Chancellor Financial Group WB LP Makes New $1.17 Million Investment in Heico Corporation $HEI

Chancellor Financial Group WB LP acquired a new stake in shares of Heico Corporation (NYSE:HEI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,273 shares of the aerospace company’s stock, valued at approximately $1,166,000.

Several other hedge funds also recently made changes to their positions in the company. IFC & Insurance Marketing Inc. bought a new position in shares of Heico during the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC grew its position in shares of Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after buying an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. bought a new position in Heico in the 4th quarter worth $32,000. Miller Capital Partners Inc. bought a new position in Heico in the fourth quarter worth about $70,000. Finally, BNP Paribas bought a new stake in Heico during the 4th quarter valued at approximately $79,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction dated 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 Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wells Fargo & Company set a $350.00 price objective on Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st. Rothschild & Co Redburn set a $360.00 price objective on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, May 13th. Jefferies Financial Group reissued a “buy” rating and issued a $425.00 target price on shares of Heico in a research report on Thursday, August 13th. UBS Group restated a “neutral” rating and set a $390.00 target price (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Finally, Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and an average price target of $376.69.

Heico Stock Down 0.8%

HEI opened at $368.28 on Wednesday. The firm’s 50 day simple moving average is $351.47 and its two-hundred day simple moving average is $320.35. The company has a market capitalization of $51.43 billion, a PE ratio of 65.76, a PEG ratio of 3.88 and a beta of 1.04. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53.

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

Heico Dividend Announcement

The business also recently declared 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 currently 4.64%.

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.