Caxton Associates LLP Acquires Shares of 5,780 Heico Corporation $HEI

Key Points

• Caxton Associates LLP opened a new position in Heico, buying 5,780 shares in the first quarter worth about $1.585 million.
• Heico reported better-than-expected quarterly results, with EPS of $1.66 versus the $1.33 estimate and revenue of $1.38 billion versus $1.25 billion expected, while revenue rose 25.3% year over year.
• Analysts remain constructive on the stock, with several rating upgrades and a Moderate Buy consensus price target of $374.56; the shares recently traded around $349.34, near their 52-week high.

Caxton Associates LLP bought a new stake in Heico Corporation (NYSE:HEI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,780 shares of the aerospace company's stock, valued at approximately $1,585,000.

Several other large investors have also made changes to their positions in HEI. Acadian Asset Management LLC boosted its position in Heico by 216.7% in the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company's stock valued at $368,000 after buying an additional 945 shares in the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in shares of Heico during the second quarter worth approximately $2,338,000. PDT Partners LLC increased its holdings in shares of Heico by 52.6% during the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company's stock worth $12,798,000 after buying an additional 13,443 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Heico by 10.8% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company's stock valued at $1,572,000 after acquiring an additional 468 shares during the last quarter. Finally, IHT Wealth Management LLC raised its stake in shares of Heico by 2.1% in the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company's stock valued at $1,875,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 27.12% of the company's stock.

Heico Stock Performance

Shares of Heico stock opened at $349.34 on Friday. 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 firm has a market cap of $48.79 billion, a P/E ratio of 62.38, a P/E/G ratio of 3.62 and a beta of 1.03. The firm has a 50 day simple moving average of $335.62 and a 200 day simple moving average of $318.32. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $369.48.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. Sell-side analysts predict that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Announces Dividend

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

Insider Activity

In related news, CAO Bradley K. Rowen sold 1,326 shares of the firm's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 4.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Jefferies Financial Group reissued a "buy" rating and issued a $410.00 price objective (up from $375.00) on shares of Heico in a research note on Thursday, May 28th. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the stock a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings upgraded Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price target on Heico from $375.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $374.56.

Heico Profile

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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