BAE Systems plc (OTCMKTS:BAESY) Short Interest Up 7.7% in October

BAE Systems plc (OTCMKTS:BAESY) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 8,400 shares, an increase of 7.7% from the September 30th total of 7,800 shares. Based on an average trading volume of 366,000 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Investors Weigh In On BAE Systems

Hedge funds have recently added to or reduced their stakes in the business. Confluence Investment Management LLC bought a new stake in shares of BAE Systems during the second quarter valued at approximately $682,000. Rhumbline Advisers increased its holdings in shares of BAE Systems by 29.3% during the second quarter. Rhumbline Advisers now owns 4,593 shares of the aerospace company’s stock valued at $307,000 after acquiring an additional 1,042 shares in the last quarter. Atlas Capital Advisors LLC increased its holdings in shares of BAE Systems by 68.9% during the second 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. Finally, GAMMA Investing LLC increased 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 acquiring an additional 322 shares in the last quarter. 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 Trading Down 1.9 %

Shares of BAESY stock opened at $64.45 on Friday. The stock has a 50 day simple moving average of $68.35 and a two-hundred day simple moving average of $68.15. BAE Systems has a fifty-two week low of $51.72 and a fifty-two week high of $72.81.

BAE Systems Cuts Dividend

The firm also recently announced a dividend, which will be paid on Monday, December 9th. Shareholders of record on Friday, October 25th will be issued a $0.6333 dividend. The ex-dividend date is Friday, October 25th.

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.