ABC Arbitrage SA Purchases New Stake in Heico Corporation $HEI

ABC Arbitrage SA purchased a new position in Heico Corporation (NYSE:HEI) in the first quarter, Holdings Channel reports. The fund purchased 7,276 shares of the aerospace company’s stock, valued at approximately $1,995,000.

A number of other large investors also recently bought and sold shares of the company. IFC & Insurance Marketing Inc. acquired a new stake in shares of Heico during the 4th quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC grew its position in shares of 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 buying an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. bought a new stake in shares of Heico during the 4th quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new stake in Heico during the fourth quarter worth about $37,000. Finally, FNY Investment Advisers LLC lifted its holdings in Heico by 862.5% in the fourth quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock worth $49,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Analyst Ratings Changes

HEI has been the topic of several recent research reports. Wells Fargo & Company set a $350.00 price target on Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st. Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings downgraded shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Finally, UBS Group reiterated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $372.06.

Insider Activity at Heico

In other news, Director Julie Neitzel sold 676 shares of the business’s 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Bradley K. Rowen sold 1,326 shares of the business’s 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 SEC filing for this sale provides additional information. 4.86% of the stock is owned by corporate insiders.

Heico Stock Performance

Shares of HEI opened at $344.12 on Tuesday. Heico Corporation has a 52-week low of $256.11 and a 52-week high of $369.48. The firm has a market capitalization of $48.06 billion, a PE ratio of 61.45, a P/E/G ratio of 3.71 and a beta of 1.03. The firm has a 50-day moving average price of $325.98 and a 200 day moving average price of $317.41. 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 (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 analysts’ consensus estimates 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 last year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. On average, sell-side analysts anticipate that Heico Corporation will post 5.83 earnings per share for the current fiscal year.

Heico Announces Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be issued a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date is Wednesday, July 1st. Heico’s payout ratio is presently 4.64%.

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.