Diamant Asset Management Inc. Purchases 760,687 Shares of Heico Corporation $HEI

Diamant Asset Management Inc. grew its position in Heico Corporation (NYSE:HEI) by 25,698.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 763,647 shares of the aerospace company’s stock after acquiring an additional 760,687 shares during the quarter. Heico accounts for 0.7% of Diamant Asset Management Inc.’s portfolio, making the stock its 26th biggest holding. Diamant Asset Management Inc. owned approximately 0.55% of Heico worth $209,392,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IFC & Insurance Marketing Inc. purchased a new position in shares of Heico in the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC raised its stake in Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. bought a new position in Heico during the fourth quarter valued at $32,000. V Square Quantitative Management LLC purchased a new position in shares of Heico in the 4th quarter worth $37,000. Finally, FNY Investment Advisers LLC grew its stake in shares of Heico by 862.5% in the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock worth $49,000 after buying an additional 138 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Zacks Research raised shares of Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Jefferies Financial Group restated a “buy” rating and set a $410.00 price objective (up from $375.00) on shares of Heico in a research report on Thursday, May 28th. Citigroup reaffirmed a “buy” rating and issued a $403.00 price objective (up from $323.00) on shares of Heico in a research note on Monday, June 1st. Wells Fargo & Company set a $350.00 target price on Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, Truist Financial raised Heico to a “strong-buy” rating in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $371.62.

Heico Stock Up 0.7%

Shares of NYSE HEI opened at $344.83 on Friday. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $361.69. The stock’s fifty day simple moving average is $307.94 and its two-hundred day simple moving average is $314.38. The stock has a market capitalization of $48.16 billion, a PE ratio of 61.58, a price-to-earnings-growth ratio of 3.68 and a beta of 1.03. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping 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 analyst estimates of $1.25 billion. During the same period in the previous year, the company posted $1.12 EPS. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, analysts expect that Heico Corporation will post 5.78 EPS for the current fiscal year.

Heico Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.13 per share. This represents a dividend yield of 8.0%. The ex-dividend date of this dividend is Wednesday, July 1st. Heico’s dividend payout ratio is presently 4.29%.

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Julie Neitzel sold 676 shares of Heico stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.86% of the company’s stock.

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.