3,273 Shares in Heico Corporation $HEI Purchased by Chancellor Financial Group WB LP

Key Points

• Chancellor Financial Group WB LP acquired 3,273 Heico shares during the second quarter, worth approximately $1.17 million. Institutional investors currently own 27.12% of the company.
• Analyst sentiment is generally positive: Heico has a consensus rating of “Moderate Buy” and an average price target of $376.69, with several firms recently raising ratings or targets.
• Heico reported strong quarterly results, with earnings per share of $1.66 and revenue of $1.38 billion, exceeding estimates; revenue increased 25.3% year over year.

Chancellor Financial Group WB LP bought a new position in Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,273 shares of the aerospace company's stock, valued at approximately $1,166,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Diamant Asset Management Inc. boosted its position in shares of Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP boosted its holdings in Heico by 0.6% in the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company's stock valued at $180,347,000 after purchasing an additional 3,166 shares during the period. Fisher Asset Management LLC grew its position in shares of Heico by 12.1% during the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company's stock valued at $105,615,000 after purchasing an additional 35,288 shares in the last quarter. Munro Partners increased its holdings in shares of Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock worth $92,190,000 after purchasing an additional 87,265 shares during the period. Finally, CI Investments Inc. increased its holdings in shares of Heico by 40.0% in the fourth quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company's stock worth $53,080,000 after purchasing an additional 46,846 shares during the period. 27.12% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Susquehanna boosted their target price on Heico from $321.00 to $365.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Truist Financial upgraded Heico to a "strong-buy" rating in a research report on Friday, May 1st. UBS Group reissued 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. Zacks Research upgraded shares of Heico from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $376.69.

Heico Price Performance

HEI opened at $368.28 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $51.43 billion, a P/E ratio of 65.76, a PEG ratio of 3.88 and a beta of 1.04. The stock has a 50-day moving average price of $351.47 and a 200-day moving average price of $320.35. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.Heico's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period last year, the firm posted $1.12 EPS. Equities analysts predict that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Dividend Announcement

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

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company's stock in a transaction on Wednesday, June 10th. The shares were 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 accessible through the SEC website. Company insiders own 4.86% of the company's stock.

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.

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