Mar Vista Investment Partners LLC Reduces Stock Position in Heico Corporation (NYSE:HEI)

Mar Vista Investment Partners LLC trimmed its holdings in Heico Corporation (NYSE:HEI - Free Report) by 16.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,429 shares of the aerospace company's stock after selling 22,344 shares during the quarter. Heico makes up about 2.4% of Mar Vista Investment Partners LLC's holdings, making the stock its 23rd biggest position. Mar Vista Investment Partners LLC owned 0.08% of Heico worth $29,506,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. purchased a new stake in shares of Heico in the first quarter valued at about $27,000. Banque Transatlantique SA purchased a new stake in Heico in the 4th quarter valued at approximately $44,000. Atwood & Palmer Inc. acquired a new position in Heico during the 1st quarter worth approximately $80,000. TD Private Client Wealth LLC raised its stake in shares of Heico by 37.5% during the 1st quarter. TD Private Client Wealth LLC now owns 458 shares of the aerospace company's stock worth $122,000 after buying an additional 125 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd lifted its holdings in shares of Heico by 252.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company's stock valued at $158,000 after buying an additional 475 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Morgan Stanley increased their price objective on Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Stifel Nicolaus set a $352.00 price objective on shares of Heico and gave the stock a "buy" rating in a report on Tuesday, June 24th. Truist Financial increased their target price on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a report on Friday. Finally, UBS Group upped their price target on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $299.18.

Insider Transactions at Heico

In related news, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the sale, the director directly owned 418 shares in the company, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Frank J. Schwitter sold 356 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director directly owned 1,500 shares of the company's stock, valued at $448,650. This trade represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 86,056 shares of company stock worth $22,699,941 in the last three months. 9.55% of the stock is currently owned by company insiders.

Heico Price Performance

Heico stock traded up $7.00 during midday trading on Monday, reaching $321.81. 460,402 shares of the company were exchanged, compared to its average volume of 539,629. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $328.64. The company has a market capitalization of $44.76 billion, a price-to-earnings ratio of 75.19, a P/E/G ratio of 3.92 and a beta of 1.08. The firm's 50-day simple moving average is $297.26 and its 200-day simple moving average is $262.91. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The business's quarterly revenue was up 14.9% compared to the same quarter last year. On average, analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be issued a $0.12 dividend. This represents a dividend yield of 0.1%. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Tuesday, July 1st. Heico's dividend payout ratio (DPR) is 5.61%.

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.