Jefferies Financial Group Inc. Takes $488,000 Position in Heico Corporation (NYSE:HEI)

Jefferies Financial Group Inc. bought a new stake in shares of Heico Corporation (NYSE:HEI) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,828 shares of the aerospace company’s stock, valued at approximately $488,000.

A number of other hedge funds also recently bought and sold shares of the company. Artemis Investment Management LLP bought a new position in shares of Heico during the 1st quarter valued at $7,612,000. Freedom Day Solutions LLC bought a new stake in shares of Heico in the first quarter valued at approximately $2,653,000. Praxis Investment Management Inc. grew its position in Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company’s stock worth $2,359,000 after purchasing an additional 1,760 shares during the last quarter. Vantage Investment Partners LLC increased its stake in Heico by 1.1% during the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company’s stock valued at $43,324,000 after acquiring an additional 1,772 shares during the period. Finally, Eos Management L.P. raised its stake in shares of Heico by 117.0% in the first quarter. Eos Management L.P. now owns 15,534 shares of the aerospace company’s stock valued at $4,151,000 after purchasing an additional 8,376 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Heico

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares in the company, valued at $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director directly owned 1,500 shares of the company’s stock, valued at $448,650. This represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,656 shares of company stock valued at $28,534,115. Insiders own 9.55% of the company’s stock.

Heico Price Performance

Shares of NYSE:HEI opened at $316.18 on Thursday. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92. The stock’s fifty day simple moving average is $315.45 and its two-hundred day simple moving average is $273.58. The stock has a market cap of $43.98 billion, a PE ratio of 73.87, a price-to-earnings-growth ratio of 3.90 and a beta of 1.11. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI) last announced its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the previous 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 business also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a dividend yield of 10.0%. This is an increase from Heico’s previous semi-annual dividend of $0.11. Heico’s payout ratio is presently 5.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HEI shares. Stifel Nicolaus set a $352.00 target price on shares of Heico and gave the company a “buy” rating in a research note on Tuesday, June 24th. Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Truist Financial boosted their price target on shares of Heico from $323.00 to $352.00 and gave the company a “buy” rating in a report on Friday, July 11th. UBS Group increased their target price on Heico from $264.00 to $306.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Finally, Bank of America upped their price objective on Heico from $320.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Heico has an average rating of “Moderate Buy” and a consensus target price of $301.45.

Heico 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.