Perigon Wealth Management LLC Takes Position in Heico Corporation $HEI

Key Points

• Perigon Wealth Management purchased 4,665 shares of Heico in the second quarter, valued at approximately $1.66 million. Institutional investors collectively own 27.12% of the company.
• Heico reported quarterly EPS of $1.66, beating estimates by $0.33, while revenue rose 25.3% year over year to $1.38 billion.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $376.69; shares recently opened at $370.69.

Perigon Wealth Management LLC purchased a new stake in Heico Corporation (NYSE:HEI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,665 shares of the aerospace company's stock, valued at approximately $1,662,000.

Other institutional investors have also recently bought and sold shares of the company. Maridea Wealth Management LLC acquired a new stake in shares of Heico in the 2nd quarter valued at $1,128,000. Indivisible Partners acquired a new position in shares of Heico during the fourth quarter valued at $5,883,000. PFA Pension Forsikringsaktieselskab bought a new position in Heico in the fourth quarter valued at about $8,395,000. SBI Okasan Asset Management Co.Ltd. bought a new position in Heico in the second quarter valued at about $1,262,000. Finally, CPC Advisors LLC increased its position in Heico by 208.4% in the first quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company's stock worth $2,519,000 after purchasing an additional 6,208 shares during the period. Institutional investors own 27.12% of the company's stock.

Heico Stock Down 1.1%

Shares of HEI stock opened at $370.69 on Tuesday. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. The firm has a fifty day moving average of $350.63 and a 200-day moving average of $320.08. The company has a market capitalization of $51.77 billion, a price-to-earnings ratio of 66.19, a P/E/G ratio of 3.88 and a beta of 1.04.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion for the quarter, compared to analysts' expectations of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm's revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. As a group, equities research analysts predict that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Dividend Announcement

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

Insider Activity

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.86% of the company's stock.

Wall Street Analyst Weigh In

HEI has been the subject of several recent research reports. Morgan Stanley set a $370.00 price objective on Heico in a report on Wednesday, July 15th. Citigroup reaffirmed a "buy" rating and issued a $429.00 target price (up from $410.00) on shares of Heico in a research note on Thursday. UBS Group reiterated a "neutral" rating and set a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Zacks Research upgraded shares of Heico from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 9th. Finally, Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the company an "equal weight" rating in a research note on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $376.69.

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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