Heico Corporation $HEI Stake Lowered by Riverbridge Partners LLC

Key Points

• Riverbridge Partners LLC cut its Heico stake by 31.1% in the first quarter, selling 183,299 shares and leaving it with 406,226 shares worth about $111.4 million. Heico still represented 2.7% of Riverbridge’s portfolio.
• Heico reported strong quarterly results, posting EPS of $1.66 versus analyst expectations of $1.33 and revenue of $1.38 billion versus the $1.25 billion estimate. Revenue rose 25.3% year over year.
• Insider selling and upbeat analyst sentiment both featured in the report: director Julie Neitzel and CAO Bradley K. Rowen sold shares, while analysts maintain a Moderate Buy consensus with an average price target of $371.62.

Riverbridge Partners LLC lessened its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 31.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 406,226 shares of the aerospace company's stock after selling 183,299 shares during the period. Heico accounts for approximately 2.7% of Riverbridge Partners LLC's investment portfolio, making the stock its 9th biggest holding. Riverbridge Partners LLC owned approximately 0.29% of Heico worth $111,387,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. IFC & Insurance Marketing Inc. acquired a new position in Heico in the fourth quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC raised its holdings in Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new stake in shares of Heico during the 4th quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new position in shares of Heico in the 4th quarter valued at $37,000. Finally, FNY Investment Advisers LLC boosted its holdings in shares of Heico by 862.5% in the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company's stock valued at $49,000 after buying an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

Insider Activity at Heico

In other news, Director Julie Neitzel sold 676 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Bradley K. Rowen sold 1,326 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.86% of the company's stock.

Heico Stock Performance

NYSE:HEI opened at $334.07 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The firm has a market cap of $46.66 billion, a price-to-earnings ratio of 59.66, a price-to-earnings-growth ratio of 3.53 and a beta of 1.03. The firm's fifty day moving average price is $305.20 and its 200 day moving average price is $313.81. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $361.69.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. Heico's quarterly revenue was up 25.3% on a year-over-year basis. On average, sell-side analysts expect that Heico Corporation will post 5.78 EPS for the current year.

Heico Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, July 1st. This represents a yield of 8.0%. Heico's payout ratio is presently 4.29%.

Analysts Set New Price Targets

Several brokerages recently commented on HEI. Weiss Ratings lowered shares of Heico from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. BNP Paribas Exane upgraded shares of Heico from a "neutral" rating to an "outperform" rating in a research note on Friday, February 27th. Royal Bank Of Canada raised their price objective on Heico from $375.00 to $390.00 and gave the stock an "outperform" rating in a report on Friday, May 29th. Susquehanna lifted their target price on Heico from $321.00 to $365.00 and gave the stock a "neutral" rating in a research report on Friday, May 29th. Finally, Citigroup reissued a "buy" rating and issued a $403.00 target price (up from $323.00) on shares of Heico in a report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $371.62.

About Heico

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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