Lansforsakringar Fondforvaltning AB publ Sells 1,801 Shares of Heico Corporation $HEI

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its holdings in Heico Corporation by 11.0%, now owning 14,509 shares valued at approximately $3.88 million.
• Heico recently reported a 15.7% year-over-year increase in revenue, bringing in $1.15 billion and exceeding analyst expectations.
• The company declared a boosted semi-annual dividend of $0.12 per share, increasing from the previous $0.11, with a payout ratio of 5.25%.

Lansforsakringar Fondforvaltning AB publ reduced its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 11.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,509 shares of the aerospace company's stock after selling 1,801 shares during the quarter. Lansforsakringar Fondforvaltning AB publ's holdings in Heico were worth $3,877,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Artemis Investment Management LLP acquired a new stake in Heico during the 1st quarter valued at $7,612,000. Baker Avenue Asset Management LP acquired a new stake in Heico during the 1st quarter valued at $345,000. Freedom Day Solutions LLC acquired a new stake in Heico during the 1st quarter valued at $2,653,000. Praxis Investment Management Inc. raised its stake in Heico by 24.9% during the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock valued at $2,359,000 after purchasing an additional 1,760 shares during the period. Finally, Vantage Investment Partners LLC raised its stake in Heico by 1.1% during the 1st quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock valued at $43,324,000 after purchasing an additional 1,772 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HEI has been the topic of several recent analyst reports. Wells Fargo & Company boosted their target price on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Truist Financial boosted their target price on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Jefferies Financial Group restated a "buy" rating on shares of Heico in a report on Monday, August 18th. 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 report on Wednesday, August 27th. Finally, Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Nine research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $346.09.

Insider Transactions 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 shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the sale, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.55% of the company's stock.

Heico Stock Up 0.1%

NYSE:HEI traded up $0.20 during trading hours on Friday, reaching $322.49. The company's stock had a trading volume of 491,647 shares, compared to its average volume of 430,384. The company has a market cap of $44.86 billion, a price-to-earnings ratio of 70.57, a price-to-earnings-growth ratio of 3.94 and a beta of 1.08. Heico Corporation has a one year low of $216.68 and a one year high of $338.92. The business's 50-day moving average is $318.13 and its 200-day moving average is $286.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51.

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

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.