Freestone Grove Partners LP purchased a new position in Heico Corporation (NYSE:HEI – Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 141,150 shares of the aerospace company’s stock, valued at approximately $50,276,000.
Several other hedge funds have also recently made changes to their positions in the stock. IFC & Insurance Marketing Inc. bought a new position in Heico during the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the period. Birchwood Financial Partners Inc. bought a new stake in Heico in the 4th quarter worth approximately $32,000. Miller Capital Partners Inc. purchased a new stake in Heico during the 4th quarter valued at $70,000. Finally, BNP Paribas purchased a new stake in Heico during the 4th quarter valued at $79,000. 27.12% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting Heico
Here are the key news stories impacting Heico this week:
- Positive Sentiment: HEICO’s third-quarter revenue rose 23% year over year to $1.41 billion, exceeding the $1.35 billion consensus estimate. Earnings per share reached $1.67, beating expectations of $1.51 and increasing from $1.26 a year earlier. HEICO Corporation Q3 Earnings and Revenues Beat Estimates
- Positive Sentiment: Profitability was especially strong: net income increased 33% to a record $235.4 million, while operating income climbed 34%. Consolidated organic sales growth reached 14%, indicating that gains extended beyond acquisitions. HEICO Reports Record Fiscal Third-Quarter Results
- Positive Sentiment: HEICO subsidiary VPT expanded distribution through DigiKey for its military, avionics and space power-conversion products. The move could improve product accessibility and support future sales, although the near-term financial effect is likely limited. VPT Products Now Available on DigiKey
- Neutral Sentiment: The quarterly beat was driven by continued aerospace and defense demand, along with acquisitions. Investors will likely focus on whether HEICO can sustain its growth rate and margins in coming quarters. HEICO Third-Quarter Revenue Climbs
- Negative Sentiment: Despite the earnings beat, HEI trades at a high valuation, with a price-to-earnings ratio near 62 and a price-to-earnings-growth ratio of 3.56. That premium may be encouraging profit-taking and raising the bar for future earnings surprises.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on HEI
Insider Activity at Heico
In other news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 4.86% of the stock is owned by company insiders.
Heico Trading Down 1.2%
Shares of HEI stock opened at $346.82 on Thursday. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. The firm has a fifty day moving average price of $353.86 and a 200-day moving average price of $321.38. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The company has a market cap of $48.44 billion, a price-to-earnings ratio of 57.71, a PEG ratio of 3.54 and a beta of 1.04.
Heico (NYSE:HEI – Get Free Report) last announced its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. Heico had a return on equity of 18.41% and a net margin of 16.38%.The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the firm earned $1.26 EPS. Heico’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, equities analysts predict that Heico Corporation will post 6.02 earnings per share for the current year.
Heico Announces Dividend
The business also recently declared a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.13 dividend. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s dividend payout ratio is presently 4.64%.
Heico Company Profile
HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.
HEICO operates through two principal business areas.
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