Heico Corporation $HEI Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its holdings in Heico Corporation (NYSE:HEI) by 76.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 748 shares of the aerospace company’s stock after selling 2,369 shares during the quarter. NewEdge Wealth LLC’s holdings in Heico were worth $205,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Indivisible Partners bought a new stake in shares of Heico in the fourth quarter valued at about $5,883,000. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of Heico in the 4th quarter valued at approximately $8,395,000. Verde Capital Management bought a new position in shares of Heico in the 1st quarter valued at about $1,204,000. CPC Advisors LLC increased its position 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 buying an additional 6,208 shares during the last quarter. Finally, Wendell David Associates Inc. raised its stake in Heico by 54.5% in the 1st quarter. Wendell David Associates Inc. now owns 10,189 shares of the aerospace company’s stock valued at $2,794,000 after acquiring an additional 3,595 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HEI. Susquehanna raised their price objective on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Royal Bank Of Canada increased their target price on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the company a “buy” rating in a research report on Wednesday, May 13th. Truist Financial upgraded Heico to a “strong-buy” rating in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.56.

Heico Stock Down 0.0%

NYSE HEI opened at $355.06 on Friday. The business has a fifty day moving average price of $340.49 and a two-hundred day moving average price of $318.37. The stock has a market capitalization of $49.59 billion, a PE ratio of 63.40, a PEG ratio of 3.68 and a beta of 1.03. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $369.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm earned $1.12 EPS. Heico’s revenue was up 25.3% on a year-over-year basis. Equities analysts expect that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s payout ratio is currently 4.64%.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the business’s 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.86% of the company’s stock.

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.