Safeguard Investment Advisory Group LLC Acquires New Holdings in Heico Corporation $HEI

Key Points

• Safeguard Investment Advisory Group acquired 6,541 shares of HEICO worth approximately $2.33 million, making the aerospace company about 0.5% of its portfolio. Institutional investors and hedge funds collectively own 27.12% of HEICO.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $395.71; individual targets range from $350 to $430.
• HEICO exceeded quarterly expectations, reporting adjusted earnings of $1.67 per share versus the $1.51 consensus and revenue of $1.41 billion, up 23.1% year over year.

Safeguard Investment Advisory Group LLC bought a new stake in Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,541 shares of the aerospace company's stock, valued at approximately $2,330,000. Heico makes up about 0.5% of Safeguard Investment Advisory Group LLC's investment portfolio, making the stock its 25th largest position.

Other hedge funds also recently bought and sold shares of the company. Nykredit A S bought a new position in shares of Heico during the second quarter worth $14,163,000. Flputnam Investment Management Co. bought a new stake in shares of Heico in the 2nd quarter valued at $214,000. Rational Advisors Inc. raised its stake in Heico by 15.0% during the 2nd quarter. Rational Advisors Inc. now owns 4,600 shares of the aerospace company's stock worth $1,638,000 after buying an additional 600 shares during the period. Navellier & Associates Inc. raised its stake in Heico by 24.2% during the 2nd quarter. Navellier & Associates Inc. now owns 2,564 shares of the aerospace company's stock worth $913,000 after buying an additional 500 shares during the period. Finally, Archer Investment Corp bought a new position in Heico during the second quarter worth about $333,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HEI has been the subject of several recent analyst reports. Susquehanna increased their price target on Heico from $321.00 to $365.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. UBS Group reiterated a "neutral" rating and set a $396.00 price objective (up from $382.00) on shares of Heico in a report on Thursday, August 27th. Stifel Nicolaus set a $410.00 price objective on Heico in a research report on Thursday, August 27th. Jefferies Financial Group set a $430.00 target price on Heico and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Finally, Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the stock an "equal weight" rating in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and a consensus target price of $395.71.

Insider Buying and Selling at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the firm'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 Securities & Exchange Commission, which can be accessed through this link. 4.86% of the stock is owned by corporate insiders.

Heico Stock Performance

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 P/E/G ratio of 3.17 and a beta of 1.04. The business's 50-day moving average price is $353.38 and its two-hundred day moving average price is $321.57. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. 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 (NYSE:HEI - Get Free Report) last posted its quarterly earnings data 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. Heico had a return on equity of 18.00% and a net margin of 16.38%.The company had revenue of $1.41 billion during the quarter, compared to analysts' expectations of $1.36 billion. During the same period in the prior year, the firm earned $1.26 earnings per share. Heico's revenue for the quarter was up 23.1% compared to the same quarter last year. Equities analysts expect that Heico Corporation will post 6.13 EPS for the current fiscal year.

Heico Announces Dividend

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

Heico Company 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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