Freedom Day Solutions LLC Buys New Shares in Heico Corporation (NYSE:HEI)

Freedom Day Solutions LLC bought a new position in Heico Corporation (NYSE:HEI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,928 shares of the aerospace company's stock, valued at approximately $2,653,000.

A number of other institutional investors also recently modified their holdings of the stock. Bain Capital Public Equity Management II LLC bought a new stake in shares of Heico during the fourth quarter worth approximately $110,503,000. Freestone Grove Partners LP bought a new stake in shares of Heico during the fourth quarter worth approximately $71,030,000. Squarepoint Ops LLC raised its stake in shares of Heico by 2,203.0% during the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock worth $20,691,000 after buying an additional 83,251 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Heico during the fourth quarter worth approximately $16,578,000. Finally, Balyasny Asset Management L.P. raised its stake in shares of Heico by 81.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 143,579 shares of the aerospace company's stock worth $34,134,000 after buying an additional 64,424 shares during the last quarter. 27.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HEI has been the subject of a number of recent research reports. Bank of America boosted their price target on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Truist Financial boosted their price target on shares of Heico from $323.00 to $352.00 and gave the stock a "buy" rating in a research note on Friday. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley boosted their price target on shares of Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 4th. Finally, Barclays set a $280.00 price target on shares of Heico and gave the stock an "equal weight" rating in a research note on Monday, June 2nd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $299.18.

Insider Transactions at Heico

In related news, Director Alan Schriesheim sold 35,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the transaction, the director owned 122,197 shares in the company, valued at approximately $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the transaction, the director directly owned 418 shares of the company's stock, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,056 shares of company stock valued at $22,699,941 over the last quarter. Corporate insiders own 9.55% of the company's stock.

Heico Trading Up 2.2%

NYSE:HEI traded up $7.00 during trading hours on Monday, hitting $321.81. The stock had a trading volume of 460,402 shares, compared to its average volume of 483,397. The business's 50 day moving average is $297.26 and its 200-day moving average is $262.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. Heico Corporation has a one year low of $216.68 and a one year high of $328.64. The company has a market cap of $44.76 billion, a price-to-earnings ratio of 75.19, a P/E/G ratio of 3.92 and a beta of 1.08.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The firm's revenue was up 14.9% compared to the same quarter last year. Sell-side analysts anticipate that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, July 1st. This represents a dividend yield of 0.1%. 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.