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

Bell Bank lowered its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 23.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 modified their holdings of the company. Bradley Foster & Sargent Inc. CT lifted its stake in Heico by 2.4% in the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock valued at $667,000 after acquiring an additional 67 shares during the last quarter. Navellier & Associates Inc. increased its position in Heico by 31.0% during the fourth quarter. Navellier & Associates Inc. now owns 3,158 shares of the aerospace company's stock worth $751,000 after buying an additional 748 shares during the last quarter. ARK Investment Management LLC lifted its position in shares of Heico by 2.8% in the fourth quarter. ARK Investment Management LLC now owns 15,301 shares of the aerospace company's stock worth $3,638,000 after buying an additional 416 shares during the last quarter. Cutter & CO Brokerage Inc. boosted its stake in shares of Heico by 7.5% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 64,460 shares of the aerospace company's stock worth $15,325,000 after acquiring an additional 4,504 shares in the last quarter. Finally, K.J. Harrison & Partners Inc increased its holdings in shares of Heico by 11.4% during the 4th quarter. K.J. Harrison & Partners Inc now owns 19,540 shares of the aerospace company's stock valued at $4,635,000 after acquiring an additional 2,000 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Stock Performance

Heico stock traded up $3.89 during trading hours on Wednesday, hitting $311.01. The stock had a trading volume of 464,721 shares, compared to its average volume of 479,749. The company has a 50-day moving average of $273.03 and a two-hundred day moving average of $255.02. 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 company has a market cap of $43.26 billion, a PE ratio of 72.67, a price-to-earnings-growth ratio of 3.92 and a beta of 1.07. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $318.46.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly 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. The firm had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities research analysts anticipate that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. William Blair restated an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Wells Fargo & Company boosted their price objective on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Morgan Stanley lifted 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. Finally, Barclays set a $280.00 target price on shares of Heico and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $279.45.

Insider Transactions at Heico

In other Heico news, Director Frank J. Schwitter sold 356 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the sale, the director now directly owns 1,500 shares of the company's stock, valued at approximately $448,650. This represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julie Neitzel sold 700 shares of the company's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the sale, the director now directly owns 418 shares in the company, valued at $102,924.14. This represents a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,056 shares of company stock valued at $22,699,941. Company insiders own 9.55% of the company's stock.

About Heico

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.