Corient IA LLC Purchases New Shares in Heico Corporation $HEI

Key Points

• Corient IA LLC has invested approximately $668,000 in Heico Corporation by acquiring 2,500 shares during the first quarter of the year.
• Heico Corporation recently reported quarterly earnings of $1.12 per share, exceeding analysts' expectations of $1.03 per share, with a revenue of $1.10 billion.
• The company announced an increase in its semi-annual dividend to $0.12 per share, reflecting a positive change from the previous amount of $0.11.

Corient IA LLC bought a new position in Heico Corporation (NYSE:HEI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,500 shares of the aerospace company's stock, valued at approximately $668,000.

Other hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC raised its position in Heico by 92.0% in the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock worth $26,000 after buying an additional 46 shares during the last quarter. NBC Securities Inc. purchased a new position in Heico in the 1st quarter worth about $27,000. Costello Asset Management INC purchased a new stake in shares of Heico during the 1st quarter valued at about $27,000. Banque Transatlantique SA purchased a new stake in shares of Heico during the 4th quarter valued at about $44,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Heico by 17,800.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

Heico Price Performance

HEI stock traded up $0.8840 during midday trading on Thursday, hitting $308.1140. The company's stock had a trading volume of 322,779 shares, compared to its average volume of 511,829. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. 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 firm has a market capitalization of $42.86 billion, a price-to-earnings ratio of 71.99, a price-to-earnings-growth ratio of 3.79 and a beta of 1.11. The company has a 50 day moving average of $317.47 and a two-hundred day moving average of $278.66.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share 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 business 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 company posted $0.88 EPS. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. On average, analysts expect that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The company also recently announced 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. The ex-dividend date was Tuesday, July 1st. This represents a dividend yield of 10.0%. This is an increase from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio is currently 5.61%.

Analysts Set New Price Targets

Several research firms have recently commented on HEI. Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the company a "buy" rating in a research report on Tuesday, June 24th. 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. Zacks Research raised shares of Heico to a "hold" rating in a research report on Monday, August 11th. 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. 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. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $301.45.

Insider Activity

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the transaction, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 35,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total value of $10,442,600.00. Following the transaction, the director 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 91,656 shares of company stock worth $28,534,115. 9.55% of the stock is currently owned by insiders.

Heico Company 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.