Private Advisor Group LLC Has $4.98 Million Holdings in Heico Corporation (NYSE:HEI)

Private Advisor Group LLC lifted its stake in Heico Corporation (NYSE:HEI - Free Report) by 67.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,654 shares of the aerospace company's stock after buying an additional 7,500 shares during the period. Private Advisor Group LLC's holdings in Heico were worth $4,984,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HEI. United Capital Financial Advisors LLC boosted its position in Heico by 5.7% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock valued at $248,000 after buying an additional 56 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Heico by 1.2% in the 4th quarter. Benjamin Edwards Inc. now owns 5,822 shares of the aerospace company's stock worth $1,384,000 after purchasing an additional 70 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Heico by 1.1% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,586 shares of the aerospace company's stock worth $1,760,000 after purchasing an additional 73 shares during the last quarter. Orion Portfolio Solutions LLC boosted its position in shares of Heico by 8.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 1,020 shares of the aerospace company's stock worth $242,000 after purchasing an additional 76 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Heico by 5.2% in the 4th quarter. Tidal Investments LLC now owns 1,638 shares of the aerospace company's stock worth $389,000 after purchasing an additional 81 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Heico

In related news, Director Frank J. Schwitter sold 356 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the transaction, the director directly owned 1,500 shares of the company's stock, valued at $448,650. This represents a 19.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Julie Neitzel sold 700 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the transaction, the director directly owned 418 shares of the company's stock, valued at approximately $102,924.14. The trade was a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,356 shares of company stock valued at $28,706,476. Company insiders own 9.55% of the company's stock.

Heico Price Performance

Shares of NYSE HEI opened at $319.73 on Tuesday. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $328.64. The stock has a market cap of $44.47 billion, a price-to-earnings ratio of 75.34, a PEG ratio of 4.02 and a beta of 1.08. 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 firm's 50-day simple moving average is $302.74 and its 200 day simple moving average is $265.77.

Heico (NYSE:HEI - Get Free Report) last issued 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business posted $0.88 EPS. Heico'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 fiscal year.

Heico Increases Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a dividend of $0.12 per share. This is an increase from Heico's previous semi-annual dividend of $0.11. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Tuesday, July 1st. Heico's payout ratio is currently 5.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HEI. Truist Financial boosted their price target on Heico from $323.00 to $352.00 and gave the company a "buy" rating in a report on Friday, July 11th. Wells Fargo & Company boosted their price target on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Barclays set a $280.00 price target on Heico and gave the company an "equal weight" rating in a report on Monday, June 2nd. William Blair reaffirmed an "outperform" rating on shares of Heico in a research report on Tuesday, March 25th. Finally, Bank of America lifted their target price on Heico from $320.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $301.45.

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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