Clare Market Investments LLC Invests $686,000 in Heico Corporation $HEI

Clare Market Investments LLC acquired a new position in Heico Corporation (NYSE:HEI) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,500 shares of the aerospace company’s stock, valued at approximately $686,000.

Other institutional investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. raised its position in shares of Heico by 14.5% during the first quarter. Koshinski Asset Management Inc. now owns 823 shares of the aerospace company’s stock worth $226,000 after acquiring an additional 104 shares during the last quarter. Bayban increased its position in Heico by 19.6% during the 1st quarter. Bayban now owns 330 shares of the aerospace company’s stock valued at $90,000 after purchasing an additional 54 shares during the period. Global Trust Asset Management LLC increased its position in Heico by 3.5% during the 1st quarter. Global Trust Asset Management LLC now owns 4,380 shares of the aerospace company’s stock valued at $1,201,000 after purchasing an additional 150 shares during the period. Wendell David Associates Inc. lifted its position in shares of Heico by 54.5% in the 1st quarter. Wendell David Associates Inc. now owns 10,189 shares of the aerospace company’s stock worth $2,794,000 after purchasing an additional 3,595 shares during the period. Finally, MQS Management LLC bought a new stake in shares of Heico in the 1st quarter valued at $244,000. Institutional investors own 27.12% of the company’s stock.

Heico Trading Down 1.9%

Shares of Heico stock opened at $358.27 on Tuesday. The company’s 50-day moving average price is $317.40 and its 200-day moving average price is $316.43. 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 Corporation has a 12-month low of $256.11 and a 12-month high of $369.48. The company has a market cap of $50.04 billion, a price-to-earnings ratio of 65.26, a PEG ratio of 3.86 and a beta of 1.03.

Heico (NYSE:HEI) last posted its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.12 EPS. On average, equities analysts expect that Heico Corporation will post 5.78 earnings per share for the current fiscal year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s dividend payout ratio (DPR) is 4.64%.

Insider Activity

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Julie Neitzel sold 676 shares of Heico stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. The SEC filing for this sale provides additional information. Insiders own 4.86% of the company’s stock.

Wall Street Analysts Forecast Growth

HEI has been the subject of a number of analyst reports. Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Zacks Research raised shares of Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Citigroup reiterated a “buy” rating and set a $410.00 price target (up from $403.00) on shares of Heico in a report on Wednesday, July 1st. Royal Bank Of Canada boosted their price objective on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Finally, Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Heico has a consensus rating of “Moderate Buy” and a consensus target price of $372.06.

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.