Cypress Capital Management LLC WY Acquires Shares of 3,693 Heico Corporation $HEI

Key Points

• Cypress Capital Management LLC WY opened a new Heico position, acquiring 3,693 shares valued at approximately $1.315 million. Several other institutional investors also initiated or increased holdings, with institutions owning 27.12% of Heico.
• Heico reported strong quarterly results, with EPS of $1.67 and revenue of $1.41 billion, beating estimates and representing 23.1% year-over-year revenue growth.
• Shares recently traded at $316.15, down 2.9%, while analysts maintained a generally positive outlook: Heico has a “Moderate Buy” consensus rating and an average price target of $395.38.

Cypress Capital Management LLC WY acquired a new position in shares of Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,693 shares of the aerospace company's stock, valued at approximately $1,315,000. Heico makes up 1.1% of Cypress Capital Management LLC WY's portfolio, making the stock its 28th largest holding.

Several other large investors have also modified their holdings of HEI. Strive Financial Group LLC bought a new stake in Heico in the second quarter valued at about $176,000. Safeguard Investment Advisory Group LLC bought a new position in Heico during the 2nd quarter worth approximately $2,330,000. Nykredit A S bought a new position in Heico during the 2nd quarter worth approximately $14,163,000. Flputnam Investment Management Co. acquired a new position in shares of Heico in the 2nd quarter worth approximately $214,000. Finally, Rational Advisors Inc. grew its position in shares of Heico by 15.0% in the 2nd quarter. Rational Advisors Inc. now owns 4,600 shares of the aerospace company's stock worth $1,638,000 after acquiring an additional 600 shares in the last quarter. Institutional investors own 27.12% of the company's stock.

Heico Trading Down 2.9%

Shares of NYSE HEI opened at $316.15 on Wednesday. The company has a market cap of $44.18 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The stock's 50 day simple moving average is $351.37 and its 200 day simple moving average is $321.20.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the firm posted $1.26 EPS. The business's revenue for the quarter was up 23.1% compared to the same quarter last year. Equities research analysts expect that Heico Corporation will post 6.21 EPS for the current year.

Heico Dividend Announcement

The company also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico's payout ratio is 4.33%.

Analyst Upgrades and Downgrades

HEI has been the topic of several research reports. Zacks Research raised Heico from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 9th. Citigroup lifted their price objective on shares of Heico from $429.00 to $441.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Royal Bank Of Canada boosted their target price on shares of Heico from $375.00 to $390.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Weiss Ratings upgraded shares of Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, July 16th. Finally, Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a report on Monday, August 31st. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Heico has an average rating of "Moderate Buy" and an average target price of $395.38.

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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