 after acquiring an additional 1,650 shares in the last quarter. Rhumbline Advisers boosted its stake in BAE Systems by 29.3% in the 2nd quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock worth $307,000 after purchasing an additional 1,042 shares during the period. Finally, Confluence Investment Management LLC purchased a new position in BAE Systems during the 2nd quarter worth approximately $682,000. 0.21% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup upgraded BAE Systems from a “neutral” rating to a “buy” rating in a report on Monday, July 29th.

BAE Systems Stock Down 0.4 %

BAESY traded down $0.30 on Friday, hitting $71.66. The company had a trading volume of 391,173 shares, compared to its average volume of 122,069. The company’s fifty day moving average price is $68.05 and its 200 day moving average price is $68.22. BAE Systems plc has a 1-year low of $51.72 and a 1-year high of $72.81.

BAE Systems Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, December 9th. Investors of record on Friday, October 25th will be given a dividend of $0.6333 per share. The ex-dividend date of this dividend is Friday, October 25th.

BAE Systems Profile

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.