Sawgrass Asset Management LLC Sells 1,080 Shares of Heico Corporation (NYSE:HEI)

Sawgrass Asset Management LLC decreased its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,892 shares of the aerospace company's stock after selling 1,080 shares during the quarter. Sawgrass Asset Management LLC's holdings in Heico were worth $6,651,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC boosted its stake in Heico by 5.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company's stock valued at $231,000 after purchasing an additional 46 shares during the last quarter. Moran Wealth Management LLC boosted its position in shares of Heico by 1.9% during the fourth quarter. Moran Wealth Management LLC now owns 2,687 shares of the aerospace company's stock valued at $639,000 after buying an additional 51 shares during the last quarter. United Capital Financial Advisors LLC increased its holdings in Heico by 5.7% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock worth $248,000 after buying an additional 56 shares in the last quarter. Bradley Foster & Sargent Inc. CT raised its position in Heico by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock worth $667,000 after buying an additional 67 shares during the last quarter. Finally, PFG Advisors lifted its stake in Heico by 0.8% during the 4th quarter. PFG Advisors now owns 8,960 shares of the aerospace company's stock valued at $2,130,000 after acquiring an additional 70 shares during the period. 27.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Heico news, Director Alan Schriesheim sold 35,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total value of $10,442,600.00. Following the sale, the director now owns 122,197 shares in the company, valued at $36,458,696.92. The trade was a 22.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of Heico 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 completion of the sale, the director now directly owns 1,500 shares in the company, valued at $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,056 shares of company stock valued at $22,699,941. Corporate insiders own 9.55% of the company's stock.

Heico Price Performance

NYSE:HEI traded down $0.99 during trading hours on Tuesday, hitting $318.22. 397,895 shares of the stock traded hands, compared to its average volume of 481,104. The stock has a 50 day moving average price of $278.24 and a 200 day moving average price of $256.27. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The company has a market cap of $44.26 billion, a price-to-earnings ratio of 74.35, a price-to-earnings-growth ratio of 4.06 and a beta of 1.07. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $322.03.

Heico (NYSE:HEI - Get Free Report) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. Heico's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. 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 will be paid on Tuesday, July 15th. Investors 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 of this dividend is Tuesday, July 1st. This is an increase from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio (DPR) is 5.14%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Truist Financial decreased their price objective on shares of Heico from $294.00 to $277.00 and set a "buy" rating for the company in a report on Thursday, April 17th. UBS Group increased their price target on Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Stifel Nicolaus initiated coverage on Heico in a report on Tuesday. They issued a "buy" rating and a $352.00 price objective for the company. William Blair reissued an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Finally, Wells Fargo & Company boosted their price target on Heico from $244.00 to $278.00 and gave the company 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's stock. According to MarketBeat, Heico currently has a consensus rating of "Moderate Buy" and an average price target of $286.00.

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.