9,928 Shares in Heico Corporation (NYSE:HEI) Acquired by Freedom Day Solutions LLC

Freedom Day Solutions LLC bought a new position in shares of Heico Corporation (NYSE:HEI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing 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.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC bought a new stake in Heico during the fourth quarter worth approximately $110,503,000. EULAV Asset Management raised its holdings in Heico by 1.8% during the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after purchasing an additional 8,000 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of Heico by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock valued at $88,244,000 after buying an additional 8,300 shares in the last quarter. Freestone Grove Partners LP bought a new position in shares of Heico in the fourth quarter valued at $71,030,000. Finally, Vantage Investment Partners LLC increased its holdings 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 valued at $43,324,000 after buying an additional 1,772 shares in the last quarter. Institutional investors own 27.12% of the company's stock.

Heico Trading Down 1.7%

Heico stock opened at $311.56 on Friday. The company's fifty day simple moving average is $296.21 and its 200-day simple moving average is $262.08. 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 12 month low of $216.68 and a 12 month high of $328.64. The stock has a market cap of $43.34 billion, a P/E ratio of 72.79, a P/E/G ratio of 3.97 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 analysts' consensus estimates of $1.03 by $0.09. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. Heico's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. As a group, sell-side analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This is a positive change from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a yield of 0.1%. Heico's payout ratio is currently 5.61%.

Analyst Ratings Changes

HEI has been the topic of several research reports. UBS Group upped their price target on Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Morgan Stanley upped their price target on Heico from $270.00 to $305.00 and gave the company an "equal weight" rating in a report on Wednesday, June 4th. William Blair reaffirmed an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Barclays set a $280.00 price target on Heico and gave the company an "equal weight" rating in a report on Monday, June 2nd. Finally, Bank of America upped their price target on Heico from $320.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Heico currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.36.

Insiders Place Their Bets

In other Heico news, Director Julie Neitzel sold 700 shares of the business'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 owned 418 shares of the company's stock, valued at $102,924.14. The trade was a 62.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the transaction, the director directly owned 157,197 shares of the company's stock, valued at $37,659,685.29. This represents a 24.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 86,056 shares of company stock valued at $22,699,941 in the last quarter. Insiders own 9.55% of the company's stock.

About Heico

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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