Jennison Associates LLC Sells 93,391 Shares of Heico Corporation (NYSE:HEI)

Jennison Associates LLC decreased its position in Heico Corporation (NYSE:HEI - Free Report) by 46.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,804 shares of the aerospace company's stock after selling 93,391 shares during the quarter. Jennison Associates LLC owned approximately 0.08% of Heico worth $29,071,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new position in Heico during the 1st quarter worth about $27,000. Banque Transatlantique SA acquired a new stake in shares of Heico in the 4th quarter valued at approximately $44,000. Atwood & Palmer Inc. acquired a new stake in Heico during the 1st quarter worth approximately $80,000. TD Private Client Wealth LLC raised its holdings in Heico by 37.5% during the 1st quarter. TD Private Client Wealth LLC now owns 458 shares of the aerospace company's stock worth $122,000 after buying an additional 125 shares during the period. Finally, SBI Securities Co. Ltd. raised its holdings in Heico by 14.9% during the 1st quarter. SBI Securities Co. Ltd. now owns 654 shares of the aerospace company's stock worth $175,000 after buying an additional 85 shares during the period. Institutional investors own 27.12% of the company's stock.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of recent research reports. Stifel Nicolaus set a $352.00 price objective on shares of Heico and gave the company a "buy" rating in a report on Tuesday, June 24th. Morgan Stanley raised their target price on shares of Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a research note on Thursday. Truist Financial raised their target price on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wells Fargo & Company raised their target price on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Finally, Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $301.45.

Heico Price Performance

Shares of NYSE:HEI traded down $2.71 on Monday, hitting $319.73. The company's stock had a trading volume of 293,996 shares, compared to its average volume of 532,191. The company has a 50-day simple moving average of $302.74 and a 200 day simple moving average of $265.77. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $328.64. The company has a market capitalization of $44.47 billion, a PE ratio of 74.70, a PEG ratio of 4.02 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.88 EPS. Heico's revenue for the quarter was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This is a boost from Heico's previous semi-annual dividend of $0.11. This represents a dividend yield of 0.1%. Heico's payout ratio is 5.61%.

Insider Transactions at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the firm's 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 $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the transaction, the director 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. Over the last ninety days, insiders have sold 142,356 shares of company stock valued at $40,684,976. Company insiders own 9.55% of the company's stock.

Heico Company Profile

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.