Assenagon Asset Management S.A. Takes Position in Heico Corporation $HEI

Assenagon Asset Management S.A. bought a new position in shares of Heico Corporation (NYSE:HEI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 32,389 shares of the aerospace company’s stock, valued at approximately $8,881,000.

Several other hedge funds and other institutional investors have also modified their holdings of HEI. Verde Capital Management bought a new stake in shares of Heico during the 1st quarter worth about $1,204,000. CPC Advisors LLC boosted its holdings in shares of Heico by 208.4% during the first quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company’s stock worth $2,519,000 after acquiring an additional 6,208 shares during the period. World Investment Advisors grew its position in shares of Heico by 10.2% in the fourth quarter. World Investment Advisors now owns 1,760 shares of the aerospace company’s stock valued at $570,000 after purchasing an additional 163 shares during the last quarter. Bayban acquired a new position in shares of Heico in the fourth quarter valued at approximately $89,000. Finally, Alpine Global Management LLC bought a new position in shares of Heico during the fourth quarter worth approximately $374,000. Institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial raised Heico to a “strong-buy” rating in a report on Friday, May 1st. Citigroup reiterated a “buy” rating and set a $403.00 price objective (up from $323.00) on shares of Heico in a research report on Monday, June 1st. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Weiss Ratings cut shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the company an “equal weight” rating in a research note on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $371.62.

Insider Transactions at Heico

In other Heico 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 value of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total value of $150,748.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.86% of the company’s stock.

Heico Stock Down 0.1%

NYSE HEI opened at $344.83 on Monday. The business has a fifty day moving average price of $307.94 and a two-hundred day moving average price of $314.38. The stock has a market capitalization of $48.16 billion, a PE ratio of 61.58, a PEG ratio of 3.68 and a beta of 1.03. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $361.69. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36.

Heico (NYSE:HEI) last issued 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 company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the company posted $1.12 EPS. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. Equities analysts expect that Heico Corporation will post 5.78 earnings per share for the current fiscal year.

Heico Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a yield of 8.0%. Heico’s dividend payout ratio (DPR) is 4.29%.

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.