Morgan Stanley raised its stake in B/E Aerospace Inc (NASDAQ:BEAV) by 19.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,285,725 shares of the aerospace company’s stock after buying an additional 524,834 shares during the period. Morgan Stanley’s holdings in B/E Aerospace were worth $210,648,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. ETRADE Capital Management LLC purchased a new position in shares of B/E Aerospace during the third quarter valued at about $281,000. Russell Investments Group Ltd. purchased a new position in shares of B/E Aerospace during the fourth quarter valued at about $7,983,000. Comerica Bank boosted its position in shares of B/E Aerospace by 6.4% in the fourth quarter. Comerica Bank now owns 76,842 shares of the aerospace company’s stock valued at $4,700,000 after buying an additional 4,612 shares during the period. State Street Corp boosted its position in shares of B/E Aerospace by 4.6% in the fourth quarter. State Street Corp now owns 3,701,403 shares of the aerospace company’s stock valued at $222,776,000 after buying an additional 161,091 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of B/E Aerospace during the fourth quarter valued at about $8,707,000. Hedge funds and other institutional investors own 91.98% of the company’s stock.
B/E Aerospace Inc (BEAV) remained flat at $64.47 during mid-day trading on Tuesday. The firm has a 50-day moving average price of $64.21 and a 200-day moving average price of $60.07. B/E Aerospace Inc has a one year low of $42.57 and a one year high of $65.26.
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Separately, Jefferies Group LLC reissued a “hold” rating and issued a $62.00 price objective on shares of B/E Aerospace in a research note on Tuesday, April 18th. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $60.75.
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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