Heico Corporation $HEI Position Raised by Amova Asset Management Americas Inc.

Amova Asset Management Americas Inc. grew its position in shares of Heico Corporation (NYSE:HEI) by 80.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 27,049 shares of the aerospace company’s stock after purchasing an additional 12,085 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in Heico were worth $7,415,000 as of its most recent filing with the SEC.

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

Heico Price Performance

HEI opened at $341.07 on Tuesday. The stock has a fifty day moving average of $331.59 and a 200-day moving average of $317.81. The firm has a market capitalization of $47.63 billion, a P/E ratio of 60.90, a PEG ratio of 3.55 and a beta of 1.03. The company has a quick ratio of 1.36, a current ratio of 2.92 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.

Heico (NYSE:HEI) last released its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share 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 analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $1.12 EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts forecast that Heico Corporation will post 5.95 EPS for the current fiscal year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is currently 4.64%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HEI. Morgan Stanley set a $370.00 target price on shares of Heico in a research report on Wednesday, July 15th. Susquehanna upped their price target on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Royal Bank Of Canada raised their price objective on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. Finally, Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $374.56.

Insider Activity at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.86% of the stock is currently owned by company insiders.

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.