CenterBook Partners LP Boosts Position in Heico Corporation $HEI

CenterBook Partners LP raised its stake in Heico Corporation (NYSE:HEI) by 87.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,217 shares of the aerospace company’s stock after acquiring an additional 1,501 shares during the period. CenterBook Partners LP’s holdings in Heico were worth $1,039,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HEI. Westside Investment Management Inc. grew its position in shares of Heico by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock valued at $28,000 after buying an additional 43 shares during the last quarter. Greykasell Wealth Strategies Inc. acquired a new stake in shares of Heico during the third quarter worth about $29,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Heico in the 3rd quarter valued at about $31,000. Andra AP fonden purchased a new stake in shares of Heico in the 2nd quarter valued at about $66,000. Finally, Pittenger & Anderson Inc. boosted its position in shares of Heico by 159.2% in the 3rd quarter. Pittenger & Anderson Inc. now owns 324 shares of the aerospace company’s stock valued at $105,000 after purchasing an additional 199 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on HEI. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $375.00 price target (up previously from $350.00) on shares of Heico in a research report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heico in a report on Monday, December 29th. BNP Paribas Exane set a $330.00 price target on shares of Heico in a research note on Tuesday, November 18th. Susquehanna assumed coverage on shares of Heico in a research report on Friday, January 23rd. They set a “neutral” rating and a $385.00 price objective on the stock. Finally, Truist Financial upped their target price on shares of Heico from $366.00 to $391.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Ten analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Heico has an average rating of “Moderate Buy” and an average target price of $364.43.

Heico Stock Performance

Shares of HEI opened at $351.34 on Friday. The stock has a market capitalization of $48.96 billion, a P/E ratio of 71.56, a P/E/G ratio of 3.82 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 2.83. Heico Corporation has a 1 year low of $224.63 and a 1 year high of $361.69. The company’s fifty day moving average is $335.25 and its two-hundred day moving average is $322.07.

Heico (NYSE:HEI) last issued its earnings results on Thursday, December 18th. The aerospace company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.11. Heico had a net margin of 15.39% and a return on equity of 16.80%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the previous year, the firm earned $0.99 earnings per share. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were given a dividend of $0.12 per share. The ex-dividend date was Monday, January 5th. This represents a yield of 7.0%. Heico’s payout ratio is presently 4.89%.

Heico 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.