Directors dealings: BAE Systems finance chief forced to sell shares

BAE Systems's finance chief was forced to liquidate a substantial part of his holdings in the company he helps run, pursuant to a divorce settlement.

Peter Lynas on Friday sold 182,288 shares at an individual price of 483,25p, followed by the excercise of an option over another 11,691 shares, all of which were disposed of at 484.32p each one.

In total, Lynas cashed in £937,072.04- worth of shares.

On 4 May, speaking at the company's annual shareholder meeting, chief executive Ian King said: "Whilst economic and geo-political conditions remain volatile, we have started the year with good momentum and the business is performing well. In 2016 and beyond, we are well placed to continue to generate attractive returns for shareholders."

Analysts at RBC concurred, in a research note sent to clients on 16 June they said they saw UK aerospace and defence companies as the most exposed to a Brexit vote.

Despite the resulting underperformance by their 'top-pick' BAE Systems, they believed it was a "good opportunity to invest".

Shares in BAE Systems had fallen 5% year-to-date and the stock was trading on a 2017 price-to-earnings multiple of 11.4, versus an 8% rise during that same time-frame in shares of its US rivals, whose shares were trading on a 2017 P/E ratio of about 16.1.

"We think that the current valuation gap versus the US defense sector is likely to partially close post the Brexit vote and once the recovery in the US defense outlook becomes more apparent to BAE's UK investor base."

Top Director Buys

Computacenter (CCC)
Director name: Lock,Greg
Amount purchased: 26,000 @ 780.50p
Value: £202,930.00

Eu Supply (EUSP)
Director name: Beergrehn,Thomas Bo
Amount purchased: 1,400,000 @ 4.25p
Value: £59,500.00

Empiric Student Property (ESP)
Director name: Hadaway,Paul
Amount purchased: 43,515 @ 105.00p
Value: £45,690.75

Dunedin Enterprise Investment Trust (DNE)
Director name: Finlayson,Brian
Amount purchased: 10,000 @ 310.50p
Value: £31,050.00

Liontrust Asset Management (LIO)
Director name: Yeandle ,George
Amount purchased: 10,000 @ 284.00p
Value: £28,400.00

Invesco Income Growth Trust (IVI)
Director name: Dampier,Mark
Amount purchased: 9,887 @ 251.52p
Value: £24,867.78

Hogg Robinson Group (HRG)
Director name: Williams,Paul
Amount purchased: 25,000 @ 67.00p
Value: £16,750.00

Pendragon (PDG)
Director name: Holden ,Tim
Amount purchased: 40,000 @ 35.62p
Value: £14,248.00

Pendragon (PDG)
Director name: Holden ,Tim
Amount purchased: 40,000 @ 35.20p
Value: £14,080.00

Cobham (COB)
Director name: Murphy ,Robert (Bob)
Amount purchased: 7,500 @ 138.00p
Value: £10,350.00

Europa Oil & Gas (holdings) (EOG)
Director name: Mackay ,Hugh
Amount purchased: 250,327 @ 3.99p
Value: £9,988.05

Tex Holdings (TXH)
Director name: Parker ,Christopher
Amount purchased: 152,000 @ 1.04p
Value: £1,580.80

Kingfisher (KGF)
Director name: Witts,Karen
Amount purchased: 42 @ 352.00p
Value: £147.84

Jpmorgan Asian Inv Trust (JAI)
Director name: Gould,Ronald
Amount purchased: 57 @ 217.40p
Value: £123.92

Senior (SNR)
Director name: Harding ,Derek
Amount purchased: 41 @ 219.00p
Value: £89.79

Top Director Sells

Bae Systems (BA.)
Director name: Lynas,Peter
Amount sold: 182,288 @ 483.25p
Value: £880,906.76

Babcock International Group (BAB)
Director name: Rogers,Peter L
Amount sold: 72,208 @ 966.75p
Value: £698,070.81

Great Portland Estates (GPOR)
Director name: Courtauld,Toby
Amount sold: 73,995 @ 712.20p
Value: £526,992.41

Great Portland Estates (GPOR)
Director name: Thompson,Neil
Amount sold: 58,902 @ 712.20p
Value: £419,500.06

Great Portland Estates (GPOR)
Director name: Sanderson,Nick
Amount sold: 47,547 @ 712.20p
Value: £338,629.74

London & Associated Properties (LAS)
Director name: Heller,Michael A
Amount sold: 300,000 @ 25.00p
Value: £75,000.00

(HUR)
Director name: Platt,Neil
Amount sold: 418,341 @ 15.91p
Value: £66,558.05

(HUR)
Director name: Trice,Robert
Amount sold: 418,341 @ 15.91p
Value: £66,558.05

Bae Systems (BA.)
Director name: Lynas,Peter
Amount sold: 11,691 @ 484.32p
Value: £56,621.85

Pendragon (PDG)
Director name: Holden ,Tim
Amount sold: 40,000 @ 35.52p
Value: £14,208.00

Pendragon (PDG)
Director name: Holden ,Tim
Amount sold: 40,000 @ 35.10p
Value: £14,040.00