Dakota Wealth Management Invests $498,000 in Heico Corporation $HEI

Key Points

• Dakota Wealth Management invested approximately $498,000 in Heico Corporation by acquiring 1,518 shares in the second quarter.
• Heico reported strong quarterly earnings, with an EPS of $1.26, exceeding estimates and showing a 15.7% increase in revenue year-over-year.
• Several analysts have given Heico a "buy" rating, with price targets ranging from $360.00 to $400.00, reflecting positive sentiment in the market.

Dakota Wealth Management bought a new position in Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,518 shares of the aerospace company's stock, valued at approximately $498,000.

Several other institutional investors and hedge funds also recently modified their holdings of HEI. NBC Securities Inc. purchased a new stake in shares of Heico in the first quarter worth about $27,000. Threadgill Financial LLC purchased a new stake in shares of Heico in the first quarter worth about $212,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Heico by 10.7% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 4,920 shares of the aerospace company's stock worth $1,315,000 after buying an additional 476 shares during the period. Clare Market Investments LLC boosted its position in shares of Heico by 100.0% in the first quarter. Clare Market Investments LLC now owns 2,000 shares of the aerospace company's stock worth $534,000 after buying an additional 1,000 shares during the period. Finally, Retireful LLC acquired a new position in shares of Heico in the first quarter worth about $390,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Heico Trading Up 0.7%

Shares of NYSE HEI opened at $320.19 on Monday. The stock's 50 day moving average price is $317.73 and its two-hundred day moving average price is $293.77. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $338.92. The stock has a market capitalization of $44.57 billion, a P/E ratio of 70.06, a PEG ratio of 3.75 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. Heico's revenue for the quarter was up 15.7% compared to the same quarter last year. On average, analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reiterated a "buy" rating on shares of Heico in a research note on Monday, August 18th. Truist Financial boosted their price target on Heico from $352.00 to $366.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Bank of America boosted their price target on Heico from $355.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Robert W. Baird boosted their price target on Heico from $360.00 to $400.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Finally, Stifel Nicolaus set a $360.00 price target on Heico in a research note on Tuesday, August 26th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $346.09.

Insider Buying and Selling at Heico

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 sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.55% of the company's stock.

About Heico

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.