Heico Corporation (NYSE:HEI) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 806,314 shares of the aerospace company's stock after selling 60,611 shares during the quarter. Heico comprises about 3.5% of Riverbridge Partners LLC's portfolio, making the stock its 2nd biggest position. Riverbridge Partners LLC owned 0.58% of Heico worth $215,439,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HEI. Wealthfront Advisers LLC boosted its stake in shares of Heico by 219,129.4% during the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after purchasing an additional 22,224,106 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in shares of Heico in the 4th quarter valued at $110,503,000. Fisher Asset Management LLC raised its position in shares of Heico by 19.1% in the 4th quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company's stock worth $98,791,000 after acquiring an additional 66,583 shares in the last quarter. Two Sigma Advisers LP raised its position in shares of Heico by 2.3% in the 4th quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock worth $88,244,000 after acquiring an additional 8,300 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new position in shares of Heico in the 4th quarter worth $71,030,000. 27.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently commented on HEI shares. Morgan Stanley boosted their price target on Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. William Blair reissued an "outperform" rating on shares of Heico in a research report on Tuesday, March 25th. UBS Group boosted their price target on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Barclays set a $280.00 price target on Heico and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. Finally, Truist Financial dropped their target price on Heico from $294.00 to $277.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Heico currently has an average rating of "Moderate Buy" and a consensus target price of $279.45.

Insider Transactions at Heico

In other news, Director Frank J. Schwitter sold 356 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the sale, the director now owns 1,500 shares in the company, valued at $448,650. This represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the company's stock in a transaction dated 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 sale, the director now owns 157,197 shares in the company, valued at $37,659,685.29. The trade was a 24.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 86,056 shares of company stock worth $22,699,941 over the last quarter. 9.55% of the stock is currently owned by insiders.

Heico Stock Performance

Heico stock traded up $4.39 during trading hours on Friday, hitting $315.47. 706,995 shares of the stock traded hands, compared to its average volume of 481,328. 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 firm's 50 day moving average price is $275.57 and its 200-day moving average price is $255.64. The stock has a market capitalization of $43.88 billion, a price-to-earnings ratio of 73.71, a P/E/G ratio of 3.96 and a beta of 1.07. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $317.03.

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 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 the consensus estimate of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. As a group, equities analysts expect that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be paid a dividend of $0.12 per share. This represents a yield of 0.1%. The ex-dividend date is Tuesday, July 1st. This is an increase from Heico's previous semi-annual dividend of $0.11. Heico's payout ratio is presently 5.14%.

Heico 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.