CPC Advisors LLC Has $2.52 Million Position in Heico Corporation $HEI

Key Points

• CPC Advisors LLC increased its stake in Heico by 208.4% in the first quarter, holding 9,187 shares valued at about $2.52 million.
• Heico posted strong quarterly results, with earnings of $1.66 per share and revenue of $1.38 billion, both ahead of analyst expectations. Revenue rose 25.3% year over year.
• Wall Street remains constructive on the stock, with a Moderate Buy consensus and an average price target of $371.62, while Heico also announced a $0.13 dividend payable July 15.

CPC Advisors LLC raised its position in Heico Corporation (NYSE:HEI - Free Report) by 208.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,187 shares of the aerospace company's stock after purchasing an additional 6,208 shares during the period. CPC Advisors LLC's holdings in Heico were worth $2,519,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. GM Advisory Group LLC grew its holdings in shares of Heico by 1.2% in the 4th quarter. GM Advisory Group LLC now owns 2,985 shares of the aerospace company's stock valued at $966,000 after buying an additional 36 shares during the period. Pekin Hardy Strauss Inc. increased its position in shares of Heico by 4.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 887 shares of the aerospace company's stock valued at $286,000 after buying an additional 37 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. raised its stake in Heico by 4.0% during the 4th quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 1,047 shares of the aerospace company's stock worth $339,000 after buying an additional 40 shares during the period. Mutual Advisors LLC raised its stake in Heico by 3.8% during the 4th quarter. Mutual Advisors LLC now owns 1,181 shares of the aerospace company's stock worth $382,000 after buying an additional 43 shares during the period. Finally, MBL Wealth LLC lifted its holdings in Heico by 2.5% during the fourth quarter. MBL Wealth LLC now owns 1,817 shares of the aerospace company's stock worth $588,000 after acquiring an additional 45 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Heico news, Director Julie Neitzel sold 676 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Bradley K. Rowen sold 1,326 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. Additional details regarding this sale are available in the official SEC disclosure. 4.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HEI. BNP Paribas Exane upgraded Heico from a "neutral" rating to an "outperform" rating in a report on Friday, February 27th. Rothschild & Co Redburn set a $360.00 price objective on Heico and gave the company a "buy" rating in a report on Wednesday, May 13th. Susquehanna boosted their price objective on Heico from $321.00 to $365.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Wells Fargo & Company set a $350.00 price objective on Heico and gave the company an "equal weight" rating in a research report on Monday, June 1st. Finally, Citigroup reissued a "buy" rating and set a $403.00 target price (up from $323.00) on shares of Heico in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $371.62.

Heico Trading Up 0.1%

Shares of NYSE:HEI opened at $337.39 on Monday. The company's 50-day moving average price is $303.53 and its two-hundred day moving average price is $313.48. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. Heico Corporation has a one year low of $256.11 and a one year high of $361.69. The stock has a market capitalization of $47.12 billion, a PE ratio of 60.25, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.33. The company had revenue of $1.38 billion during the quarter, compared to analysts' expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.Heico's revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 EPS. On average, equities analysts forecast that Heico Corporation will post 5.78 EPS for the current fiscal year.

Heico Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be paid a $0.13 dividend. This represents a yield of 8.0%. The ex-dividend date is Wednesday, July 1st. Heico's dividend payout ratio (DPR) is currently 4.29%.

Heico Company 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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