Cresset Asset Management LLC Acquires 1,390 Shares of Heico Corporation $HEI

Key Points

• Cresset Asset Management LLC increased its stake in Heico Corporation by 25.1% in the first quarter, holding 6,929 shares valued at $1.85 million.
• Heico declared a semi-annual dividend of $0.12 per share, reflecting a yield of 10.0%, an increase from the previous dividend of $0.11.
• Several institutions adjusted their positions in Heico, with hedge funds currently owning 27.12% of the stock, indicating significant interest from institutional investors.

Cresset Asset Management LLC boosted its stake in Heico Corporation (NYSE:HEI - Free Report) by 25.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,929 shares of the aerospace company's stock after buying an additional 1,390 shares during the quarter. Cresset Asset Management LLC's holdings in Heico were worth $1,851,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HEI. Ridgewood Investments LLC boosted its stake in Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock worth $26,000 after purchasing an additional 46 shares in the last quarter. Costello Asset Management INC acquired a new position in Heico in the first quarter worth $27,000. NBC Securities Inc. acquired a new position in Heico in the first quarter worth $27,000. Caitong International Asset Management Co. Ltd boosted its stake in Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock worth $48,000 after purchasing an additional 178 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in Heico in the fourth quarter worth $44,000. Institutional investors and hedge funds own 27.12% of the company's stock.

Insider Activity at Heico

In related news, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction dated 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 sale, the director owned 122,197 shares in the company, valued at approximately $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Frank J. Schwitter sold 356 shares of the company's stock in a transaction dated 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 sale, the director owned 1,500 shares of the company's stock, valued at $448,650. This represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,656 shares of company stock worth $28,534,115. 9.55% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on HEI shares. Stifel Nicolaus set a $352.00 price objective on Heico and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Barclays set a $280.00 price objective on shares of Heico and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Truist Financial boosted their price objective on shares of Heico from $323.00 to $352.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Bank of America upped their price target on Heico from $320.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Heico in a research note on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Heico has a consensus rating of "Moderate Buy" and a consensus price target of $307.18.

Heico Trading Down 0.9%

NYSE HEI traded down $2.86 on Monday, reaching $306.73. The company had a trading volume of 135,255 shares, compared to its average volume of 508,948. The stock's 50 day moving average is $317.63 and its 200-day moving average is $280.28. The stock has a market cap of $42.67 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 3.85 and a beta of 1.11. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%.The firm's revenue was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. Equities analysts predict 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. Investors of record on Tuesday, July 1st were issued a $0.12 dividend. This is a boost from Heico's previous semi-annual dividend of $0.11. This represents a yield of 10.0%. The ex-dividend date was Tuesday, July 1st. Heico's dividend payout ratio is currently 5.61%.

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.