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BAE Systems Share Price Unmoved Despite Contract Wins

Updated: 20 Oct 2021

BAE Systems (LON: BA.) shares are unmoved despite the company announcing 2 new contract wins on Tuesday. 

BAE shares, which have gained over 21% this year, are currently trading at 595p, up 0.4% on the day. 

Yesterday, the company's shares slightly declined despite announcing that the U.S. Air Force has awarded the BAE Systems-Sierra Nevada Corporation (SNC) team a contract to provide a prototype design for the next-generation open architecture signals intelligence (SIGINT) technology.

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“Our SIGINT technology is one of the few on the market designed from the start with open architecture,” said David Logan, vice president and general manager of C4ISR Systems at BAE Systems, following the announcement. 

Later that evening, after the market closed in London, it was revealed BAE had won a $154.11 million Navy contract. The contract sees the company provide engineering support to the Naval Air Warfare Center Aircraft Division.

Despite the contract wins, BAE shares have failed to rally, but investors will be so far pleased with its year-to-date performance. 

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