Tower Research Capital LLC TRC Sells 1,868 Shares of B/E Aerospace Inc. (BEAV)
Tower Research Capital LLC TRC cut its position in shares of B/E Aerospace Inc. (NASDAQ:BEAV) by 36.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,298 shares of the company’s stock after selling 1,868 shares during the period. Tower Research Capital LLC TRC’s holdings in B/E Aerospace were worth $153,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Intermede Investment Partners Ltd increased its stake in B/E Aerospace by 28.9% in the second quarter. Intermede Investment Partners Ltd now owns 830,030 shares of the company’s stock worth $38,327,000 after buying an additional 185,903 shares during the period. State Street Corp increased its stake in 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. Renaissance Technologies LLC increased its stake in B/E Aerospace by 13.2% in the first quarter. Renaissance Technologies LLC now owns 726,506 shares of the company’s stock worth $33,506,000 after buying an additional 84,700 shares during the period. Geode Capital Management LLC increased its stake in B/E Aerospace by 18.7% in the first quarter. Geode Capital Management LLC now owns 778,446 shares of the company’s stock worth $35,883,000 after buying an additional 122,542 shares during the period. Finally, Westpac Banking Corp increased its stake in B/E Aerospace by 226.8% in the second quarter. Westpac Banking Corp now owns 16,514 shares of the company’s stock worth $763,000 after buying an additional 11,460 shares during the period. Institutional investors own 96.25% of the company’s stock.
B/E Aerospace Inc. (NASDAQ:BEAV) opened at 52.29 on Friday. The company has a market capitalization of $5.31 billion, a PE ratio of 18.07 and a beta of 1.03. The firm’s 50-day moving average is $50.48 and its 200-day moving average is $48.15. B/E Aerospace Inc. has a 52-week low of $36.38 and a 52-week high of $53.25.
B/E Aerospace (NASDAQ:BEAV) last issued its earnings results on Tuesday, July 26th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.02. B/E Aerospace had a return on equity of 367.98% and a net margin of 10.56%. The company had revenue of $753 million for the quarter, compared to analysts’ expectations of $714.04 million. During the same period last year, the business earned $0.75 EPS. B/E Aerospace’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that B/E Aerospace Inc. will post $3.26 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Investors of record on Monday, August 15th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date of this dividend was Thursday, August 11th. B/E Aerospace’s dividend payout ratio is currently 28.97%.
A number of brokerages recently weighed in on BEAV. KeyCorp restated a “buy” rating and set a $56.00 target price on shares of B/E Aerospace in a report on Wednesday, September 28th. Morgan Stanley began coverage on shares of B/E Aerospace in a report on Thursday, June 23rd. They set an “equal weight” rating on the stock. Robert W. Baird began coverage on shares of B/E Aerospace in a report on Wednesday. They set an “outperform” rating and a $61.00 target price on the stock. Deutsche Bank AG boosted their target price on shares of B/E Aerospace from $55.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Zacks Investment Research upgraded shares of B/E Aerospace from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Wednesday, June 29th. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. B/E Aerospace currently has an average rating of “Buy” and a consensus price target of $54.82.
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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