CenterBook Partners LP Makes New $854,000 Investment in Heico Corporation (NYSE:HEI)

CenterBook Partners LP acquired a new position in Heico Corporation (NYSE:HEI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,195 shares of the aerospace company's stock, valued at approximately $854,000.

Several other institutional investors also recently modified their holdings of the business. Bain Capital Public Equity Management II LLC bought a new stake in shares of Heico in the fourth quarter worth $110,503,000. EULAV Asset Management grew its stake in shares of Heico by 1.8% in the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after purchasing an additional 8,000 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Heico by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock worth $88,244,000 after purchasing an additional 8,300 shares during the last quarter. Freestone Grove Partners LP bought a new stake in shares of Heico in the fourth quarter worth $71,030,000. Finally, Vantage Investment Partners LLC grew its stake in shares of Heico by 1.1% in the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors own 27.12% of the company's stock.

Insider Activity at Heico

In related news, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $246.23, for a total value of $172,361.00. Following the transaction, the director owned 418 shares of the company's stock, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the firm'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 completion of the transaction, the director directly owned 1,500 shares in the company, valued at approximately $448,650. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,356 shares of company stock worth $40,684,976 over the last quarter. Company insiders own 9.55% of the company's stock.

Heico Stock Up 0.4%

Shares of HEI stock traded up $1.43 on Friday, reaching $322.47. 329,663 shares of the company were exchanged, compared to its average volume of 482,020. The company has a market cap of $44.86 billion, a price-to-earnings ratio of 75.34, a PEG ratio of 4.00 and a beta of 1.08. The company has a 50-day moving average of $302.74 and a 200-day moving average of $265.38. 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 one year low of $216.68 and a one year high of $328.64.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. The business's revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 EPS. Analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were given a dividend of $0.12 per share. This represents a dividend yield of 0.1%. The ex-dividend date was Tuesday, July 1st. This is a boost from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio is 5.61%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Thursday. Truist Financial upped their price target on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research report on Friday. Barclays set a $280.00 price target on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Finally, Wells Fargo & Company upped their price target on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $301.45.

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.