Alpine Woods Capital Investors LLC Makes New $3.19 Million Investment in Heico Corporation $HEI

Key Points

• Alpine Woods Capital Investors initiated a $3.19 million position in Heico during the second quarter by purchasing 8,953 shares. Institutional investors and hedge funds collectively own 27.12% of the company.
• Heico reported strong quarterly results, with earnings per share of $1.66 beating estimates of $1.33 and revenue rising 25.3% year over year to $1.38 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $376.69, while HEI recently traded at $368.28. Citigroup raised its target to $429, although Wells Fargo maintained an “equal weight” rating.

Alpine Woods Capital Investors LLC bought a new position in shares of Heico Corporation (NYSE:HEI - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,953 shares of the aerospace company's stock, valued at approximately $3,189,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. IFC & Insurance Marketing Inc. bought a new position in Heico during the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its position in Heico by 1,000.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. bought a new stake in Heico in the fourth quarter worth about $32,000. Miller Capital Partners Inc. acquired a new stake in Heico in the 4th quarter valued at about $70,000. Finally, BNP Paribas bought a new position in shares of Heico during the 4th quarter valued at about $79,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Trading Down 0.8%

NYSE:HEI opened at $368.28 on Wednesday. The stock's 50-day moving average is $351.47 and its two-hundred day moving average is $320.35. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The stock has a market cap of $51.43 billion, a PE ratio of 65.76, a price-to-earnings-growth ratio of 3.88 and a beta of 1.04. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm's quarterly revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. As a group, equities research analysts forecast that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico's payout ratio is currently 4.64%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HEI. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the stock an "equal weight" rating in a research note on Monday, June 1st. 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. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a research report on Saturday. Citigroup reiterated a "buy" rating and set a $429.00 price objective (up from $410.00) on shares of Heico in a research report on Thursday, August 13th. Finally, Truist Financial raised Heico to a "strong-buy" rating in a research note on Friday, May 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $376.69.

Insider Activity at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.86% of the company's stock.

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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