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Sumitomo Life Insurance Co. Purchases Shares of 2,547 Heico Corporation (NYSE:HEI)

Heico logo with Aerospace background

Sumitomo Life Insurance Co. bought a new position in Heico Corporation (NYSE:HEI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,547 shares of the aerospace company's stock, valued at approximately $681,000.

Several other institutional investors have also recently made changes to their positions in the company. Bain Capital Public Equity Management II LLC bought a new position in Heico during the fourth quarter valued at about $110,503,000. EULAV Asset Management grew its position in Heico by 1.8% during the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock valued at $123,360,000 after buying an additional 8,000 shares during the period. Two Sigma Advisers LP grew its position in Heico by 2.3% during the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company's stock valued at $88,244,000 after buying an additional 8,300 shares during the period. Freestone Grove Partners LP bought a new position in Heico during the fourth quarter valued at about $71,030,000. Finally, Vantage Investment Partners LLC grew its position in Heico by 1.1% during the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock valued at $43,324,000 after buying an additional 1,772 shares during the period. Institutional investors own 27.12% of the company's stock.

Heico Price Performance

Shares of Heico stock traded up $0.36 on Friday, reaching $321.40. The stock had a trading volume of 189,336 shares, compared to its average volume of 480,955. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $328.64. The company has a market cap of $44.71 billion, a P/E ratio of 75.14, a price-to-earnings-growth ratio of 3.98 and a beta of 1.08. 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 business's 50 day moving average is $301.57 and its two-hundred day moving average is $264.80.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the firm posted $0.88 earnings per share. The company's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HEI. Bank of America increased their price target on shares of Heico from $320.00 to $355.00 and gave the company a "buy" rating in a research report on Thursday, July 3rd. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a report on Friday, June 6th. William Blair reaffirmed an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. 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. Finally, Morgan Stanley upped their price objective on shares of Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a report on Thursday. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $301.45.

View Our Latest Report on HEI

Insider Activity

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julie Neitzel sold 700 shares of the company's stock in a transaction that occurred on 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 owned 418 shares in the company, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 142,356 shares of company stock valued at $40,684,976. Corporate insiders own 9.55% of the company's stock.

About Heico

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Heico (NYSE:HEI)

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