Clear Harbor Asset Management LLC Purchases Shares of 27,015 Heico Corporation $HEI

Clear Harbor Asset Management LLC acquired a new stake in shares of Heico Corporation (NYSE:HEI) during the 2nd quarter, Holdings Channel reports. The firm acquired 27,015 shares of the aerospace company’s stock, valued at approximately $9,622,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GM Advisory Group LLC grew its stake in shares of Heico by 1.2% in the 4th quarter. GM Advisory Group LLC now owns 2,985 shares of the aerospace company’s stock valued at $966,000 after buying an additional 36 shares during the period. DSM Capital Partners LLC increased its position in Heico by 5.4% in the 1st quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company’s stock valued at $221,000 after buying an additional 41 shares in the last quarter. Mutual Advisors LLC raised its stake in Heico by 3.8% during the 4th quarter. Mutual Advisors LLC now owns 1,181 shares of the aerospace company’s stock worth $382,000 after buying an additional 43 shares during the period. Cookson Peirce & Co. Inc. raised its stake in Heico by 1.8% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,684 shares of the aerospace company’s stock worth $869,000 after buying an additional 48 shares during the period. Finally, Fortress Financial Solutions LLC boosted its holdings in Heico by 2.8% in the first quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company’s stock worth $493,000 after acquiring an additional 49 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Heico Stock Up 1.4%

HEI opened at $355.49 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The company’s 50-day moving average is $353.04 and its 200 day moving average is $320.96. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The firm has a market capitalization of $49.65 billion, a P/E ratio of 63.48, a PEG ratio of 3.64 and a beta of 1.04.

Heico (NYSE:HEI) last released its quarterly earnings results 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 net margin of 16.08% and a return on equity of 17.52%. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the previous year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. Research analysts expect that Heico Corporation will post 6.02 earnings per share for the current fiscal year.

Heico Dividend Announcement

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

Insider Buying and Selling at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HEI. Citigroup reissued a “buy” rating and issued a $429.00 price objective (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. UBS Group reaffirmed a “neutral” rating and set a $390.00 target price (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the stock a “buy” rating in a report on Wednesday, May 13th. Truist Financial raised shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the company an “equal weight” rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Heico currently has an average rating of “Moderate Buy” and an average target price of $379.56.

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.