Munro Partners Increases Stake in Heico Corporation $HEI

Munro Partners lifted its stake in shares of Heico Corporation (NYSE:HEI) by 44.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 284,898 shares of the aerospace company’s stock after buying an additional 87,265 shares during the quarter. Heico comprises 2.4% of Munro Partners’ portfolio, making the stock its 17th largest position. Munro Partners’ holdings in Heico were worth $92,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. IFC & Insurance Marketing Inc. purchased a new stake in Heico in the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC grew its holdings in Heico by 1,000.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the period. V Square Quantitative Management LLC purchased a new stake in Heico in the fourth quarter worth about $37,000. FNY Investment Advisers LLC grew 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 purchasing an additional 138 shares during the period. Finally, Flagship Harbor Advisors LLC purchased a new stake in Heico in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HEI. Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Susquehanna upped their price objective on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Royal Bank Of Canada upped their price objective on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Rothschild & Co Redburn set a $360.00 price objective on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, May 13th. Finally, BNP Paribas Exane upgraded shares of Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $371.63.

Insider Buying and Selling

In other news, Director Julie Neitzel sold 676 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.86% of the company’s stock.

Heico Trading Up 1.3%

NYSE:HEI opened at $336.02 on Tuesday. The company’s 50 day moving average price is $298.89 and its 200-day moving average price is $312.84. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $361.69. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. The stock has a market cap of $46.93 billion, a price-to-earnings ratio of 60.00, a PEG ratio of 3.53 and a beta of 1.03.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. On average, equities research analysts forecast that Heico Corporation will post 5.78 earnings per share for the current fiscal year.

Heico Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st will be issued a dividend of $0.13 per share. The ex-dividend date is Wednesday, July 1st. This represents a dividend yield of 8.0%. Heico’s dividend payout ratio is presently 4.29%.

About Heico

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.