Tribune Investment Group LP Makes New $2.14 Million Investment in Heico Corporation $HEI

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 acquired a new stake in Heico Corporation (NYSE:HEI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 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 portfolio, making the stock its 29th biggest holding.

Other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC boosted its holdings in shares of Heico by 92.0% in the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of Heico during the 1st quarter worth $27,000. Costello Asset Management INC acquired a new stake in Heico in the first quarter valued at about $27,000. Banque Transatlantique SA acquired a new stake in Heico in the fourth quarter valued at about $44,000. Finally, Caitong International Asset Management Co. Ltd grew its position in Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Stock Up 7.2%

NYSE:HEI traded up $21.93 during trading hours on Tuesday, reaching $327.27. The company had a trading volume of 533,878 shares, compared to its average volume of 513,274. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $338.92. The firm has a market cap of $45.52 billion, a price-to-earnings ratio of 76.31, a P/E/G ratio of 3.85 and a beta of 1.11. The business's 50-day simple moving average is $317.65 and its two-hundred day simple moving average is $280.78. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.14. Heico had a return on equity of 15.88% and a net margin of 14.54%.The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The company's revenue for the quarter was up 15.7% compared to the same quarter last year. On average, equities analysts expect that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Increases Dividend

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

Insider Buying and Selling

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the sale, the chairman directly owned 1,253,127 shares of the company's stock, valued at $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the transaction, the director directly owned 1,500 shares in the company, valued at approximately $448,650. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,656 shares of company stock worth $28,534,115 in the last quarter. Insiders own 9.55% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HEI. Jefferies Financial Group reissued a "buy" rating on shares of Heico in a report on Monday, August 18th. Wells Fargo & Company lifted their target price on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Truist Financial increased their price target on Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Royal Bank Of Canada boosted their price target on shares of Heico from $315.00 to $335.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Barclays set a $280.00 price objective on shares of Heico and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target 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.