Heico Corporation $HEI Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

Key Points

• UBS Asset Management cut its Heico stake by 41.5% in the second quarter, selling 390,849 shares and retaining 550,942 shares valued at approximately $196.2 million. Institutional investors collectively own 27.12% of Heico.
• Heico reported stronger-than-expected quarterly results, with EPS of $1.67 versus the $1.51 consensus estimate and revenue of $1.41 billion, up 23.1% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $389.67, compared with the stock’s reported opening price of $331.10.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 41.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,942 shares of the aerospace company's stock after selling 390,849 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.39% of Heico worth $196,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Diamant Asset Management Inc. increased its holdings in Heico by 25,698.9% in the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock worth $209,392,000 after buying an additional 760,687 shares during the period. Weitz Investment Management Inc. acquired a new stake in Heico during the 2nd quarter valued at approximately $52,737,000. Bank of New York Mellon Corp purchased a new stake in shares of Heico in the 2nd quarter valued at $54,386,000. Freestone Grove Partners LP acquired a new stake in shares of Heico in the second quarter worth $50,276,000. Finally, Munro Partners increased its stake in shares of Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock worth $92,190,000 after acquiring an additional 87,265 shares during the period. Hedge funds and other institutional investors own 27.12% of the company's stock.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.86% of the company's stock.

Heico Stock Down 1.6%

HEI stock opened at $331.10 on Tuesday. Heico Corporation has a one year low of $256.11 and a one year high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The firm's fifty day moving average is $353.82 and its 200 day moving average is $321.60. The firm has a market cap of $46.24 billion, a PE ratio of 55.09, a P/E/G ratio of 3.36 and a beta of 1.04.

Heico (NYSE:HEI - Get Free Report) last posted its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.16. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The company's revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.26 EPS. On average, research analysts forecast that Heico Corporation will post 6.09 EPS for the current year.

Heico Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a yield of 7.0%. Heico's dividend payout ratio (DPR) is currently 4.33%.

Analyst Upgrades and Downgrades

HEI has been the subject of a number of research reports. Jefferies Financial Group set a $430.00 target price on shares of Heico and gave the company a "buy" rating in a research report on Wednesday, August 26th. Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a research report on Monday. Morgan Stanley set a $370.00 price objective on Heico in a research note on Wednesday, July 15th. Citigroup boosted their price objective on Heico from $429.00 to $441.00 and gave the company a "buy" rating in a report on Friday. Finally, Susquehanna raised their target price on Heico from $321.00 to $365.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and an average price target of $389.67.

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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