MinichMacGregor Wealth Management LLC Boosts Stock Holdings in Heico Corporation (NYSE:HEI)

MinichMacGregor Wealth Management LLC grew its position in Heico Corporation (NYSE:HEI - Free Report) by 10.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,475 shares of the aerospace company's stock after purchasing an additional 3,711 shares during the period. Heico makes up approximately 2.3% of MinichMacGregor Wealth Management LLC's holdings, making the stock its 14th largest holding. MinichMacGregor Wealth Management LLC's holdings in Heico were worth $10,280,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC grew its holdings in shares of Heico by 219,129.4% during the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after purchasing an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in Heico during the fourth quarter worth approximately $110,503,000. Fisher Asset Management LLC grew its position in Heico by 19.1% in the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company's stock worth $98,791,000 after buying an additional 66,583 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Heico by 2.3% during the 4th quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock valued at $88,244,000 after acquiring an additional 8,300 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new position in shares of Heico in the 4th quarter worth $71,030,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Heico

In other news, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total value of $172,361.00. Following the sale, the director now directly owns 418 shares in the company, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director now owns 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 86,056 shares of company stock worth $22,699,941. Company insiders own 9.55% of the company's stock.

Heico Stock Down 0.2%

Heico stock traded down $0.69 during mid-day trading on Wednesday, reaching $316.92. The company's stock had a trading volume of 298,208 shares, compared to its average volume of 480,316. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. The business's 50 day simple moving average is $279.63 and its 200 day simple moving average is $256.69. The company has a market capitalization of $44.08 billion, a price-to-earnings ratio of 74.05, a price-to-earnings-growth ratio of 4.04 and a beta of 1.07. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $320.01.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The firm had revenue of $1.10 billion for 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 company's quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current 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 issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, July 1st. This is a positive change from Heico's previous semi-annual dividend of $0.11. This represents a dividend yield of 0.1%. Heico's payout ratio is presently 5.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HEI. William Blair reissued an "outperform" rating on shares of Heico in a research note on Tuesday, March 25th. Wells Fargo & Company increased their price target on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Morgan Stanley lifted their price target on shares of Heico from $270.00 to $305.00 and gave the company 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. Finally, Stifel Nicolaus initiated coverage on shares of Heico in a report on Tuesday. They set a "buy" rating and a $352.00 price target for the company. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $286.00.

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.