Quantbot Technologies LP Invests $5.52 Million in Heico Corporation $HEI

Key Points

• Quantbot Technologies LP has acquired 20,653 shares of Heico Corporation, valued at approximately $5.5 million, marking a significant new stake in the aerospace company.
• Heico's stock has various research reports projecting target prices between $278.00 and $330.00, with a consensus rating of "Moderate Buy" and a price target of $301.45.
• Insider selling has occurred, including Chairman Laurans A. Mendelson selling shares worth nearly $18 million, which represents a 4.30% decrease in his ownership position.

Quantbot Technologies LP bought a new position in shares of Heico Corporation (NYSE:HEI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,653 shares of the aerospace company's stock, valued at approximately $5,518,000.

Other large investors have also modified their holdings of the company. Ridgewood Investments LLC grew its holdings in shares of Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock worth $26,000 after buying an additional 46 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Heico in the first quarter valued at about $27,000. NBC Securities Inc. purchased a new stake in shares of Heico in the first quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after purchasing an additional 178 shares during the period. Finally, Banque Transatlantique SA purchased a new stake in shares of Heico in the fourth quarter valued at about $44,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HEI. Bank of America upped 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. 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. Truist Financial upped 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. Zacks Research raised shares of Heico to a "hold" rating in a report on Monday, August 11th. Finally, UBS Group upped their price objective on shares of Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Nine research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Heico currently has an average rating of "Moderate Buy" and an average target price of $307.18.

Insider Buying and Selling at Heico

In other Heico news, Director Frank J. Schwitter sold 356 shares of the company's 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 transaction, the director 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 SEC, which is available through this link. Also, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the sale, the chairman directly owned 1,253,127 shares in the company, valued at $400,311,420.15. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,656 shares of company stock valued at $28,534,115 over the last 90 days. 9.55% of the stock is owned by insiders.

Heico Trading Up 0.7%

NYSE HEI traded up $2.1480 during trading hours on Friday, reaching $309.8680. The company had a trading volume of 422,138 shares, compared to its average volume of 419,875. The stock has a 50-day moving average of $317.63 and a 200 day moving average of $280.28. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $43.10 billion, a P/E ratio of 72.40, a price-to-earnings-growth ratio of 3.85 and a beta of 1.11.

Heico (NYSE:HEI - Get Free Report) last posted its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. Heico's revenue for the quarter 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 announced a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This is an increase from Heico's previous semi-annual dividend of $0.11. This represents a yield of 10.0%. 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.