Vanguard Group Inc. cut its position in B/E Aerospace Inc. (NASDAQ:BEAV) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,682,240 shares of the company’s stock after selling 221,105 shares during the period. Vanguard Group Inc. owned 7.56% of B/E Aerospace worth $354,728,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Aperio Group LLC raised its stake in B/E Aerospace by 24.4% in the first quarter. Aperio Group LLC now owns 35,771 shares of the company’s stock worth $1,650,000 after buying an additional 7,017 shares during the last quarter. Nisa Investment Advisors L.L.C. raised its stake in shares of B/E Aerospace by 15.8% in the first quarter. Nisa Investment Advisors L.L.C. now owns 44,720 shares of the company’s stock valued at $2,062,000 after buying an additional 6,100 shares during the last quarter. Ngam Advisors L.P. raised its stake in shares of B/E Aerospace by 36.1% in the first quarter. Ngam Advisors L.P. now owns 28,891 shares of the company’s stock valued at $1,332,000 after buying an additional 7,663 shares during the last quarter. Algert Global LLC purchased a new stake in shares of B/E Aerospace during the first quarter valued at approximately $376,000. Finally, BlackRock Inc. raised its stake in shares of B/E Aerospace by 82.2% in the first quarter. BlackRock Inc. now owns 249,159 shares of the company’s stock valued at $11,491,000 after buying an additional 112,429 shares during the last quarter. 96.25% of the stock is owned by institutional investors and hedge funds.
Shares of B/E Aerospace Inc. (NASDAQ:BEAV) traded down 1.911% during trading on Friday, hitting $52.095. The stock had a trading volume of 65,759 shares. The firm has a 50 day moving average price of $50.39 and a 200 day moving average price of $48.12. B/E Aerospace Inc. has a 12-month low of $36.38 and a 12-month high of $53.25. The firm has a market cap of $5.29 billion, a P/E ratio of 18.007 and a beta of 1.03.
B/E Aerospace (NASDAQ:BEAV) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.02. The company had revenue of $753 million for the quarter, compared to the consensus estimate of $714.04 million. B/E Aerospace had a return on equity of 367.98% and a net margin of 10.56%. The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. On average, equities analysts expect that B/E Aerospace Inc. will post $3.26 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date was Thursday, August 11th. B/E Aerospace’s dividend payout ratio (DPR) is presently 28.97%.
Several brokerages recently commented on BEAV. Robert W. Baird began coverage on B/E Aerospace in a report on Wednesday. They issued an “outperform” rating and a $61.00 price objective for the company. Deutsche Bank AG lifted their price objective on B/E Aerospace from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. KeyCorp reaffirmed a “buy” rating and issued a $56.00 price objective on shares of B/E Aerospace in a report on Wednesday, September 28th. Jefferies Group reaffirmed a “hold” rating on shares of B/E Aerospace in a report on Monday, August 1st. Finally, Zacks Investment Research lowered B/E Aerospace from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $54.82.
About B/E Aerospace
B/E Aerospace, Inc is a manufacturer of cabin interior products for commercial aircraft and business jets. The Company sells its products and provides services to various airlines and aerospace manufacturers across the world. It operates through two segments: commercial aircraft (CAS) and business jet (BJS).
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