Intermede Investment Partners Ltd raised its stake in B/E Aerospace Inc. (NASDAQ:BEAV) by 28.9% during the second quarter, Holdings Channel reports. The firm owned 830,030 shares of the company’s stock after buying an additional 185,903 shares during the period. B/E Aerospace comprises 4.4% of Intermede Investment Partners Ltd’s investment portfolio, making the stock its 7th largest position. Intermede Investment Partners Ltd’s holdings in B/E Aerospace were worth $38,327,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. purchased a new stake in B/E Aerospace during the first quarter worth about $171,000. Schonfeld Strategic Advisors LLC purchased a new stake in B/E Aerospace during the first quarter worth about $259,000. 1st Global Advisors Inc. boosted its stake in B/E Aerospace by 2.1% in the second quarter. 1st Global Advisors Inc. now owns 5,652 shares of the company’s stock worth $261,000 after buying an additional 115 shares during the last quarter. Morris Capital Advisors LLC purchased a new stake in B/E Aerospace during the first quarter worth about $301,000. Finally, Parametrica Management Ltd purchased a new stake in B/E Aerospace during the second quarter worth about $309,000. 96.25% of the stock is owned by institutional investors and hedge funds.
B/E Aerospace Inc. (NASDAQ:BEAV) traded up 0.80% during trading on Tuesday, hitting $50.52. The stock had a trading volume of 663,101 shares. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 17.46 and a beta of 1.02. B/E Aerospace Inc. has a 12-month low of $36.38 and a 12-month high of $52.87. The stock has a 50 day moving average price of $49.42 and a 200 day moving average price of $47.83.
B/E Aerospace (NASDAQ:BEAV) last announced its earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.02. The firm earned $753 million during the quarter, compared to analyst estimates of $714.04 million. B/E Aerospace had a net margin of 10.56% and a return on equity of 367.98%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 EPS. Equities research analysts forecast that B/E Aerospace Inc. will post $3.26 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Thursday, August 11th. B/E Aerospace’s payout ratio is presently 28.97%.
A number of analysts recently issued reports on the company. Zacks Investment Research cut B/E Aerospace from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Jefferies Group reissued a “hold” rating on shares of B/E Aerospace in a research report on Monday, August 1st. Finally, Morgan Stanley started coverage on B/E Aerospace in a research report on Thursday, June 23rd. They set an “equal weight” rating for the company. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently 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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