K.J. Harrison & Partners Inc Acquires New Position in Heico Corporation $HEI

K.J. Harrison & Partners Inc purchased a new stake in Heico Corporation (NYSE:HEI) in the second quarter, according to its most recent filing with the SEC. The fund purchased 12,000 shares of the aerospace company’s stock, valued at approximately $4,274,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HEI. Acadian Asset Management LLC raised its position in shares of Heico by 216.7% during the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 945 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in shares of Heico during the second quarter valued at about $2,338,000. PDT Partners LLC raised its position in shares of Heico by 52.6% during the 2nd quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after buying an additional 13,443 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Heico by 10.8% during the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after purchasing an additional 468 shares in the last quarter. Finally, IHT Wealth Management LLC lifted its holdings in shares of Heico by 2.1% in the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after buying an additional 117 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on HEI shares. Zacks Research raised shares of Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Jefferies Financial Group reaffirmed a “buy” rating and set a $425.00 target price on shares of Heico in a research note on Thursday. UBS Group reiterated a “neutral” rating and set a $390.00 price objective (up from $371.00) on shares of Heico in a report on Monday, June 1st. Royal Bank Of Canada raised their price target on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Finally, Susquehanna boosted their target price on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $376.69.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.86% of the stock is owned by company insiders.

Heico Stock Down 1.1%

NYSE HEI opened at $370.69 on Tuesday. The firm has a 50-day simple moving average of $350.63 and a 200 day simple moving average of $320.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86. The stock has a market cap of $51.77 billion, a PE ratio of 66.19, a PEG ratio of 3.88 and a beta of 1.04.

Heico (NYSE:HEI) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter last year, the firm earned $1.12 EPS. Heico’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, research analysts forecast that Heico Corporation will post 5.95 EPS for the current year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is presently 4.64%.

Heico Company 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.