Advisors Asset Management Inc. cut its position in B/E Aerospace Inc. (NASDAQ:BEAV) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 7,756 shares of the company’s stock after selling 319 shares during the period. Advisors Asset Management Inc.’s holdings in B/E Aerospace were worth $358,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Thompson Siegel & Walmsley LLC increased its position in B/E Aerospace by 177.1% in the second quarter. Thompson Siegel & Walmsley LLC now owns 2,217 shares of the company’s stock worth $102,000 after buying an additional 1,417 shares in the last quarter. FineMark National Bank & Trust increased its position in B/E Aerospace by 10.4% in the second quarter. FineMark National Bank & Trust now owns 2,839 shares of the company’s stock worth $131,000 after buying an additional 268 shares in the last quarter. Bessemer Group Inc. purchased a new position in B/E Aerospace during the first quarter worth approximately $171,000. CIBC Asset Management Inc increased its position in B/E Aerospace by 1.0% in the second quarter. CIBC Asset Management Inc now owns 5,299 shares of the company’s stock worth $245,000 after buying an additional 52 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in B/E Aerospace during the first quarter worth approximately $259,000. Hedge funds and other institutional investors own 96.25% of the company’s stock.
Shares of B/E Aerospace Inc. (NASDAQ:BEAV) traded up 1.41% on Friday, reaching $51.66. The company had a trading volume of 932,227 shares. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 17.86 and a beta of 1.02. The company’s 50-day moving average price is $49.87 and its 200-day moving average price is $47.96. B/E Aerospace Inc. has a 52-week low of $36.38 and a 52-week high of $52.87.
B/E Aerospace (NASDAQ:BEAV) last released its earnings results on Tuesday, July 26th. The company reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The firm had revenue of $753 million for the quarter, compared to analysts’ expectations of $714.04 million. B/E Aerospace had a return on equity of 367.98% and a net margin of 10.56%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. On average, analysts predict that B/E Aerospace Inc. will post $3.26 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, August 11th. B/E Aerospace’s payout ratio is 28.97%.
A number of equities analysts recently commented on the company. Zacks Investment Research downgraded B/E Aerospace from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. KeyCorp reiterated a “buy” rating and set a $56.00 price target on shares of B/E Aerospace in a report on Wednesday. Jefferies Group reiterated a “hold” rating on shares of B/E Aerospace in a report on Monday, August 1st. Finally, Morgan Stanley initiated coverage on B/E Aerospace in a report on Thursday, June 23rd. They set an “equal weight” rating on the stock. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. B/E Aerospace currently has an average rating of “Buy” and an average price target of $52.80.
B/E Aerospace Company Profile
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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