ABC Arbitrage SA Acquires New Stake in Heico Corporation $HEI

ABC Arbitrage SA bought a new position in Heico Corporation (NYSE:HEI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,276 shares of the aerospace company's stock, valued at approximately $1,995,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Diamant Asset Management Inc. grew its holdings in Heico by 25,698.9% during the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock worth $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP boosted its holdings in Heico by 0.6% during the third quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company's stock worth $180,347,000 after buying an additional 3,166 shares in the last quarter. Fisher Asset Management LLC grew its position in Heico by 12.1% during the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company's stock worth $105,615,000 after buying an additional 35,288 shares during the period. Munro Partners lifted its position in shares of Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock valued at $92,190,000 after acquiring an additional 87,265 shares during the period. Finally, CI Investments Inc. boosted its stake in shares of Heico by 40.0% during the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company's stock worth $53,080,000 after acquiring an additional 46,846 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Heico news, Director Julie Neitzel sold 676 shares of the business's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Bradley K. Rowen sold 1,326 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The SEC filing for this sale provides additional information. 4.86% of the stock is currently owned by company insiders.

Heico Stock Down 1.9%

Shares of NYSE HEI opened at $344.12 on Tuesday. The firm has a market cap of $48.06 billion, a P/E ratio of 61.45, a price-to-earnings-growth ratio of 3.71 and a beta of 1.03. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $369.48. The firm's 50 day moving average price is $325.98 and its 200 day moving average price is $317.41.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts' consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.12 EPS. As a group, sell-side analysts anticipate that Heico Corporation will post 5.83 earnings per share for the current year.

Heico Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date is Wednesday, July 1st. Heico's dividend payout ratio (DPR) is 4.64%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Truist Financial raised Heico to a "strong-buy" rating in a report on Friday, May 1st. Citigroup reiterated a "buy" rating and issued a $410.00 price objective (up from $403.00) on shares of Heico in a research report on Wednesday, July 1st. UBS Group restated a "neutral" rating and set a $390.00 target price (up from $371.00) on shares of Heico in a report on Monday, June 1st. Royal Bank Of Canada raised their price objective on shares of Heico from $375.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. Finally, Weiss Ratings cut Heico from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, April 22nd. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $372.06.

Heico Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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