Wealthedge Investment Advisors LLC Purchases Shares of 1,202 Heico Corporation (NYSE:HEI)

Key Points

• Wealthedge Investment Advisors LLC acquired 1,202 shares of Heico Corporation (NYSE:HEI), valued at approximately $321,000, during the first quarter.
• Heico recently reported a 14.9% increase in quarterly revenue year-over-year and EPS of $1.12, exceeding expectations.
• The company declared a new semi-annual dividend of $0.12 per share, up from $0.11, indicating a yield of 10.0%.

Wealthedge Investment Advisors LLC purchased a new stake in Heico Corporation (NYSE:HEI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,202 shares of the aerospace company's stock, valued at approximately $321,000.

Several other large investors have also recently bought and sold shares of HEI. United Capital Financial Advisors LLC boosted its position in shares of Heico by 5.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock worth $248,000 after acquiring an additional 56 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Heico by 6.7% in the fourth quarter. NewEdge Advisors LLC now owns 1,542 shares of the aerospace company's stock valued at $367,000 after buying an additional 97 shares during the period. Capital Group Investment Management PTE. LTD. lifted its holdings in Heico by 2.1% in the fourth quarter. Capital Group Investment Management PTE. LTD. now owns 10,116 shares of the aerospace company's stock valued at $2,405,000 after buying an additional 207 shares during the period. Capital International Ltd. CA increased its stake in Heico by 9.3% in the fourth quarter. Capital International Ltd. CA now owns 51,333 shares of the aerospace company's stock valued at $12,204,000 after purchasing an additional 4,348 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Heico by 153.4% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,434 shares of the aerospace company's stock worth $1,054,000 after acquiring an additional 2,684 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Heico

In other news, Director Alan Schriesheim sold 35,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total value of $10,442,600.00. Following the completion of the sale, the director directly owned 122,197 shares of the company's stock, valued at approximately $36,458,696.92. This trade represents a 22.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director directly owned 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 91,656 shares of company stock valued at $28,534,115 in the last quarter. Company insiders own 9.55% of the company's stock.

Heico Price Performance

HEI stock opened at $311.41 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The firm's fifty day moving average is $317.10 and its 200 day moving average is $276.73. The firm has a market cap of $43.32 billion, a P/E ratio of 72.76, a P/E/G ratio of 3.90 and a beta of 1.11.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. The firm's quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. Research analysts predict that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st were given a dividend of $0.12 per share. This represents a yield of 10.0%. 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. Heico's dividend payout ratio is currently 5.61%.

Wall Street Analyst Weigh In

HEI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research note on Friday, July 18th. Bank of America upped their target price on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Truist Financial upped their target price on shares of Heico from $323.00 to $352.00 and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group upped their target price on shares of Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. Finally, Morgan Stanley upped their target price on shares of Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $301.45.

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.

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