MinichMacGregor Wealth Management LLC Purchases 4,662 Shares of Heico Corporation $HEI

MinichMacGregor Wealth Management LLC grew its position in Heico Corporation (NYSE:HEI) by 14.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 36,613 shares of the aerospace company’s stock after purchasing an additional 4,662 shares during the quarter. Heico comprises 1.8% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its 25th biggest holding. MinichMacGregor Wealth Management LLC’s holdings in Heico were worth $10,040,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. bought a new position in Heico in the first quarter valued at approximately $8,881,000. Verde Capital Management acquired a new position in Heico during the first quarter valued at approximately $1,204,000. CPC Advisors LLC lifted its stake in Heico by 208.4% during the first quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company’s stock worth $2,519,000 after purchasing an additional 6,208 shares during the last quarter. World Investment Advisors boosted its holdings in shares of Heico by 10.2% in the 4th quarter. World Investment Advisors now owns 1,760 shares of the aerospace company’s stock valued at $570,000 after purchasing an additional 163 shares in the last quarter. Finally, Bayban acquired a new stake in shares of Heico in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Stock Up 0.4%

Shares of NYSE:HEI opened at $335.48 on Thursday. Heico Corporation has a 52-week low of $256.11 and a 52-week high of $361.69. The company has a market capitalization of $46.85 billion, a PE ratio of 59.91, a price-to-earnings-growth ratio of 3.56 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The company has a fifty day moving average of $306.04 and a 200-day moving average of $313.95.

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

Heico Dividend Announcement

The company also recently announced a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a $0.13 dividend. The ex-dividend date is Wednesday, July 1st. This represents a yield of 8.0%. Heico’s dividend payout ratio (DPR) is currently 4.29%.

Insider Transactions at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Julie Neitzel sold 676 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total value of $150,748.00. The disclosure for this sale is available in the SEC filing. Company insiders own 4.86% of the company’s stock.

Wall Street Analyst Weigh In

HEI has been the subject of a number of research analyst reports. BNP Paribas Exane raised Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. Wells Fargo & Company set a $350.00 price objective on Heico and gave the company an “equal weight” rating in a research note on Monday, June 1st. Truist Financial upgraded Heico to a “strong-buy” rating in a research report on Friday, May 1st. Zacks Research raised Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Rothschild & Co Redburn set a $360.00 target price on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, May 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $371.62.

Heico 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.