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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems    BA.   GB0002634946

BAE SYSTEMS (BA.)
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BAE : UK PM's Husband's Capital Group Is Largest Shareholder in BAE, Shares Soar Since Syrian Airstrikes

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04/18/2018 | 02:19pm EST

The company, Capital Group, is also the second-largest shareholder in Lockheed Martin – a US military arms firm that supplies weapons systems, aircraft and logistical support. Its shares have also rocketed since the missile strikes last week, RT reported.

The fact has not gone unnoticed by some on Twitter, who agree that BAE Systems has done very well out of the UK-US-France allied airstrikes on Syria, which were sanctioned by May.

It has been reported that the UK’s contribution to military strikes was to fire eight ‘Storm-Shadow’ missiles at an alleged chemical weapons facility, each of which cost £790,000 ($1.13 million) – totaling £6.32 million ($9 million). The missiles were manufactured by BAE Systems.

May’s husband has worked as a relationship manager for the research investment company Capital Group since 2005.

The Tory-BAE links go even deeper, however. The former chancellor of the exchequer and present editor-in-chief at the Evening Standard, George Osborne’s other employer Black Rock is the fifth-largest shareholder in BAE Systems.

Figures revealed as of March 31, 2018 discover that the Capital Group has amassed over 360,000 shares in the company, up over 11 percent on the previous quarter, which may have contributed to a hefty rise in BAE’s share price, which currently stands at around 600p.

Philip May’s Capital Group was linked to the Paradise Papers scandal in 2017. News and current affairs magazine, Private Eye, suggested at the time that Philip May's company used offshore law firm Appleby to devise investments in tax havens.

When asked at the time of the scandal about her husband's role, a Spokesperson for Prime Minister told reporters that "Mr. May is involved in the development of Capital Group’s retirement solutions. He is not an investor but consults with other Capital associates on retirement products and solutions for clients.”

The latest news came on the back of a recent deal agreed by BAE Systems and the Saudi government for the provisional sale of 48 Typhoon jets to the Kingdom.

The deal was welcomed by the relevant government officials from the UK and Saudi Arabia, who said it would help safeguard jobs. However, it was criticized by arms campaigners worried about the ongoing war in Yemen.

Companies profiting from war – not a new concept, but many may question how this all sits with Philip May, the PM’s supposedly ‘closest political ally.’

(c) 2018 Fars News Agency. All rights reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (GBP)
Sales 2018 18 457 M
EBIT 2018 1 881 M
Net income 2018 1 114 M
Debt 2018 796 M
Yield 2018 4,37%
P/E ratio 2018 14,72
P/E ratio 2019 13,60
EV / Sales 2018 0,93x
EV / Sales 2019 0,87x
Capitalization 16 299 M
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 6,38  GBP
Spread / Average Target 25%
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Managers
NameTitle
Charles Nicolas Woodburn Chief Executive Officer & Director
Roger M. Carr Chairman
Peter John Lynas Executive Director & Group Finance Director
Nigel Whitehead Chief Technology Officer
Steve N. Millward Chief Information Officer
Sector and Competitors
1st jan.Capitalization (M$)
BAE SYSTEMS11.06%20 979
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LOCKHEED MARTIN CORPORATION8.03%80 455
GENERAL DYNAMICS5.41%49 078
RAYTHEON7.86%47 072
NORTHROP GRUMMAN CORPORATION7.83%46 487