Jennison Associates LLC Reduces Holdings in Heico Corporation (NYSE:HEI)

Jennison Associates LLC lowered its holdings in Heico Corporation (NYSE:HEI - Free Report) by 46.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,804 shares of the aerospace company's stock after selling 93,391 shares during the period. Jennison Associates LLC owned approximately 0.08% of Heico worth $29,071,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. NBC Securities Inc. bought a new stake in shares of Heico during the 1st 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. acquired a new position in Heico in the 1st quarter valued at approximately $80,000. TD Private Client Wealth LLC increased its position in Heico by 37.5% in the 1st quarter. TD Private Client Wealth LLC now owns 458 shares of the aerospace company's stock valued at $122,000 after acquiring an additional 125 shares during the period. Finally, SBI Securities Co. Ltd. increased its position in Heico by 14.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 654 shares of the aerospace company's stock valued at $175,000 after acquiring an additional 85 shares during the period. Institutional investors own 27.12% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on HEI shares. Truist Financial increased their price objective on shares of Heico from $323.00 to $352.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. UBS Group increased their price objective on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Wells Fargo & Company raised their price target on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Finally, Bank of America raised their price target on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $301.45.

Insider Buying and Selling at Heico

In related news, Director Frank J. Schwitter sold 356 shares of the stock in a transaction 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 transaction, the director owned 1,500 shares of the company's stock, valued at approximately $448,650. This trade represents a 19.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie Neitzel sold 700 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the transaction, the director directly owned 418 shares in the company, valued at approximately $102,924.14. This represents a 62.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,356 shares of company stock valued at $28,706,476. 9.55% of the stock is owned by corporate insiders.

Heico Stock Performance

HEI stock traded up $3.46 during mid-day trading on Wednesday, hitting $319.86. The company had a trading volume of 62,565 shares, compared to its average volume of 479,542. The firm has a market cap of $44.49 billion, a PE ratio of 74.73, a price-to-earnings-growth ratio of 3.97 and a beta of 1.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $328.64. The stock's fifty day moving average price is $304.73 and its two-hundred day moving average price is $266.69.

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

Heico Increases Dividend

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

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.