Praxis Investment Management Inc. Grows Stock Position in Heico Corporation (NYSE:HEI)

Praxis Investment Management Inc. raised its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 24.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.

A number of other institutional investors also recently added to or reduced their stakes in HEI. Wendell David Associates Inc. lifted its stake in shares of Heico by 137.3% in the 1st quarter. Wendell David Associates Inc. now owns 5,244 shares of the aerospace company's stock valued at $1,401,000 after purchasing an additional 3,034 shares during the period. Global Trust Asset Management LLC acquired a new stake in shares of Heico in the first quarter valued at approximately $502,000. Simon Quick Advisors LLC lifted its holdings in Heico by 31.9% during the 1st quarter. Simon Quick Advisors LLC now owns 1,385 shares of the aerospace company's stock worth $370,000 after purchasing an additional 335 shares during the last quarter. CX Institutional acquired a new stake in Heico during the 1st quarter worth approximately $216,000. Finally, Atwood & Palmer Inc. bought a new position in Heico during the 1st quarter worth $80,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HEI. Morgan Stanley boosted their price objective on Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Truist Financial dropped their price objective on Heico from $294.00 to $277.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. UBS Group upped their price target on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Wells Fargo & Company upped 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. Finally, Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $279.45.

Insider Activity

In other Heico news, Director Julie Neitzel sold 700 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the transaction, the director now directly owns 418 shares in the company, valued at $102,924.14. This represents a 62.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the company's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total value of $11,978,500.00. Following the completion of the transaction, the director now owns 157,197 shares of the company's stock, valued at $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 86,056 shares of company stock valued at $22,699,941 in the last ninety days. Corporate insiders own 9.55% of the company's stock.

Heico Price Performance

NYSE HEI traded up $4.39 during trading hours on Friday, reaching $315.47. 706,995 shares of the stock traded hands, compared to its average volume of 481,239. The stock has a 50 day simple moving average of $275.57 and a two-hundred day simple moving average of $255.54. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $317.03. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56. The company has a market cap of $43.88 billion, a price-to-earnings ratio of 73.71, a price-to-earnings-growth ratio of 4.01 and a beta of 1.07.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. The business's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. On average, analysts predict that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

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

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.