Bell Bank Has $1.49 Million Stake in Heico Corporation (NYSE:HEI)

Bell Bank trimmed its stake in Heico Corporation (NYSE:HEI - Free Report) by 23.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,592 shares of the aerospace company's stock after selling 1,691 shares during the period. Bell Bank's holdings in Heico were worth $1,494,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its holdings in shares of 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 boosted its position 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 in the last quarter. United Capital Financial Advisors LLC grew its stake in Heico by 5.7% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock worth $248,000 after buying an additional 56 shares during the last quarter. Bradley Foster & Sargent Inc. CT increased its holdings in shares of Heico by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock worth $667,000 after buying an additional 67 shares in the last quarter. Finally, PFG Advisors increased its holdings in shares of Heico by 0.8% during the fourth quarter. PFG Advisors now owns 8,960 shares of the aerospace company's stock worth $2,130,000 after buying an additional 70 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on HEI. William Blair restated an "outperform" rating on shares of Heico in a research report on Tuesday, March 25th. Wells Fargo & Company increased their target price on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Truist Financial lowered their target price on Heico from $294.00 to $277.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. UBS Group upped their price target on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Finally, Barclays set a $280.00 price objective on shares of Heico and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $279.45.

Heico Trading Up 1.4%

NYSE HEI traded up $4.39 on Friday, reaching $315.47. The company had a trading volume of 706,994 shares, compared to its average volume of 480,655. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $329.10. The stock's 50 day moving average is $274.26 and its 200-day moving average is $255.31. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The stock has a market cap of $43.88 billion, a price-to-earnings ratio of 73.71, a PEG ratio of 3.96 and a beta of 1.07.

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

Heico Increases Dividend

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

Insider Buying and Selling

In other Heico news, Director Alan Schriesheim sold 35,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the transaction, the director now owns 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director now owns 1,500 shares of the company's stock, valued at approximately $448,650. The trade was a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,056 shares of company stock worth $22,699,941. Company 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.