6,723 Shares in Heico Corporation (NYSE:HEI) Acquired by Entropy Technologies LP

Key Points

• Entropy Technologies LP has acquired a new stake in Heico Corporation, purchasing 6,723 shares valued at approximately $1,796,000, highlighting growing institutional interest in the aerospace company.
• Insider trading activity includes significant stock sales by Director Alan Schriesheim and Chairman Laurans A. Mendelson, with Schriesheim selling 35,000 shares for over $10 million, indicating a 22.27% reduction in his holdings.
• Heico Corporation recently increased its semi-annual dividend from $0.11 to $0.12 per share, reflecting a positive change in its financial outlook, with the dividend yield now at 10.0%.

Entropy Technologies LP purchased a new stake in shares of Heico Corporation (NYSE:HEI - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 6,723 shares of the aerospace company's stock, valued at approximately $1,796,000.

Other hedge funds also recently bought and sold shares of the company. Bain Capital Public Equity Management II LLC purchased a new stake in shares of Heico in the fourth quarter valued at $110,503,000. Freestone Grove Partners LP purchased a new stake in shares of Heico in the fourth quarter valued at $71,030,000. Mackenzie Financial Corp purchased a new stake in shares of Heico in the first quarter valued at $40,949,000. Squarepoint Ops LLC raised its stake in shares of Heico by 2,203.0% in the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock valued at $20,691,000 after acquiring an additional 83,251 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Heico in the fourth quarter valued at $16,578,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus set a $352.00 target price on shares of Heico and gave the company a "buy" rating in a research note on Tuesday, June 24th. Bank of America raised their price target on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a research note on Thursday, July 3rd. Barclays set a $280.00 price objective on shares of Heico and gave the company 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 company a "buy" rating in a research report on Friday, July 11th. Finally, Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $301.45.

Heico Stock Down 0.4%

NYSE HEI traded down $1.39 during trading on Friday, reaching $309.81. 67,838 shares of the company's stock traded hands, compared to its average volume of 512,387. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. The firm has a market cap of $43.09 billion, a price-to-earnings ratio of 72.28, a price-to-earnings-growth ratio of 3.90 and a beta of 1.11. The company's 50 day simple moving average is $317.10 and its two-hundred day simple moving average is $276.73. Heico Corporation has a 12-month low of $216.68 and a 12-month high of $338.92.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the business earned $0.88 EPS. The company's revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.12 dividend. This is a boost from Heico's previous semi-annual dividend of $0.11. The ex-dividend date was Tuesday, July 1st. This represents a yield of 10.0%. Heico's dividend payout ratio (DPR) is 5.61%.

Insider Buying and Selling

In related news, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction that occurred on 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 directly owned 1,500 shares in the company, valued at $448,650. This trade represents a 19.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Schriesheim sold 35,000 shares of Heico stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the sale, the director owned 122,197 shares of the company's stock, valued at $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,656 shares of company stock worth $28,534,115 in the last three months. Corporate 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.