PDT Partners LLC Buys New Shares in Heico Corporation $HEI

PDT Partners LLC bought a new position in shares of Heico Corporation (NYSE:HEI - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,971 shares of the aerospace company's stock, valued at approximately $3,908,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. IFC & Insurance Marketing Inc. acquired a new stake in shares of Heico in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC raised its stake in Heico by 1,000.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock worth $28,000 after buying an additional 80 shares during the period. Birchwood Financial Partners Inc. acquired a new position in Heico during the 4th quarter worth approximately $32,000. Miller Capital Partners Inc. bought a new position in Heico in the fourth quarter worth approximately $70,000. Finally, Osterweis Capital Management Inc. acquired a new position in shares of Heico during the second quarter worth approximately $81,000. 27.12% of the stock is owned by institutional investors.

More Heico News

Here are the key news stories impacting Heico this week:

• Positive Sentiment: HEICO’s third-quarter revenue rose 23% year over year to $1.41 billion, exceeding the $1.35 billion consensus estimate. Earnings per share reached $1.67, beating expectations of $1.51 and increasing from $1.26 a year earlier. HEICO Corporation Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Profitability was especially strong: net income increased 33% to a record $235.4 million, while operating income climbed 34%. Consolidated organic sales growth reached 14%, indicating that gains extended beyond acquisitions. HEICO Reports Record Fiscal Third-Quarter Results
• Positive Sentiment: HEICO subsidiary VPT expanded distribution through DigiKey for its military, avionics and space power-conversion products. The move could improve product accessibility and support future sales, although the near-term financial effect is likely limited. VPT Products Now Available on DigiKey
• Neutral Sentiment: The quarterly beat was driven by continued aerospace and defense demand, along with acquisitions. Investors will likely focus on whether HEICO can sustain its growth rate and margins in coming quarters. HEICO Third-Quarter Revenue Climbs
• Negative Sentiment: Despite the earnings beat, HEI trades at a high valuation, with a price-to-earnings ratio near 62 and a price-to-earnings-growth ratio of 3.56. That premium may be encouraging profit-taking and raising the bar for future earnings surprises.

Insider Activity

In related news, CAO Bradley K. Rowen sold 1,326 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HEI. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the company a "buy" rating in a research report on Wednesday, May 13th. Truist Financial upgraded shares of Heico to a "strong-buy" rating in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $421.00 price objective on shares of Heico and gave the company a "buy" rating in a report on Wednesday, August 19th. Citigroup restated a "buy" rating and issued a $429.00 target price (up from $410.00) on shares of Heico in a report on Thursday, August 13th. Finally, Zacks Research raised shares of Heico from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $378.29.

Heico Stock Performance

HEI stock opened at $346.82 on Thursday. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The firm has a market cap of $48.44 billion, a PE ratio of 57.71, a P/E/G ratio of 3.54 and a beta of 1.04. The business has a 50 day moving average of $353.86 and a 200-day moving average of $321.38. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. The firm had revenue of $1.41 billion for the quarter, compared to analysts' expectations of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.41%. The company's quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, sell-side analysts expect that Heico Corporation will post 6.02 earnings per share for the current year.

Heico Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico's payout ratio is currently 4.64%.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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