Public Employees Retirement System of Ohio Purchases Shares of 21,699 Heico Corporation $HEI

Key Points

• Public Employees Retirement System of Ohio initiated a position in HEICO during the second quarter, purchasing 21,699 shares valued at approximately $5.6 million. Institutional investors and hedge funds collectively own 27.12% of the company.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $395.71. Recent upgrades and target increases include RBC’s move to a $390 target and Goldman Sachs’ $491 objective.
• HEICO reported better-than-expected quarterly results, with EPS of $1.67 versus a $1.51 estimate and revenue of $1.41 billion, up 23.1% year over year. Shares opened at $322.69, below their 52-week high of $376.86.

Public Employees Retirement System of Ohio purchased a new position in shares of Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,699 shares of the aerospace company's stock, valued at approximately $5,596,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. IFC & Insurance Marketing Inc. acquired a new stake in Heico during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted its position in Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company's stock valued at $28,000 after buying an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. acquired a new position in Heico during the fourth quarter valued at approximately $32,000. Miller Capital Partners Inc. purchased a new stake in Heico during the fourth quarter worth approximately $70,000. Finally, BNP Paribas purchased a new stake in Heico during the fourth quarter worth approximately $79,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on HEI shares. Royal Bank Of Canada lifted their target price on shares of Heico from $375.00 to $390.00 and gave the company an "outperform" rating in a report on Friday, May 29th. Zacks Research upgraded Heico from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 9th. Weiss Ratings raised Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. The Goldman Sachs Group restated a "buy" rating and set a $491.00 price objective on shares of Heico in a research note on Monday. Finally, Morgan Stanley set a $365.00 target price on Heico and gave the stock an "equal weight" rating in a research report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and a consensus price target of $395.71.

Heico Trading Down 0.8%

NYSE HEI opened at $322.69 on Thursday. The company has a market capitalization of $45.07 billion, a price-to-earnings ratio of 53.69, a price-to-earnings-growth ratio of 3.17 and a beta of 1.04. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. Heico Corporation has a 12 month low of $256.11 and a 12 month high of $376.86. The company's fifty day moving average price is $353.38 and its two-hundred day moving average price is $321.57.

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, topping the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The company's revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.26 EPS. As a group, research analysts predict that Heico Corporation will post 6.13 earnings per share for the current fiscal year.

Heico Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were paid a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico's dividend payout ratio is presently 4.33%.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.86% of the stock is currently owned by corporate insiders.

Heico Profile

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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