Bae Systems PLC $BAESY Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC trimmed its position in Bae Systems PLC (OTCMKTS:BAESY) by 39.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,008 shares of the aerospace company’s stock after selling 3,295 shares during the period. RNC Capital Management LLC’s holdings in Bae Systems were worth $526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in BAESY. First Horizon Advisors Inc. increased its position in shares of Bae Systems by 49.4% in the 1st quarter. First Horizon Advisors Inc. now owns 620 shares of the aerospace company’s stock valued at $51,000 after acquiring an additional 205 shares during the period. Atlas Capital Advisors Inc. increased its position in shares of Bae Systems by 116.9% in the 1st quarter. Atlas Capital Advisors Inc. now owns 1,900 shares of the aerospace company’s stock valued at $156,000 after acquiring an additional 1,024 shares during the period. HighPoint Advisor Group LLC acquired a new position in shares of Bae Systems in the 1st quarter valued at $185,000. GAMMA Investing LLC grew its position in Bae Systems by 26.0% during the 1st quarter. GAMMA Investing LLC now owns 2,260 shares of the aerospace company’s stock worth $186,000 after purchasing an additional 466 shares during the period. Finally, Rhumbline Advisers grew its position in Bae Systems by 19.6% during the 1st quarter. Rhumbline Advisers now owns 5,485 shares of the aerospace company’s stock worth $451,000 after purchasing an additional 897 shares during the period. 0.21% of the stock is owned by institutional investors and hedge funds.

Bae Systems Price Performance

BAESY stock opened at $101.39 on Thursday. Bae Systems PLC has a 52-week low of $56.19 and a 52-week high of $111.96. The company’s 50-day simple moving average is $102.49 and its 200-day simple moving average is $99.46.

Wall Street Analysts Forecast Growth

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

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.