K.J. Harrison & Partners Inc acquired a new stake in Heico Corporation (NYSE:HEI – Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,000 shares of the aerospace company’s stock, valued at approximately $4,274,000.
Several other institutional investors have also modified their holdings of the company. Perigon Wealth Management LLC purchased a new stake in Heico during the 2nd quarter worth about $1,662,000. Plato Investment Management Ltd acquired a new stake in shares of Heico in the second quarter valued at approximately $1,545,000. Flputnam Investment Management Co. purchased a new position in Heico during the 2nd quarter worth $214,000. Bank of New York Mellon Corp purchased a new position in shares of Heico during the second quarter worth about $54,386,000. Finally, Private Advisory Group LLC purchased a new position in shares of Heico in the 2nd quarter valued at approximately $349,000. 27.12% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
HEI has been the topic of a number of recent analyst reports. Citigroup reiterated a “buy” rating and set a $429.00 price target (up from $410.00) on shares of Heico in a research note on Thursday. UBS Group restated a “neutral” rating and issued a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research report on Saturday. Morgan Stanley set a $370.00 target price on shares of Heico in a report on Wednesday, July 15th. Finally, Rothschild & Co Redburn set a $360.00 price target on Heico and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $376.69.
Insider Buying and Selling at Heico
In other news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.86% of the stock is owned by corporate insiders.
Heico Trading Down 1.1%
Shares of HEI stock opened at $370.69 on Tuesday. The firm’s 50 day moving average price is $350.63 and its two-hundred day moving average price is $320.08. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The stock has a market cap of $51.77 billion, a price-to-earnings ratio of 66.19, a price-to-earnings-growth ratio of 3.88 and a beta of 1.04.
Heico (NYSE:HEI – Get Free Report) last announced its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned $1.12 EPS. The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, analysts anticipate that Heico Corporation will post 5.95 EPS for the current year.
Heico Announces Dividend
The company also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s dividend payout ratio (DPR) is presently 4.64%.
About Heico
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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