Value Partners Investments Inc. Buys New Shares in Heico Corporation (NYSE:HEI)

Value Partners Investments Inc. acquired a new stake in Heico Corporation (NYSE:HEI - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,261 shares of the aerospace company's stock, valued at approximately $604,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in Heico in the first quarter valued at about $27,000. Banque Transatlantique SA bought a new position in shares of Heico during the fourth quarter valued at approximately $44,000. Atwood & Palmer Inc. bought a new position in shares of Heico during the first quarter valued at approximately $80,000. SBI Securities Co. Ltd. bought a new position in shares of Heico during the fourth quarter valued at approximately $135,000. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Heico by 252.7% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company's stock valued at $158,000 after purchasing an additional 475 shares during the last quarter. 27.12% of the stock is owned by institutional investors.

Insider Activity at Heico

In related news, Director Alan Schriesheim sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the sale, the director now directly owns 157,197 shares of the company's stock, valued at $37,659,685.29. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the sale, the director now directly owns 1,500 shares of the company's stock, valued at approximately $448,650. This represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,056 shares of company stock valued at $22,699,941 over the last ninety days. Insiders own 9.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HEI. William Blair reaffirmed an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Barclays set a $280.00 target price on Heico and gave the company an "equal weight" rating in a report on Monday, June 2nd. Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Wells Fargo & Company upped their target price on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus set a $352.00 price objective on Heico and gave the stock a "buy" rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $286.00.

Heico Stock Performance

HEI stock traded up $5.02 on Friday, reaching $326.30. The company's stock had a trading volume of 634,389 shares, compared to its average volume of 481,013. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $327.50. The company has a market capitalization of $45.39 billion, a P/E ratio of 76.24, a price-to-earnings-growth ratio of 4.07 and a beta of 1.07. The firm has a fifty day moving average of $282.82 and a two-hundred day moving average of $257.64. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56.

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, beating the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the firm earned $0.88 EPS. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, analysts predict that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be issued a $0.12 dividend. 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 is Tuesday, July 1st. Heico's payout ratio is presently 5.14%.

Heico 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.