8,000 Shares in Heico Corporation $HEI Acquired by Tribune Investment Group LP

Key Points

• Tribune Investment Group LP has purchased 8,000 shares of Heico Corporation, valued at approximately $2.14 million, making up 0.9% of its holdings.
• Insider selling was significant, with Chairman Laurans A. Mendelson selling 56,300 shares for nearly $18 million, and Director Alan Schriesheim selling 35,000 shares for over $10 million.
• Equities analysts have set a consensus target price for Heico of $301.45, with ratings ranging from a "Buy" to a "Hold."

Tribune Investment Group LP purchased a new position in shares of Heico Corporation (NYSE:HEI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,000 shares of the aerospace company's stock, valued at approximately $2,138,000. Heico comprises about 0.9% of Tribune Investment Group LP's investment portfolio, making the stock its 29th largest holding.

Several other hedge funds have also added to or reduced their stakes in the company. Capital Fund Management S.A. lifted its holdings in Heico by 79.8% during the 1st quarter. Capital Fund Management S.A. now owns 23,959 shares of the aerospace company's stock worth $6,402,000 after purchasing an additional 10,635 shares during the last quarter. EntryPoint Capital LLC raised its holdings in Heico by 120.1% in the 1st quarter. EntryPoint Capital LLC now owns 2,038 shares of the aerospace company's stock valued at $545,000 after acquiring an additional 1,112 shares in the last quarter. Groupama Asset Managment raised its holdings in Heico by 0.5% in the 1st quarter. Groupama Asset Managment now owns 14,438 shares of the aerospace company's stock valued at $3,841,000 after acquiring an additional 71 shares in the last quarter. Andina Capital Management LLC acquired a new position in Heico in the 1st quarter valued at $485,000. Finally, Quantbot Technologies LP acquired a new position in Heico in the 1st quarter valued at $5,518,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the sale, the chairman owned 1,253,127 shares in the company, valued at $400,311,420.15. This represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total value of $10,442,600.00. Following the sale, the director owned 122,197 shares in the company, valued at approximately $36,458,696.92. The trade was a 22.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,656 shares of company stock worth $28,534,115. Insiders own 9.55% of the company's stock.

Heico Price Performance

HEI stock traded down $4.0530 during midday trading on Monday, reaching $305.5370. 609,585 shares of the stock were exchanged, compared to its average volume of 511,102. The company has a fifty day moving average price of $317.63 and a 200 day moving average price of $280.28. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The stock has a market capitalization of $42.50 billion, a PE ratio of 71.39, a P/E/G ratio of 3.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%.The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $0.88 EPS. The business's revenue was up 14.9% on a year-over-year basis. As a group, analysts expect that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.12 dividend. This is a boost from Heico's previous semi-annual dividend of $0.11. The ex-dividend date was Tuesday, July 1st. This represents a dividend yield of 10.0%. Heico's dividend payout ratio is presently 5.61%.

Wall Street Analyst Weigh In

HEI has been the subject of several analyst reports. Truist Financial lifted their price objective on Heico from $323.00 to $352.00 and gave the company a "buy" rating in a report on Friday, July 11th. Zacks Research raised Heico to a "hold" rating in a report on Monday, August 11th. Royal Bank Of Canada lifted their price objective on Heico from $315.00 to $335.00 and gave the company an "outperform" rating in a report on Friday. Wells Fargo & Company lifted their price objective on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Finally, Morgan Stanley lifted their price objective on Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a report on Thursday, July 17th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, Heico currently has a consensus rating of "Moderate Buy" and an average target price of $307.18.

Heico Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.