CX Institutional Buys New Position in HEICO Co. (NYSE:HEI)

CX Institutional bought a new stake in HEICO Co. (NYSE:HEI) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 808 shares of the aerospace company’s stock, valued at approximately $216,000.

A number of other institutional investors have also recently bought and sold shares of HEI. NBC Securities Inc. purchased a new stake in HEICO in the first quarter valued at approximately $27,000. Banque Transatlantique SA purchased a new stake in HEICO during the fourth quarter worth approximately $44,000. Atwood & Palmer Inc. purchased a new stake in HEICO during the first quarter worth approximately $80,000. SBI Securities Co. Ltd. purchased a new stake in HEICO during the fourth quarter worth approximately $135,000. Finally, Aster Capital Management DIFC Ltd grew its stake in HEICO by 252.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company’s stock worth $158,000 after buying an additional 475 shares during the period. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on HEI. Truist Financial decreased their price objective on shares of HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Wall Street Zen upgraded shares of HEICO from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. Wells Fargo & Company boosted their price objective on shares of HEICO from $244.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Friday, May 30th. William Blair restated an “outperform” rating on shares of HEICO in a research note on Tuesday, March 25th. Finally, Morgan Stanley upped their target price on shares of HEICO from $270.00 to $305.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 4th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.45.

HEICO Trading Up 0.5%

HEI opened at $305.54 on Friday. The stock has a market capitalization of $42.50 billion, a PE ratio of 83.48, a P/E/G ratio of 3.10 and a beta of 1.07. The firm’s fifty day moving average price is $269.48 and its 200 day moving average price is $254.17. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. HEICO Co. has a 12-month low of $216.68 and a 12-month high of $307.27.

HEICO (NYSE:HEI) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. As a group, research analysts expect that HEICO Co. will post 4.2 EPS for the current fiscal year.

HEICO Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.12 dividend. This represents a dividend yield of 0.1%. The ex-dividend date is Tuesday, July 1st. This is a boost from HEICO’s previous semi-annual dividend of $0.11. HEICO’s dividend payout ratio (DPR) is 5.61%.

Insider Buying and Selling

In other HEICO news, Director Alan Schriesheim sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total value of $11,978,500.00. Following the completion of the transaction, the director now directly owns 157,197 shares in the company, valued at $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Julie Neitzel sold 700 shares of the firm’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the transaction, the director now owns 418 shares of the company’s stock, valued at approximately $102,924.14. The trade was a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,056 shares of company stock valued at $22,699,941 in the last quarter. Company insiders own 9.55% of the company’s stock.

HEICO Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.