28,489 Shares in Heico Corporation (NYSE:HEI) Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP acquired a new position in shares of Heico Corporation (NYSE:HEI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,489 shares of the aerospace company's stock, valued at approximately $7,612,000.

A number of other institutional investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC raised its position in Heico by 5.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company's stock worth $231,000 after purchasing an additional 46 shares during the last quarter. Moran Wealth Management LLC lifted its holdings in Heico by 1.9% in the fourth quarter. Moran Wealth Management LLC now owns 2,687 shares of the aerospace company's stock valued at $639,000 after buying an additional 51 shares during the period. United Capital Financial Advisors LLC raised its position in shares of Heico by 5.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock valued at $248,000 after acquiring an additional 56 shares during the last quarter. PFG Advisors boosted its position in shares of Heico by 0.8% in the 4th quarter. PFG Advisors now owns 8,960 shares of the aerospace company's stock worth $2,130,000 after purchasing an additional 70 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its holdings in Heico by 1.2% in the fourth quarter. Benjamin Edwards Inc. now owns 5,822 shares of the aerospace company's stock valued at $1,384,000 after purchasing an additional 70 shares during the last quarter. 27.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on HEI. Barclays set a $280.00 price target on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Truist Financial lowered their price target on Heico from $294.00 to $277.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a report on Friday, June 6th. UBS Group boosted their price objective on Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Finally, Morgan Stanley raised their target price on shares of Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 4th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $286.00.

Heico Stock Performance

NYSE:HEI traded down $6.11 on Tuesday, hitting $321.77. The company's stock had a trading volume of 348,903 shares, compared to its average volume of 479,808. Heico Corporation has a one year low of $216.68 and a one year high of $330.85. The firm has a market capitalization of $44.76 billion, a P/E ratio of 75.07, a price-to-earnings-growth ratio of 4.13 and a beta of 1.07. The stock has a fifty day moving average of $284.63 and a two-hundred day moving average of $258.14. 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 released its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The company's revenue for the quarter was up 14.9% compared to the same quarter last year. Research analysts predict that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a dividend yield of 0.1%. This is a positive change from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio (DPR) is 5.14%.

Insider Buying and Selling

In other Heico news, Director Julie Neitzel sold 700 shares of the company's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the transaction, the director directly owned 418 shares of the company's stock, valued at $102,924.14. This represents a 62.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,056 shares of company stock valued at $22,699,941. Insiders own 9.55% of the company's stock.

Heico 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.