EULAV Asset Management Purchases 8,000 Shares of Heico Corporation (NYSE:HEI)

EULAV Asset Management boosted its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 1.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 461,693 shares of the aerospace company's stock after acquiring an additional 8,000 shares during the quarter. Heico makes up approximately 3.0% of EULAV Asset Management's portfolio, making the stock its 2nd largest holding. EULAV Asset Management owned 0.33% of Heico worth $123,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HEI. Wealthfront Advisers LLC raised its position in Heico by 219,129.4% during the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after acquiring an additional 22,224,106 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Heico during the fourth quarter valued at approximately $110,503,000. Freestone Grove Partners LP bought a new position in shares of Heico in the fourth quarter valued at approximately $71,030,000. Squarepoint Ops LLC raised its position 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 purchasing an additional 83,251 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Heico in the fourth quarter valued at approximately $16,578,000. Institutional investors own 27.12% of the company's stock.

Insiders Place Their Bets

In other news, Director Alan Schriesheim sold 35,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total value of $10,442,600.00. Following the sale, the director owned 122,197 shares in the company, valued at approximately $36,458,696.92. The trade was a 22.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank J. Schwitter sold 356 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director owned 1,500 shares in the company, valued at $448,650. This represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,056 shares of company stock worth $22,699,941 over the last 90 days. Corporate insiders own 9.55% of the company's stock.

Heico Stock Performance

HEI traded down $5.29 during trading on Thursday, reaching $311.56. 616,664 shares of the company's stock were exchanged, compared to its average volume of 483,032. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $328.64. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average price of $295.13 and a 200 day moving average price of $261.58. The company has a market capitalization of $43.34 billion, a P/E ratio of 72.79, a PEG ratio of 3.99 and a beta of 1.08.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business's revenue was up 14.9% compared to the same quarter last year. As a group, analysts predict that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.12 per share. The ex-dividend date is Tuesday, July 1st. This represents a yield of 0.1%. This is an increase from Heico's previous semi-annual dividend of $0.11. Heico's payout ratio is currently 5.61%.

Wall Street Analyst Weigh In

HEI has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. UBS Group lifted their price target on shares of Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Wells Fargo & Company boosted their target price on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Morgan Stanley boosted their target price on shares of Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Finally, Truist Financial dropped their target price on shares of Heico from $294.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $292.36.

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.