MinichMacGregor Wealth Management LLC Acquires 3,711 Shares of Heico Corporation (NYSE:HEI)

MinichMacGregor Wealth Management LLC boosted its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,475 shares of the aerospace company's stock after buying an additional 3,711 shares during the quarter. Heico makes up about 2.3% of MinichMacGregor Wealth Management LLC's investment portfolio, making the stock its 14th largest holding. MinichMacGregor Wealth Management LLC's holdings in Heico were worth $10,280,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in shares of Heico during the 1st quarter valued at approximately $27,000. Banque Transatlantique SA bought a new position in shares of Heico in the fourth quarter worth approximately $44,000. Atwood & Palmer Inc. purchased a new stake in shares of Heico in the first quarter worth $80,000. SBI Securities Co. Ltd. bought a new stake in shares of Heico during the 4th quarter valued at $135,000. Finally, Aster Capital Management DIFC Ltd raised its position in shares of Heico by 252.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company's stock valued at $158,000 after purchasing an additional 475 shares during the period. 27.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HEI has been the subject of several recent analyst reports. Barclays set a $280.00 target price on shares of Heico and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Morgan Stanley lifted their target price on Heico from $270.00 to $305.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 4th. UBS Group upped their price target on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, Truist Financial cut their price objective on shares of Heico from $294.00 to $277.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and an average price target of $279.45.

Insider Activity

In other news, Director Julie Neitzel sold 700 shares of the stock in a transaction 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 owns 418 shares of the company's stock, valued at approximately $102,924.14. This represents a 62.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Frank J. Schwitter sold 356 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director now owns 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. In the last 90 days, insiders have sold 86,056 shares of company stock valued at $22,699,941. 9.55% of the stock is currently owned by insiders.

Heico Price Performance

Heico stock opened at $315.47 on Friday. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $317.03. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The firm's fifty day moving average is $275.57 and its 200 day moving average is $255.54. The company has a market cap of $43.88 billion, a price-to-earnings ratio of 73.71, a PEG ratio of 4.01 and a beta of 1.07.

Heico (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $1.06 billion. During the same period in the prior year, the company earned $0.88 EPS. The business's revenue was up 14.9% compared to the same quarter last year. Sell-side analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a $0.12 dividend. This represents a dividend yield of 0.1%. This is a positive change 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 presently 5.14%.

Heico Company 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.

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