Venturi Wealth Management LLC Cuts Holdings in Heico Corporation $HEI

Key Points

• Venturi Wealth Management cut its Heico position by 96.6% in the second quarter, selling 88,156 shares and retaining 3,134 shares valued at approximately $1.12 million.
• Heico reported a strong quarter, with EPS of $1.66 versus the $1.33 analyst consensus and revenue of $1.38 billion, up 25.3% year over year. Analysts expect full-year EPS of $5.95.
• HEI shares opened at $373.25, near their 52-week high, while analysts maintained an overall “Moderate Buy” rating with a consensus price target of $374.56.

Venturi Wealth Management LLC lowered its position in Heico Corporation (NYSE:HEI - Free Report) by 96.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,134 shares of the aerospace company's stock after selling 88,156 shares during the period. Venturi Wealth Management LLC's holdings in Heico were worth $1,116,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of HEI. Diamant Asset Management Inc. increased its stake in shares of Heico by 25,698.9% in the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after purchasing an additional 760,687 shares in the last quarter. Two Sigma Investments LP grew its holdings in Heico by 0.6% in the third quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company's stock valued at $180,347,000 after purchasing an additional 3,166 shares during the period. Fisher Asset Management LLC grew its holdings in Heico by 12.1% in the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company's stock valued at $105,615,000 after purchasing an additional 35,288 shares during the period. Munro Partners increased its position in shares of Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock valued at $92,190,000 after buying an additional 87,265 shares in the last quarter. Finally, CI Investments Inc. increased its position in shares of Heico by 40.0% in the fourth quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company's stock valued at $53,080,000 after buying an additional 46,846 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Price Performance

HEI stock opened at $373.25 on Thursday. 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 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The firm has a market capitalization of $52.13 billion, a PE ratio of 66.65, a price-to-earnings-growth ratio of 3.80 and a beta of 1.04. The business has a 50 day simple moving average of $348.05 and a 200-day simple moving average of $319.31.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.33 by $0.33. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm's revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 earnings per share. Equities research analysts anticipate that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico's payout ratio is currently 4.64%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the business's stock in a transaction dated 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 SEC, which is available at this hyperlink. 4.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HEI. Jefferies Financial Group reiterated a "buy" rating and set a $410.00 target price (up from $375.00) on shares of Heico in a research report on Thursday, May 28th. UBS Group reissued a "neutral" rating and issued a $390.00 price target (up from $371.00) on shares of Heico in a report on Monday, June 1st. Weiss Ratings upgraded shares of Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Morgan Stanley set a $370.00 price objective on shares of Heico in a report on Wednesday, July 15th. Finally, Wall Street Zen lowered shares of Heico from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Three investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $374.56.

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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