Bank of New York Mellon Corp Makes New $54.39 Million Investment in Heico Corporation $HEI

Bank of New York Mellon Corp purchased a new position in Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 152,689 shares of the aerospace company's stock, valued at approximately $54,386,000. Bank of New York Mellon Corp owned 0.11% of Heico as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HEI. GM Advisory Group LLC raised its stake in Heico by 1.2% in the fourth quarter. GM Advisory Group LLC now owns 2,985 shares of the aerospace company's stock worth $966,000 after buying an additional 36 shares in the last quarter. DSM Capital Partners LLC boosted its position in Heico by 5.4% during the 1st quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company's stock valued at $221,000 after acquiring an additional 41 shares in the last quarter. Mutual Advisors LLC boosted its position in Heico by 3.8% during the 4th quarter. Mutual Advisors LLC now owns 1,181 shares of the aerospace company's stock valued at $382,000 after acquiring an additional 43 shares in the last quarter. Cookson Peirce & Co. Inc. increased its holdings in shares of Heico by 1.8% in the 4th quarter. Cookson Peirce & Co. Inc. now owns 2,684 shares of the aerospace company's stock valued at $869,000 after acquiring an additional 48 shares during the period. Finally, Fortress Financial Solutions LLC raised its position in shares of Heico by 2.8% in the 1st quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company's stock worth $493,000 after acquiring an additional 49 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.

Heico Price Performance

NYSE HEI opened at $346.82 on Thursday. The company has a market cap of $48.44 billion, a price-to-earnings ratio of 57.71, a PEG ratio of 3.54 and a beta of 1.04. 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's fifty day moving average price is $353.86 and its 200 day moving average price is $321.38. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.16. The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.36 billion. Heico had a return on equity of 18.41% and a net margin of 16.38%.The firm's revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 EPS. As a group, equities research analysts forecast that Heico Corporation will post 6.02 earnings per share for the current year.

Heico Announces Dividend

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

Trending Headlines about Heico

Here are the key news stories impacting Heico this week:

• Positive Sentiment: HEICO’s third-quarter revenue rose 23% year over year to $1.41 billion, exceeding the $1.35 billion consensus estimate. Earnings per share reached $1.67, beating expectations of $1.51 and increasing from $1.26 a year earlier. HEICO Corporation Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Profitability was especially strong: net income increased 33% to a record $235.4 million, while operating income climbed 34%. Consolidated organic sales growth reached 14%, indicating that gains extended beyond acquisitions. HEICO Reports Record Fiscal Third-Quarter Results
• Positive Sentiment: HEICO subsidiary VPT expanded distribution through DigiKey for its military, avionics and space power-conversion products. The move could improve product accessibility and support future sales, although the near-term financial effect is likely limited. VPT Products Now Available on DigiKey
• Neutral Sentiment: The quarterly beat was driven by continued aerospace and defense demand, along with acquisitions. Investors will likely focus on whether HEICO can sustain its growth rate and margins in coming quarters. HEICO Third-Quarter Revenue Climbs
• Negative Sentiment: Despite the earnings beat, HEI trades at a high valuation, with a price-to-earnings ratio near 62 and a price-to-earnings-growth ratio of 3.56. That premium may be encouraging profit-taking and raising the bar for future earnings surprises.

Insider Buying and Selling

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HEI shares. Wall Street Zen cut Heico from a "buy" rating to a "hold" rating in a research note on Sunday. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the company a "buy" rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft set a $421.00 price target on shares of Heico and gave the company a "buy" rating in a research report on Wednesday, August 19th. Jefferies Financial Group set a $430.00 price target on shares of Heico in a report on Wednesday. Finally, UBS Group reaffirmed a "neutral" rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and an average target price of $378.29.

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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