PFG Advisors Purchases 3,368 Shares of Heico Corporation (NYSE:HEI)

PFG Advisors increased its stake in Heico Corporation (NYSE:HEI - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,328 shares of the aerospace company's stock after purchasing an additional 3,368 shares during the period. PFG Advisors' holdings in Heico were worth $3,294,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HEI. Artemis Investment Management LLP bought a new stake in Heico during the 1st quarter valued at $7,612,000. EntryPoint Capital LLC acquired a new stake in shares of Heico in the 4th quarter worth approximately $220,000. Freedom Day Solutions LLC acquired a new stake in shares of Heico in the 1st quarter worth approximately $2,653,000. Praxis Investment Management Inc. lifted its stake in shares of Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock worth $2,359,000 after acquiring an additional 1,760 shares during the period. Finally, Vantage Investment Partners LLC raised its stake in shares of Heico by 1.1% in the 1st quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after buying an additional 1,772 shares in the last quarter. Institutional investors own 27.12% of the company's stock.

Analysts Set New Price Targets

HEI has been the topic of a number of recent research reports. Barclays set a $280.00 target price on Heico and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Stifel Nicolaus set a $352.00 price objective on Heico and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wells Fargo & Company increased their target price on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Wall Street Zen cut Heico from a "buy" rating to a "hold" rating in a report on Friday, July 18th. Finally, Bank of America lifted their target price on Heico from $320.00 to $355.00 and gave the company a "buy" rating in a research note on Thursday, July 3rd. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and a consensus target price of $301.45.

Heico Stock Up 0.7%

HEI traded up $2.28 during trading on Friday, reaching $322.68. 86,438 shares of the stock were exchanged, compared to its average volume of 523,611. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. The stock's 50 day moving average price is $306.68 and its two-hundred day moving average price is $267.70. The stock has a market cap of $44.88 billion, a P/E ratio of 75.39, a price-to-earnings-growth ratio of 4.00 and a beta of 1.08. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $328.64.

Heico (NYSE:HEI - Get Free Report) last announced its 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 return on equity of 15.88% and a net margin of 14.54%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the company earned $0.88 earnings per share. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts expect that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.12 per share. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a dividend yield of 0.1%. Heico's dividend payout ratio (DPR) is 5.61%.

Insider Activity at Heico

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the sale, the chairman owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the stock in a transaction that occurred 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 sale, the director directly owned 1,500 shares of the company's stock, 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 a total of 91,656 shares of company stock valued at $28,534,115 in the last 90 days. 9.55% of the stock is owned by corporate 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.