Mediolanum International Funds Ltd Purchases 7,898 Shares of Heico Corporation $HEI

Mediolanum International Funds Ltd boosted its position in Heico Corporation (NYSE:HEI) by 119.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,529 shares of the aerospace company’s stock after purchasing an additional 7,898 shares during the period. Mediolanum International Funds Ltd’s holdings in Heico were worth $3,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Fortress Financial Solutions LLC raised its holdings in shares of 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 buying an additional 49 shares during the period. ABC Arbitrage SA purchased a new position in Heico during the 1st quarter valued at $1,995,000. Emerald Advisers LLC boosted its holdings in Heico by 11.3% during the 1st quarter. Emerald Advisers LLC now owns 2,787 shares of the aerospace company’s stock valued at $764,000 after acquiring an additional 282 shares during the period. Pittenger & Anderson Inc. grew its position in Heico by 20.2% in the 1st quarter. Pittenger & Anderson Inc. now owns 553 shares of the aerospace company’s stock valued at $152,000 after acquiring an additional 93 shares during the last quarter. Finally, Carnegie Investment Counsel grew its position in Heico by 4.6% in the 1st quarter. Carnegie Investment Counsel now owns 15,571 shares of the aerospace company’s stock valued at $4,270,000 after acquiring an additional 680 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

HEI has been the subject of several research analyst reports. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Susquehanna lifted their price objective on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Morgan Stanley set a $370.00 price objective on shares of Heico in a research report on Wednesday, July 15th. Finally, Truist Financial upgraded shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $374.56.

Heico Trading Down 0.5%

Shares of NYSE HEI opened at $341.07 on Tuesday. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $369.48. The firm has a market cap of $47.63 billion, a PE ratio of 60.90, a price-to-earnings-growth ratio of 3.55 and a beta of 1.03. The business has a fifty day simple moving average of $331.59 and a two-hundred day simple moving average of $317.81. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The business 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%.The business’s revenue was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.12 EPS. 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 issued a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s dividend payout ratio is presently 4.64%.

Insider Buying and Selling

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

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.