Heico Corporation $HEI Shares Bought by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas increased its Heico stake by 80.8% in the first quarter, ending with 27,049 shares valued at about $7.4 million. Other institutions also added to HEI, and hedge funds/institutional investors now own 27.12% of the company.
• Heico reported stronger-than-expected quarterly results, posting EPS of $1.66 versus the $1.33 estimate and revenue of $1.38 billion versus the $1.25 billion forecast. Revenue rose 25.3% year over year, and analysts expect full-year EPS of 5.95.
• Wall Street remains positive on the stock, with a consensus rating of “Moderate Buy” and an average price target of $374.56. The shares recently traded at $341.07, near the upper end of their 52-week range.

Amova Asset Management Americas Inc. grew its stake in Heico Corporation (NYSE:HEI - Free Report) by 80.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,049 shares of the aerospace company's stock after acquiring an additional 12,085 shares during the quarter. Amova Asset Management Americas Inc.'s holdings in Heico were worth $7,415,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HEI. Acadian Asset Management LLC boosted its position in Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company's stock worth $368,000 after acquiring an additional 945 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new position in Heico in the 2nd quarter valued at $2,338,000. PDT Partners LLC lifted its stake in shares of Heico by 52.6% during the 2nd quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company's stock worth $12,798,000 after purchasing an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Heico by 10.8% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company's stock worth $1,572,000 after purchasing an additional 468 shares during the period. Finally, IHT Wealth Management LLC boosted its holdings in shares of Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company's stock worth $1,875,000 after purchasing an additional 117 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

Heico Stock Performance

Shares of HEI stock opened at $341.07 on Tuesday. The company's fifty day simple moving average is $331.59 and its 200-day simple moving average is $317.81. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $369.48. The company has a market cap of $47.63 billion, a PE ratio of 60.90, a P/E/G ratio of 3.55 and a beta of 1.03.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm's revenue was up 25.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. As a group, equities research analysts anticipate that Heico Corporation will post 5.95 EPS for the current year.

Heico Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given 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 dividend payout ratio (DPR) is presently 4.64%.

Insider Buying and Selling

In related news, CAO Bradley K. Rowen sold 1,326 shares of the business's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group reiterated a "neutral" rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Morgan Stanley set a $370.00 price target on Heico in a report on Wednesday, July 15th. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the company an "equal weight" rating in a research note on Monday, June 1st. Truist Financial raised shares of Heico to a "strong-buy" rating in a research report on Friday, May 1st. Finally, 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 report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Heico currently has an average rating of "Moderate Buy" and a consensus price target of $374.56.

Heico 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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