Navellier & Associates Inc. Sells 807 Shares of Heico Corporation (NYSE:HEI)

Key Points

• Navellier & Associates Inc. reduced its holdings in Heico Corporation by 25.6%, owning 2,351 shares after selling 807 shares in the first quarter, valued at approximately $622,000.
• Heico's Chairman, Laurans A. Mendelson, sold 56,300 shares for about $17.99 million, resulting in a decrease of 4.30% in his ownership stake.
• Heico recently announced a semi-annual dividend increase from $0.11 to $0.12 per share, with a payout ratio of 5.61% and a yield of 0.1%.

Navellier & Associates Inc. decreased its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 25.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 2,351 shares of the aerospace company's stock after selling 807 shares during the period. Navellier & Associates Inc.'s holdings in Heico were worth $622,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. NBC Securities Inc. bought a new stake in Heico in the 1st quarter valued at about $27,000. Banque Transatlantique SA bought a new stake in Heico in the 4th quarter valued at about $44,000. Atwood & Palmer Inc. bought a new stake in Heico in the 1st quarter valued at about $80,000. TD Private Client Wealth LLC boosted its holdings in Heico by 37.5% in the 1st quarter. TD Private Client Wealth LLC now owns 458 shares of the aerospace company's stock valued at $122,000 after purchasing an additional 125 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in Heico by 14.9% in the 1st quarter. SBI Securities Co. Ltd. now owns 654 shares of the aerospace company's stock valued at $175,000 after purchasing an additional 85 shares during the period. Institutional investors own 27.12% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Barclays set a $280.00 price objective on shares of Heico and gave the company an "equal weight" rating in a report on Monday, June 2nd. Bank of America boosted their price objective on shares of Heico from $320.00 to $355.00 and gave the company a "buy" rating in a report on Thursday, July 3rd. Stifel Nicolaus set a $352.00 price objective on shares of Heico and gave the company a "buy" rating in a report on Tuesday, June 24th. Truist Financial boosted their price objective on shares of Heico from $323.00 to $352.00 and gave the company a "buy" rating in a report on Friday, July 11th. Finally, Morgan Stanley upped their price target on shares of Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $301.45.

Insider Buying and Selling

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the firm's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the transaction, the chairman owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the firm's stock in a transaction 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 transaction, the director directly owned 1,500 shares of the company's stock, valued at $448,650. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,656 shares of company stock worth $28,534,115 in the last three months. 9.55% of the stock is owned by corporate insiders.

Heico Price Performance

HEI stock traded up $2.28 during trading on Wednesday, reaching $325.79. 65,698 shares of the company were exchanged, compared to its average volume of 518,469. The company has a 50-day moving average of $309.34 and a two-hundred day moving average of $270.00. The company has a market capitalization of $45.32 billion, a price-to-earnings ratio of 76.16, a P/E/G ratio of 4.03 and a beta of 1.08. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $328.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56.

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

Heico Increases Dividend

The business 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. This represents a yield of 0.1%. This is a boost from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, July 1st. Heico's dividend payout ratio is currently 5.61%.

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.