Artemis Investment Management LLP Acquires Shares of 28,489 Heico Corporation (NYSE:HEI)

Artemis Investment Management LLP purchased a new stake in shares of Heico Corporation (NYSE:HEI) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 28,489 shares of the aerospace company’s stock, valued at approximately $7,612,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HEI. Fisher Asset Management LLC increased its position in shares of Heico by 19.1% during the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company’s stock valued at $98,791,000 after buying an additional 66,583 shares during the period. Williamson Legacy Group LLC increased its position in shares of Heico by 11.2% during the fourth quarter. Williamson Legacy Group LLC now owns 3,104 shares of the aerospace company’s stock valued at $738,000 after buying an additional 313 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Heico during the fourth quarter valued at about $135,000. Snider Financial Group increased its position in shares of Heico by 0.6% during the fourth quarter. Snider Financial Group now owns 11,438 shares of the aerospace company’s stock valued at $2,719,000 after buying an additional 71 shares during the period. Finally, Cookson Peirce & Co. Inc. increased its position in shares of Heico by 59.8% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 3,056 shares of the aerospace company’s stock valued at $727,000 after buying an additional 1,144 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on HEI shares. Wall Street Zen upgraded shares of Heico from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Morgan Stanley boosted their price target on shares of Heico from $270.00 to $305.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 4th. Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the company a “buy” rating in a research report on Tuesday. Barclays set a $280.00 price target on shares of Heico and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Finally, UBS Group boosted their price objective on shares of Heico from $264.00 to $306.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $286.00.

Insider Transactions at Heico

In other news, Director Frank J. Schwitter sold 356 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the transaction, the director now owns 1,500 shares in the company, valued at approximately $448,650. This represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Alan Schriesheim sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the transaction, the director now owns 157,197 shares in the company, valued at approximately $37,659,685.29. This trade represents a 24.13% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 86,056 shares of company stock worth $22,699,941. Corporate insiders own 9.55% of the company’s stock.

Heico Trading Up 1.6%

NYSE:HEI opened at $326.30 on Friday. Heico Corporation has a one year low of $216.68 and a one year high of $326.80. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. The company’s 50-day simple moving average is $282.82 and its 200 day simple moving average is $257.64. The firm has a market capitalization of $45.39 billion, a P/E ratio of 76.24, a PEG ratio of 4.07 and a beta of 1.07.

Heico (NYSE:HEI) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. The business’s revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.12 dividend. This represents a dividend yield of 0.1%. The ex-dividend date is Tuesday, July 1st. This is an increase from Heico’s previous semi-annual dividend of $0.11. Heico’s dividend payout ratio is currently 5.14%.

Heico Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.