First Trust Advisors LP Invests $1,116,000 in B/E Aerospace Inc. (BEAV)
First Trust Advisors LP bought a new position in B/E Aerospace Inc. (NASDAQ:BEAV) during the second quarter, Holdings Channel reports. The institutional investor bought 24,160 shares of the company’s stock, valued at approximately $1,116,000.
Several other large investors have also recently bought and sold shares of BEAV. BlackRock Institutional Trust Company N.A. increased its stake 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 increased its stake 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. BlueMountain Capital Management LLC increased its stake 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 valued at $89,001,000 after buying an additional 192,285 shares during the last quarter. Intermede Investment Partners Ltd increased its stake in shares of B/E Aerospace by 28.9% in the second quarter. Intermede Investment Partners Ltd now owns 830,030 shares of the company’s stock valued at $38,327,000 after buying an additional 185,903 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of B/E Aerospace by 23.2% in the first quarter. BlackRock Group LTD now owns 800,296 shares of the company’s stock valued at $36,910,000 after buying an additional 150,735 shares during the last quarter. Institutional investors own 96.25% of the company’s stock.
Shares of B/E Aerospace Inc. (NASDAQ:BEAV) traded up 0.12% during mid-day trading on Tuesday, reaching $51.86. The company’s stock had a trading volume of 306,127 shares. The stock has a 50 day moving average of $50.01 and a 200-day moving average of $48.02. B/E Aerospace Inc. has a one year low of $36.38 and a one year high of $52.87. The stock has a market cap of $5.27 billion, a P/E ratio of 17.93 and a beta of 1.03.
B/E Aerospace (NASDAQ:BEAV) last issued its earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. The business 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 revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, equities research analysts expect that B/E Aerospace Inc. will post $3.26 EPS for the current fiscal year.
The company also recently declared 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 annualized dividend and a dividend yield of 1.62%. The ex-dividend date was Thursday, August 11th. B/E Aerospace’s payout ratio is presently 28.97%.
Several equities research analysts have recently weighed in 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 issued a $56.00 price target on shares of B/E Aerospace in a report on Wednesday, September 28th. Jefferies Group reiterated a “hold” rating on shares of B/E Aerospace in a report on Monday, August 1st. Finally, Morgan Stanley assumed coverage on B/E Aerospace in a report on Thursday, June 23rd. They issued an “equal weight” rating on the stock. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. B/E Aerospace presently 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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