Praxis Investment Management Inc. Increases Stock Holdings in Heico Corporation (NYSE:HEI)

Praxis Investment Management Inc. lifted its stake in Heico Corporation (NYSE:HEI - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,830 shares of the aerospace company's stock after purchasing an additional 1,760 shares during the quarter. Praxis Investment Management Inc.'s holdings in Heico were worth $2,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of HEI. NBC Securities Inc. bought a new position in shares of Heico in the first quarter worth approximately $27,000. Banque Transatlantique SA bought a new position in Heico in the 4th quarter valued at approximately $44,000. Atwood & Palmer Inc. bought a new position in Heico in the 1st quarter valued at approximately $80,000. SBI Securities Co. Ltd. purchased a new stake in Heico during the 4th quarter valued at $135,000. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of Heico by 252.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company's stock worth $158,000 after purchasing an additional 475 shares in the last quarter. Institutional investors own 27.12% of the company's stock.

Insider Buying and Selling

In other news, Director Julie Neitzel sold 700 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the transaction, the director now directly owns 418 shares in the company, valued at approximately $102,924.14. This represents a 62.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the firm's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the transaction, the director now directly owns 157,197 shares of the company's stock, valued at approximately $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,056 shares of company stock worth $22,699,941. 9.55% of the stock is owned by insiders.

Heico Stock Performance

Heico stock traded down $0.99 during midday trading on Tuesday, hitting $318.22. The stock had a trading volume of 397,895 shares, compared to its average volume of 480,853. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $322.03. The company has a market capitalization of $44.26 billion, a PE ratio of 74.35, a P/E/G ratio of 4.01 and a beta of 1.07. The firm's fifty day moving average is $276.89 and its two-hundred day moving average is $255.84.

Heico (NYSE:HEI - Get Free Report) last released its 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 company had revenue of $1.10 billion for the quarter, compared to analysts' expectations 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 in the previous year, the company earned $0.88 EPS. On average, research analysts forecast that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. The ex-dividend date is Tuesday, July 1st. This represents a dividend yield of 0.1%. This is a boost from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio (DPR) is presently 5.14%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. William Blair reissued an "outperform" rating on shares of Heico in a research report on Tuesday, March 25th. Stifel Nicolaus began coverage on shares of Heico in a research report on Tuesday. They set a "buy" rating and a $352.00 price objective on the stock. 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. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Wells Fargo & Company raised their price target on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $286.00.

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.