Benjamin Edwards Inc. Has $1.81 Million Stake in Heico Corporation (NYSE:HEI)

Key Points

• Benjamin Edwards Inc. increased its holdings in Heico Corporation by 16.1%, owning 6,757 shares worth approximately $1.8 million after adding 935 shares during the first quarter.
• Insider trading activity included Chairman Laurans A. Mendelson selling 56,300 shares for about $17.99 million, reducing his ownership by 4.3% to approximately $400 million in value.
• Heico recently raised its semi-annual dividend from $0.11 to $0.12 per share, reflecting a 10% yield and a payout ratio of 5.61%.

Benjamin Edwards Inc. grew its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 16.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 6,757 shares of the aerospace company's stock after acquiring an additional 935 shares during the quarter. Benjamin Edwards Inc.'s holdings in Heico were worth $1,805,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HEI. Capital Fund Management S.A. acquired a new position in Heico during the 4th quarter worth $3,168,000. Belpointe Asset Management LLC boosted its position in Heico by 97.3% during the 4th quarter. Belpointe Asset Management LLC now owns 4,215 shares of the aerospace company's stock worth $1,081,000 after acquiring an additional 2,079 shares during the period. United Capital Financial Advisors LLC boosted its position in Heico by 5.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock worth $248,000 after acquiring an additional 56 shares during the period. NewEdge Advisors LLC boosted its position in Heico by 6.7% during the 4th quarter. NewEdge Advisors LLC now owns 1,542 shares of the aerospace company's stock worth $367,000 after acquiring an additional 97 shares during the period. Finally, Capital Group Investment Management PTE. LTD. boosted its position in Heico by 2.1% during the 4th quarter. Capital Group Investment Management PTE. LTD. now owns 10,116 shares of the aerospace company's stock worth $2,405,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Stock Down 1.1%

Heico stock traded down $3.47 during mid-day trading on Friday, hitting $307.73. The company's stock had a trading volume of 243,505 shares, compared to its average volume of 380,180. The firm's 50 day moving average is $317.19 and its 200 day moving average is $277.23. The company has a market cap of $42.81 billion, a PE ratio of 71.90, a price-to-earnings-growth ratio of 3.87 and a beta of 1.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $338.92.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.88 EPS. The business's revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts anticipate 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 was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.12 dividend. This represents a yield of 10.0%. The ex-dividend date of this dividend was Tuesday, July 1st. This is an increase from Heico's previous semi-annual dividend of $0.11. Heico's payout ratio is currently 5.61%.

Insiders Place Their Bets

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares of the company's stock, valued at $400,311,420.15. This represents a 4.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total value of $10,442,600.00. Following the completion of the transaction, the director directly owned 122,197 shares in the company, valued at approximately $36,458,696.92. The trade was a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,656 shares of company stock valued at $28,534,115 in the last three months. Insiders own 9.55% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HEI. Morgan Stanley boosted their price target on Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. UBS Group boosted their price target on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Wall Street Zen lowered Heico from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Wells Fargo & Company raised their target price on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $301.45.

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.