Allianz Asset Management GmbH Sells 76,862 Shares of Heico Corporation $HEI

Allianz Asset Management GmbH trimmed its stake in Heico Corporation (NYSE:HEI - Free Report) by 82.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,391 shares of the aerospace company's stock after selling 76,862 shares during the period. Allianz Asset Management GmbH's holdings in Heico were worth $5,838,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Diamant Asset Management Inc. lifted its position in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after buying an additional 760,687 shares in the last quarter. Two Sigma Investments LP grew its stake in shares of Heico by 0.6% during the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company's stock valued at $180,347,000 after acquiring an additional 3,166 shares during the period. Fisher Asset Management LLC increased its holdings in Heico by 12.1% in the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company's stock worth $105,615,000 after acquiring an additional 35,288 shares in the last quarter. Munro Partners increased its holdings in Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock worth $92,190,000 after acquiring an additional 87,265 shares in the last quarter. Finally, Weitz Investment Management Inc. bought a new stake in Heico during the 2nd quarter worth approximately $52,737,000. 27.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on HEI shares. Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the company a "buy" rating in a report on Wednesday, August 26th. Royal Bank Of Canada increased 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. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 1st. UBS Group restated a "neutral" rating and set a $396.00 target price (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. Finally, Rothschild & Co Redburn set a $360.00 target price on shares of Heico and gave the stock a "buy" rating in a report on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $395.38.

Heico Price Performance

Shares of NYSE:HEI opened at $316.15 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The firm has a fifty day moving average price of $351.37 and a 200 day moving average price of $321.20. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The firm has a market cap of $44.18 billion, a price-to-earnings ratio of 52.60, a P/E/G ratio of 2.76 and a beta of 1.04.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. Heico's revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.26 EPS. As a group, sell-side analysts expect that Heico Corporation will post 6.21 earnings per share for the current fiscal year.

Heico Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico's payout ratio is 4.33%.

About Heico

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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