Kingdon Capital Management L.L.C. Sells 15,000 Shares of Heico Corporation $HEI

Key Points

• Kingdon Capital Management L.L.C. reduced its holdings in Heico Corporation by 25.0%, ending with 45,000 shares valued at approximately $12.02 million during the first quarter.
• Heico recently reported earnings of $1.26 EPS, exceeding expectations, and announced a dividend increase from $0.11 to $0.12 per share, reflecting a 10.0% yield.
• Analysts have shown strong support for Heico, with nine ratings indicating a Buy and the average price target set at $340.18.

Kingdon Capital Management L.L.C. cut its holdings in Heico Corporation (NYSE:HEI - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 45,000 shares of the aerospace company's stock after selling 15,000 shares during the quarter. Heico comprises 1.3% of Kingdon Capital Management L.L.C.'s holdings, making the stock its 13th biggest position. Kingdon Capital Management L.L.C.'s holdings in Heico were worth $12,024,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Artemis Investment Management LLP bought a new stake in Heico in the 1st quarter valued at approximately $7,612,000. Baker Avenue Asset Management LP acquired a new stake in shares of Heico in the 1st quarter valued at approximately $345,000. Freedom Day Solutions LLC acquired a new stake in shares of Heico in the 1st quarter valued at approximately $2,653,000. Praxis Investment Management Inc. boosted its holdings in shares of Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock valued at $2,359,000 after buying an additional 1,760 shares during the last quarter. Finally, Vantage Investment Partners LLC boosted its holdings in shares of Heico by 1.1% in the 1st quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock valued at $43,324,000 after buying an additional 1,772 shares during the last quarter. Institutional investors own 27.12% of the company's stock.

Heico Price Performance

Shares of HEI stock traded up $2.26 on Thursday, hitting $321.10. 82,378 shares of the company's stock were exchanged, compared to its average volume of 512,524. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.56. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. The stock has a market cap of $44.67 billion, a P/E ratio of 70.21, a price-to-earnings-growth ratio of 3.85 and a beta of 1.08. The company has a 50 day moving average of $318.20 and a 200 day moving average of $284.41.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company earned $0.97 EPS. Heico's revenue for the quarter was up 15.7% on a year-over-year basis. On average, equities research analysts predict that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were given a dividend of $0.12 per share. The ex-dividend date was Tuesday, July 1st. This represents a dividend yield of 10.0%. This is an increase from Heico's previous semi-annual dividend of $0.11. Heico's dividend payout ratio is currently 5.25%.

Insider Buying and Selling at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was 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 directly owned 1,253,127 shares in the company, valued at $400,311,420.15. This represents a 4.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 9.55% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HEI has been the subject of several recent analyst reports. UBS Group increased their price objective on Heico from $346.00 to $375.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Jefferies Financial Group reissued a "buy" rating on shares of Heico in a report on Monday, August 18th. Stifel Nicolaus set a $360.00 price objective on Heico in a report on Tuesday, August 26th. Wells Fargo & Company increased their price objective on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Finally, Royal Bank Of Canada set a $350.00 price objective on Heico in a report on Wednesday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $342.00.

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.