B/E Aerospace Inc (NASDAQ:BEAV) was the recipient of a significant drop in short interest in the month of April. As of April 13th, there was short interest totalling 885,167 shares, a drop of 20.3% from the March 31st total of 1,111,136 shares. Based on an average daily trading volume, of 612,267 shares, the short-interest ratio is presently 1.4 days.
In other news, VP Ryan M. Patch sold 8,975 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $64.39, for a total transaction of $577,900.25. Following the completion of the sale, the vice president now owns 32,607 shares of the company’s stock, valued at $2,099,564.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.54% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Segall Bryant & Hamill LLC raised its position in B/E Aerospace by 0.4% in the first quarter. Segall Bryant & Hamill LLC now owns 6,950 shares of the aerospace company’s stock valued at $446,000 after buying an additional 30 shares in the last quarter. Advisor Group Inc. raised its position in B/E Aerospace by 3.4% in the third quarter. Advisor Group Inc. now owns 2,427 shares of the aerospace company’s stock valued at $125,000 after buying an additional 80 shares in the last quarter. Utah Retirement Systems raised its position in B/E Aerospace by 0.5% in the first quarter. Utah Retirement Systems now owns 18,711 shares of the aerospace company’s stock valued at $1,200,000 after buying an additional 100 shares in the last quarter. Baker Ellis Asset Management LLC raised its position in B/E Aerospace by 0.4% in the third quarter. Baker Ellis Asset Management LLC now owns 48,650 shares of the aerospace company’s stock valued at $2,513,000 after buying an additional 170 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in B/E Aerospace by 1.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,239 shares of the aerospace company’s stock valued at $977,000 after buying an additional 204 shares in the last quarter. 91.98% of the stock is owned by hedge funds and other institutional investors.
Shares of B/E Aerospace (NASDAQ:BEAV) remained flat at $64.47 during midday trading on Friday. The company’s 50-day moving average is $64.21 and its 200 day moving average is $60.07. B/E Aerospace has a one year low of $42.57 and a one year high of $65.26.
BEAV has been the subject of a number of research reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $61.00 price objective on shares of B/E Aerospace in a report on Friday, January 20th. Jefferies Group LLC set a $62.00 price objective on shares of B/E Aerospace and gave the stock a “hold” rating in a report on Thursday, March 16th. Twelve investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. B/E Aerospace currently has a consensus rating of “Hold” and an average price target of $59.56.
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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 directly to airlines and aerospace manufacturer. It operates through two segments. The Company manufactures aircraft seats, offering a selection of first class, business class, tourist class and regional aircraft seats.
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