Ironvine Capital Partners LLC Sells 234,917 Shares of Heico Corporation $HEI

Ironvine Capital Partners LLC cut its holdings in shares of Heico Corporation (NYSE:HEI) by 87.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,868 shares of the aerospace company’s stock after selling 234,917 shares during the period. Heico accounts for 1.1% of Ironvine Capital Partners LLC’s portfolio, making the stock its 26th biggest position. Ironvine Capital Partners LLC’s holdings in Heico were worth $12,063,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Maridea Wealth Management LLC bought a new stake in shares of Heico during the 2nd quarter valued at about $1,128,000. Indivisible Partners bought a new stake in Heico during the 4th quarter valued at approximately $5,883,000. Silvant Capital Management LLC bought a new stake in Heico during the 2nd quarter valued at approximately $9,385,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Heico during the 4th quarter worth approximately $8,395,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Heico in the second quarter worth $1,262,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Heico Stock Performance

NYSE HEI opened at $324.63 on Wednesday. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The business has a 50 day simple moving average of $353.63 and a two-hundred day simple moving average of $321.61. The stock has a market capitalization of $45.34 billion, a PE ratio of 54.02, a P/E/G ratio of 3.23 and a beta of 1.04.

Heico (NYSE:HEI) last posted its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 EPS. On average, research analysts predict that Heico Corporation will post 6.13 EPS for the current fiscal year.

Heico Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s payout ratio is presently 4.33%.

Analyst Ratings Changes

A number of brokerages have recently commented on HEI. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft set a $421.00 price target on shares of Heico and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Finally, Stifel Nicolaus set a $410.00 price target on Heico in a research report on Thursday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Heico has a consensus rating of “Buy” and an average target price of $396.07.

Insider Activity

In related news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were 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 the SEC website. 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.