Victory Capital Management Inc. raised its stake in shares of B/E Aerospace Inc. (NASDAQ:BEAV) by 5.6% during the second quarter, Holdings Channel reports. The institutional investor owned 15,188 shares of the company’s stock after buying an additional 811 shares during the period. Victory Capital Management Inc.’s holdings in B/E Aerospace were worth $701,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in BEAV. Emerald Acquisition Ltd. acquired a new position in B/E Aerospace during the second quarter valued at approximately $31,523,000. Fuller & Thaler Asset Management Inc. raised its position in B/E Aerospace by 20.2% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,150,084 shares of the company’s stock valued at $145,455,000 after buying an additional 528,873 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in B/E Aerospace by 10.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,754,677 shares of the company’s stock valued at $173,166,000 after buying an additional 360,682 shares in the last quarter. Zweig DiMenna Associates LLC acquired a new position in B/E Aerospace during the second quarter valued at approximately $14,083,000. Finally, Nordea Investment Management AB raised its position in B/E Aerospace by 1,872.7% in the second quarter. Nordea Investment Management AB now owns 304,020 shares of the company’s stock valued at $14,038,000 after buying an additional 288,609 shares in the last quarter. 96.25% of the stock is currently owned by institutional investors.
Shares of B/E Aerospace Inc. (NASDAQ:BEAV) traded up 0.84% on Tuesday, reaching $50.54. 218,025 shares of the company were exchanged. B/E Aerospace Inc. has a 52 week low of $36.38 and a 52 week high of $52.87. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 17.47 and a beta of 1.02. The company’s 50-day moving average is $49.42 and its 200-day moving average is $47.83.
B/E Aerospace (NASDAQ:BEAV) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ 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 quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.75 EPS. On average, equities analysts expect that B/E Aerospace Inc. will post $3.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Thursday, August 11th. B/E Aerospace’s dividend payout ratio (DPR) is currently 28.97%.
Several brokerages have weighed in on BEAV. Morgan Stanley began coverage on shares of B/E Aerospace in a research report on Thursday, June 23rd. They set an “equal weight” rating for the company. Zacks Investment Research cut shares of B/E Aerospace from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Jefferies Group reissued a “hold” rating on shares of B/E Aerospace in a research report on Monday, August 1st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $52.44.
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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