Heico Corporation (NYSE:HEI) Position Trimmed by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc lessened its holdings in shares of Heico Corporation (NYSE:HEI) by 20.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,540 shares of the aerospace company’s stock after selling 4,000 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Heico were worth $4,152,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HEI. EntryPoint Capital LLC bought a new stake in shares of Heico in the 4th quarter valued at approximately $220,000. Praxis Investment Management Inc. grew its stake in shares of Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company’s stock valued at $2,359,000 after buying an additional 1,760 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Heico by 19.1% in the 4th 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 in the last quarter. E Fund Management Co. Ltd. bought a new stake in shares of Heico in the 4th quarter valued at approximately $428,000. Finally, AIA Group Ltd grew its stake in shares of Heico by 26.5% in the 4th quarter. AIA Group Ltd now owns 15,662 shares of the aerospace company’s stock valued at $3,723,000 after buying an additional 3,281 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on HEI. William Blair reissued an “outperform” rating on shares of Heico in a research note on Tuesday, March 25th. Stifel Nicolaus set a $352.00 target price on Heico and gave the stock a “buy” rating in a research report on Tuesday, June 24th. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Truist Financial decreased their target price on Heico from $294.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Morgan Stanley upped their target price on Heico from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $286.00.

Heico Price Performance

Shares of HEI opened at $326.30 on Friday. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $326.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. The stock has a 50 day simple moving average of $282.82 and a 200 day simple moving average of $257.63. The firm has a market capitalization of $45.39 billion, a PE ratio of 76.24, a P/E/G ratio of 4.13 and a beta of 1.07.

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

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued 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 presently 5.14%.

Insider Activity

In other Heico news, Director Alan Schriesheim sold 50,000 shares of the firm’s stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the sale, the director now owns 157,197 shares of the company’s stock, valued at $37,659,685.29. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julie Neitzel sold 700 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the transaction, the director now owns 418 shares in the company, valued at $102,924.14. The trade was a 62.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,056 shares of company stock valued at $22,699,941. 9.55% of the stock is owned by insiders.

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.