Retirement Systems of Alabama Has $15,733,000 Stake in B/E Aerospace Inc. (BEAV)
Retirement Systems of Alabama decreased its position in B/E Aerospace Inc. (NASDAQ:BEAV) by 6.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 340,732 shares of the company’s stock after selling 24,075 shares during the period. Retirement Systems of Alabama owned 0.33% of B/E Aerospace worth $15,733,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. 1st Global Advisors Inc. boosted its stake in shares of 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. Capstone Asset Management Co. boosted its stake in shares of B/E Aerospace by 2.2% in the second quarter. Capstone Asset Management Co. now owns 12,565 shares of the company’s stock worth $580,000 after buying an additional 270 shares during the last quarter. Legacy Private Trust Co. boosted its stake in shares of B/E Aerospace by 7.0% in the second quarter. Legacy Private Trust Co. now owns 7,220 shares of the company’s stock worth $333,000 after buying an additional 470 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of B/E Aerospace by 0.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 97,523 shares of the company’s stock worth $4,498,000 after buying an additional 560 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of B/E Aerospace by 3.7% in the first quarter. M&T Bank Corp now owns 25,332 shares of the company’s stock worth $1,167,000 after buying an additional 897 shares during the last quarter. 96.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of B/E Aerospace Inc. (NASDAQ:BEAV) traded up 1.41% on Friday, hitting $51.66. The stock had a trading volume of 932,227 shares. The firm has a 50 day moving average of $49.87 and a 200 day moving average of $47.96. B/E Aerospace Inc. has a 12 month low of $36.38 and a 12 month high of $52.87. The stock has a market cap of $5.25 billion, a P/E ratio of 17.86 and a beta of 1.02.
B/E Aerospace (NASDAQ:BEAV) last issued its quarterly earnings data on Tuesday, July 26th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 earned $753 million during the quarter, compared to analysts’ expectations of $714.04 million. During the same quarter in the previous year, the business earned $0.75 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. On average, equities analysts forecast that B/E Aerospace Inc. will post $3.26 earnings per share for the current fiscal year.
The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Thursday, August 11th. B/E Aerospace’s dividend payout ratio is currently 28.97%.
A number of brokerages have recently commented on BEAV. Zacks Investment Research cut shares of B/E Aerospace from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Jefferies Group reaffirmed a “hold” rating on shares of B/E Aerospace in a research note on Monday, August 1st. Morgan Stanley began coverage on shares of B/E Aerospace in a research note on Thursday, June 23rd. They set an “equal weight” rating on the stock. Finally, KeyCorp reaffirmed a “buy” rating and set a $56.00 price objective on shares of B/E Aerospace in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently 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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