Heico Corporation $HEI Shares Acquired by Capital Fund Management S.A.

Key Points

• Capital Fund Management S.A. has significantly increased its position in Heico Corporation's shares by 79.8%, acquiring a total of 23,959 shares valued at approximately $6.4 million.
• Analysts have shown a positive outlook for Heico, with several upgrades and target price increases, including a boost from Royal Bank of Canada to $335.00 and Bank of America to $355.00, while the stock currently holds a consensus rating of "Moderate Buy."
• Heico has recently announced a semi-annual dividend increase to $0.12 per share, reflecting a boost from the previous dividend rate, with a current yield of 10.0%.

Capital Fund Management S.A. increased its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 79.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,959 shares of the aerospace company's stock after acquiring an additional 10,635 shares during the quarter. Capital Fund Management S.A.'s holdings in Heico were worth $6,402,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC boosted its position in shares of Heico by 92.0% during the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 46 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in Heico by 1.2% in the 4th quarter. Benjamin Edwards Inc. now owns 5,822 shares of the aerospace company's stock valued at $1,384,000 after buying an additional 70 shares during the period. Groupama Asset Managment raised its holdings in Heico by 0.5% in the 1st quarter. Groupama Asset Managment now owns 14,438 shares of the aerospace company's stock valued at $3,841,000 after buying an additional 71 shares during the period. Linden Thomas Advisory Services LLC raised its holdings in Heico by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,586 shares of the aerospace company's stock valued at $1,760,000 after buying an additional 73 shares during the period. Finally, Tidal Investments LLC raised its holdings in Heico by 5.2% in the 4th quarter. Tidal Investments LLC now owns 1,638 shares of the aerospace company's stock valued at $389,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HEI. Wells Fargo & Company boosted their price objective on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Robert W. Baird boosted their price objective on shares of Heico from $360.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday. Truist Financial boosted their price objective on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a report on Wednesday. Zacks Research raised Heico to a "hold" rating in a research report on Monday, August 11th. Finally, Barclays set a $280.00 target price on Heico and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $336.00.

Insider Activity at Heico

In related news, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction that occurred on 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 of the company's stock, valued at $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the transaction, the director directly owned 1,500 shares of the company's stock, valued at $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,656 shares of company stock valued at $28,534,115 over the last three months. 9.55% of the stock is owned by corporate insiders.

Heico Stock Down 4.5%

Shares of Heico stock traded down $14.81 on Wednesday, reaching $317.35. 483,871 shares of the company were exchanged, compared to its average volume of 516,522. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92. The company has a market cap of $44.14 billion, a P/E ratio of 69.56, a price-to-earnings-growth ratio of 3.80 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. The stock's 50 day moving average price is $318.17 and its 200-day moving average price is $281.14.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.14. Heico had a return on equity of 16.68% and a net margin of 14.96%.The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The business's revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities analysts forecast that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a $0.12 dividend. This represents a yield of 10.0%. This is a positive change from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, July 1st. Heico's dividend payout ratio is currently 5.61%.

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.