Short Interest in BAE Systems plc (OTCMKTS:BAESY) Drops By 9.5%

BAE Systems plc (OTCMKTS:BAESY) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 7,600 shares, a decline of 9.5% from the October 15th total of 8,400 shares. Based on an average daily volume of 226,300 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BAESY. Confluence Investment Management LLC purchased a new position in shares of BAE Systems in the 2nd quarter worth approximately $682,000. GAMMA Investing LLC grew its position in BAE Systems by 20.8% during the 2nd quarter. GAMMA Investing LLC now owns 1,870 shares of the aerospace company’s stock worth $125,000 after purchasing an additional 322 shares during the last quarter. Atlas Capital Advisors LLC grew its position in BAE Systems by 68.9% during the 2nd quarter. Atlas Capital Advisors LLC now owns 4,044 shares of the aerospace company’s stock worth $270,000 after purchasing an additional 1,650 shares during the last quarter. Rhumbline Advisers grew its position in BAE Systems by 29.3% during 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 last quarter. Finally, Altrius Capital Management Inc grew its position in BAE Systems by 2.3% during the 3rd quarter. Altrius Capital Management Inc now owns 109,506 shares of the aerospace company’s stock worth $7,266,000 after purchasing an additional 2,470 shares during the last quarter. Hedge funds and other institutional investors own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

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

BAE Systems Stock Down 2.5 %

Shares of BAE Systems stock opened at $64.92 on Monday. The firm’s 50 day moving average price is $67.98 and its 200-day moving average price is $68.24. BAE Systems has a 52-week low of $51.72 and a 52-week high of $72.81.

BAE Systems Cuts Dividend

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

BAE Systems Company 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.