Interval Partners LP Acquires Shares of 11,704 Heico Corporation $HEI

Key Points

• Interval Partners LP invested $3.13 million in Heico Corporation, acquiring 11,704 shares, which signals strong institutional interest in the aerospace company's stock.
• Wall Street analysts have provided optimistic price targets for Heico, with Bank of America raising its target from $355 to $400 and nine analysts now rating the stock as a "Buy."
• Heico announced a semi-annual dividend increase, raising it from $0.11 to $0.12, representing a 10.0% yield, further showcasing its financial strength.

Interval Partners LP acquired a new position in shares of Heico Corporation (NYSE:HEI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,704 shares of the aerospace company's stock, valued at approximately $3,127,000.

Other institutional investors have also recently bought and sold shares of the company. Brevan Howard Capital Management LP boosted its holdings in Heico by 42.1% during the fourth quarter. Brevan Howard Capital Management LP now owns 1,475 shares of the aerospace company's stock valued at $351,000 after acquiring an additional 437 shares during the period. Graham Capital Management L.P. boosted its stake in Heico by 122.5% during the 4th quarter. Graham Capital Management L.P. now owns 8,900 shares of the aerospace company's stock valued at $2,116,000 after purchasing an additional 4,900 shares during the period. Gotham Asset Management LLC grew its holdings in Heico by 34.5% in the 4th quarter. Gotham Asset Management LLC now owns 4,038 shares of the aerospace company's stock valued at $960,000 after buying an additional 1,036 shares during the last quarter. Hudson Bay Capital Management LP grew its holdings in Heico by 50.0% in the 4th quarter. Hudson Bay Capital Management LP now owns 15,000 shares of the aerospace company's stock valued at $3,566,000 after buying an additional 5,000 shares during the last quarter. Finally, Lagoda Investment Management L.P. increased its position in Heico by 34.1% in the 4th quarter. Lagoda Investment Management L.P. now owns 6,550 shares of the aerospace company's stock worth $1,557,000 after buying an additional 1,665 shares during the period. Institutional investors own 27.12% of the company's stock.

Heico Price Performance

Shares of NYSE:HEI traded down $1.39 during midday trading on Tuesday, reaching $315.99. 375,700 shares of the company's stock were exchanged, compared to its average volume of 513,499. The company's 50 day simple moving average is $317.91 and its two-hundred day simple moving average is $287.33. The firm has a market capitalization of $43.99 billion, a PE ratio of 69.15, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the firm earned $0.97 EPS. The firm's revenue for the quarter was up 15.7% compared to the same quarter last year. Equities research analysts expect 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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a yield of 10.0%. This is a positive change from Heico's previous semi-annual dividend of $0.11. Heico's payout ratio is 5.25%.

Analysts Set New Price Targets

HEI has been the topic of a number of recent research reports. Zacks Research raised Heico to a "hold" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. The Goldman Sachs Group restated a "buy" rating and set a $382.00 price target (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Royal Bank Of Canada set a $350.00 price target on Heico in a research note on Wednesday, August 27th. Finally, UBS Group boosted their price target on Heico from $346.00 to $375.00 and gave the company a "neutral" rating in a research note on Wednesday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Heico currently has an average rating of "Moderate Buy" and a consensus price target of $346.09.

Insider Transactions at Heico

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 9.55% of the company's stock.

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.