Allianz Asset Management GmbH Has $240,000 Position in Heico Corporation (NYSE:HEI)

Key Points

• Allianz Asset Management GmbH reduced its stake in Heico Corporation by 56.7%, now holding 899 shares valued at approximately $240,000.
• Heico Corporation reported a 14.9% increase in revenue year-over-year, posting $1.10 billion for the quarter and an EPS of $1.12, exceeding analyst expectations.
• The company has declared a semi-annual dividend of $0.12 per share, marking an increase from the previous $0.11, with a current yield of 10.0%.

Allianz Asset Management GmbH lowered its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 56.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 899 shares of the aerospace company's stock after selling 1,176 shares during the quarter. Allianz Asset Management GmbH's holdings in Heico were worth $240,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HEI. NBC Securities Inc. acquired a new position in Heico during the first quarter valued at approximately $27,000. Banque Transatlantique SA acquired a new position in Heico during the fourth quarter valued at approximately $44,000. Atwood & Palmer Inc. acquired a new position in Heico during the first quarter valued at approximately $80,000. TD Private Client Wealth LLC grew its holdings in Heico by 37.5% during the first quarter. TD Private Client Wealth LLC now owns 458 shares of the aerospace company's stock valued at $122,000 after purchasing an additional 125 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its holdings in Heico by 252.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company's stock valued at $158,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Stock Performance

Shares of HEI opened at $325.44 on Monday. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $328.64. The firm has a fifty day simple moving average of $312.82 and a 200 day simple moving average of $272.30. The stock has a market capitalization of $45.27 billion, a price-to-earnings ratio of 76.04, a PEG ratio of 4.05 and a beta of 1.11. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 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 business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm's revenue was up 14.9% on a year-over-year basis. Research analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given 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 of this dividend was Tuesday, July 1st. Heico's payout ratio is currently 5.61%.

Insiders Place Their Bets

In other Heico news, Director Alan Schriesheim sold 35,000 shares of the company's 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 sale, the director directly owned 122,197 shares of the company's stock, valued at approximately $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the sale, the director directly owned 1,500 shares in the company, valued at $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,656 shares of company stock valued at $28,534,115. 9.55% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HEI has been the subject of a number of analyst reports. Bank of America boosted their price objective on shares of Heico from $320.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Wall Street Zen lowered shares of Heico from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Truist Financial lifted their price target on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Morgan Stanley lifted their price target on shares of Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Finally, Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the company a "buy" rating in a research note on Tuesday, June 24th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $301.45.

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.

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