8,026 Shares in Heico Corporation $HEI Acquired by Aviso Financial Inc.

Key Points

• Aviso Financial Inc. has acquired 8,026 shares of Heico Corporation, valued at approximately $2.14 million, signaling increased institutional interest in the aerospace company.
• Insiders sold a total of 91,656 shares in the last 90 days, including a significant sale by Chairman Laurans A. Mendelson, who sold 56,300 shares for $17.99 million, resulting in a 4.30% decrease in his ownership.
• Analysts have mixed sentiments about Heico, with eight rating it a buy and seven rating it hold, while price targets vary up to $355.

Aviso Financial Inc. acquired a new position in Heico Corporation (NYSE:HEI - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,026 shares of the aerospace company's stock, valued at approximately $2,144,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Artemis Investment Management LLP acquired a new position in shares of Heico in the first quarter worth approximately $7,612,000. Baker Avenue Asset Management LP acquired a new position in shares of Heico in the first quarter worth approximately $345,000. Freedom Day Solutions LLC acquired a new position in shares of Heico in the first quarter worth approximately $2,653,000. Praxis Investment Management Inc. lifted its stake in shares of Heico by 24.9% in the first quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock worth $2,359,000 after acquiring an additional 1,760 shares during the period. Finally, Vantage Investment Partners LLC lifted its stake in shares of Heico by 1.1% in the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after acquiring an additional 1,772 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction on 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 completion of the sale, the chairman owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was 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 of the company's stock, valued at $36,458,696.92. This trade represents a 22.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,656 shares of company stock worth $28,534,115. 9.55% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HEI has been the topic of a number of recent analyst reports. Wall Street Zen lowered Heico from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial boosted 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. Morgan Stanley boosted their price target on Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $352.00 price target on Heico and gave the company a "buy" rating in a research note on Tuesday, June 24th. Finally, Bank of America boosted their price target on Heico from $320.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Heico has an average rating of "Moderate Buy" and an average target price of $301.45.

Heico Price Performance

Shares of NYSE:HEI opened at $307.73 on Monday. 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 Corporation has a twelve month low of $216.68 and a twelve month high of $338.92. The stock's 50 day moving average is $317.19 and its 200-day moving average is $277.80. The firm has a market capitalization of $42.81 billion, a price-to-earnings ratio of 71.90, a PEG ratio of 3.83 and a beta of 1.11.

Heico (NYSE:HEI - Get Free Report) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping 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 company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. Heico's revenue for the quarter was up 14.9% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Tuesday, July 1st were issued a dividend of $0.12 per share. This represents a yield of 10.0%. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date was Tuesday, July 1st. Heico's dividend payout ratio is currently 5.61%.

Heico 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.

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