Frank Rimerman Advisors LLC Makes New $222,000 Investment in Heico Corporation (NYSE:HEI)

Key Points

• Frank Rimerman Advisors LLC invested $222,000 by acquiring 829 shares of Heico Corporation in the first quarter, as reported in their recent 13F filing.
• Heico announced a dividend increase to $0.12 per share, up from $0.11, reflecting a yield of 10%, with a payout ratio of 5.61%.
• Bank of America and Morgan Stanley both lifted their price targets for Heico's stock, indicating strong analyst optimism with several rating upgrades recently.

Frank Rimerman Advisors LLC acquired a new stake in Heico Corporation (NYSE:HEI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 829 shares of the aerospace company's stock, valued at approximately $222,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wolverine Asset Management LLC bought a new stake in Heico during the first quarter worth approximately $401,000. CenterBook Partners LP bought a new stake in Heico during the first quarter worth approximately $854,000. Costello Asset Management INC bought a new stake in Heico during the first quarter worth approximately $27,000. Baker Avenue Asset Management LP bought a new stake in Heico during the first quarter worth approximately $345,000. Finally, Jefferies Financial Group Inc. bought a new stake in Heico during the first quarter worth approximately $488,000. 27.12% of the stock is currently owned by institutional investors.

Heico Stock Down 1.1%

Shares of Heico stock traded down $3.47 during midday trading on Friday, reaching $307.73. 243,505 shares of the company's stock traded hands, compared to its average volume of 380,180. The company has a market cap of $42.81 billion, a price-to-earnings ratio of 71.90, a price-to-earnings-growth ratio of 3.87 and a beta of 1.11. The company's 50 day simple moving average is $317.19 and its 200 day simple moving average is $277.23. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. 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 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. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. Heico's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. Equities analysts expect that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The company 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 represents a yield of 10.0%. The ex-dividend date was Tuesday, July 1st. This is a boost from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio (DPR) is 5.61%.

Analysts Set New Price Targets

HEI has been the subject of a number of research reports. UBS Group raised their target price on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Truist Financial upped their price target 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. Wall Street Zen downgraded shares of Heico from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Wells Fargo & Company upped their price target on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Finally, Barclays set a $280.00 price target on shares of Heico and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $301.45.

Insider Activity at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Frank J. Schwitter sold 356 shares of the firm'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 transaction, the director owned 1,500 shares in the company, valued at $448,650. The trade was a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 91,656 shares of company stock worth $28,534,115. 9.55% of the stock is owned by insiders.

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.