Westpac Banking Corp increased its position in B/E Aerospace Inc. (NASDAQ:BEAV) by 226.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,514 shares of the company’s stock after buying an additional 11,460 shares during the period. Westpac Banking Corp’s holdings in B/E Aerospace were worth $763,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of 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 worth $173,166,000 after buying an additional 360,682 shares during the period. State Street Corp boosted its position in shares of B/E Aerospace by 0.4% in the first quarter. State Street Corp now owns 3,652,826 shares of the company’s stock worth $168,466,000 after buying an additional 15,604 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of 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 worth $145,455,000 after buying an additional 528,873 shares during the period. Neuberger Berman Group LLC boosted its position in shares of B/E Aerospace by 3.4% in the second quarter. Neuberger Berman Group LLC now owns 2,079,080 shares of the company’s stock worth $96,002,000 after buying an additional 68,630 shares during the period. Finally, BlueMountain Capital Management LLC boosted its position in shares of B/E Aerospace by 11.1% in the first quarter. BlueMountain Capital Management LLC now owns 1,929,764 shares of the company’s stock worth $89,001,000 after buying an additional 192,285 shares during the period. Hedge funds and other institutional investors own 96.25% of the company’s stock.
B/E Aerospace Inc. (NASDAQ:BEAV) traded up 0.93% on Monday, hitting $52.14. The stock had a trading volume of 139,099 shares. The company has a market cap of $5.30 billion, a P/E ratio of 18.02 and a beta of 1.03. B/E Aerospace Inc. has a 52-week low of $36.38 and a 52-week high of $52.87. The firm’s 50-day moving average is $49.87 and its 200-day moving average is $47.96.
B/E Aerospace (NASDAQ:BEAV) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.02. The business earned $753 million during the quarter, compared to analyst estimates 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 revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Equities research analysts anticipate that B/E Aerospace Inc. will post $3.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were given a $0.21 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.84 annualized dividend and a yield of 1.62%. B/E Aerospace’s payout ratio is 28.97%.
A number of brokerages recently issued reports on BEAV. KeyCorp reissued a “buy” rating and set a $56.00 price target on shares of B/E Aerospace in a research note on Wednesday, September 28th. Jefferies Group reissued a “hold” rating on shares of B/E Aerospace in a research note on Monday, August 1st. Zacks Investment Research raised B/E Aerospace from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Wednesday, June 29th. Finally, Morgan Stanley began coverage on B/E Aerospace in a research note on Thursday, June 23rd. They set an “equal weight” rating for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. B/E Aerospace has an average rating of “Buy” and an average target price of $52.80.
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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