3,600 Shares in Heico Corporation $HEI Bought by SBI Okasan Asset Management Co.Ltd.

Key Points

• SBI Okasan Asset Management bought 3,600 HEICO shares worth approximately $1.26 million, while institutional investors collectively own 27.12% of the company.
• HEICO reported quarterly revenue of $1.38 billion, up 25.3% year over year, and earnings of $1.66 per share—beating analysts’ estimate of $1.33.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $376.69, close to the stock’s reported $371.83 price; HEICO also paid a $0.13-per-share dividend.

SBI Okasan Asset Management Co.Ltd. bought a new position in Heico Corporation (NYSE:HEI - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,600 shares of the aerospace company's stock, valued at approximately $1,262,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFC & Insurance Marketing Inc. bought a new position in shares of Heico during the fourth quarter worth about $26,000. CBIZ Investment Advisory Services LLC lifted its position in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. acquired a new position in Heico during the 4th quarter valued at about $32,000. Miller Capital Partners Inc. acquired a new position in Heico during the 4th quarter valued at about $70,000. Finally, BNP Paribas bought a new position in Heico in the 4th quarter worth about $79,000. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Stock Down 0.3%

HEI stock opened at $371.83 on Friday. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $376.86. The company has a market capitalization of $51.93 billion, a price-to-earnings ratio of 66.40, a price-to-earnings-growth ratio of 3.87 and a beta of 1.04. The firm's 50-day moving average is $348.81 and its two-hundred day moving average is $319.58. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the business posted $1.12 EPS. The business's revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts forecast that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid 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 dividend payout ratio (DPR) is presently 4.64%.

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.86% of the company's stock.

Analyst Ratings Changes

HEI has been the topic of several analyst reports. Truist Financial upgraded shares of Heico to a "strong-buy" rating in a research note on Friday, May 1st. Susquehanna increased their price objective on Heico from $321.00 to $365.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the company a "buy" rating in a research report on Wednesday, May 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 note on Monday, June 1st. Finally, Wells Fargo & Company set a $350.00 price target on Heico and gave the stock an "equal weight" rating in a research report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $376.69.

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.

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