Wendell David Associates Inc. Buys 3,034 Shares of Heico Corporation (NYSE:HEI)

Wendell David Associates Inc. grew its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 137.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,244 shares of the aerospace company's stock after buying an additional 3,034 shares during the quarter. Wendell David Associates Inc.'s holdings in Heico were worth $1,401,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in Heico in the 1st quarter valued at about $27,000. Banque Transatlantique SA bought a new stake in Heico during the fourth quarter worth $44,000. Atwood & Palmer Inc. purchased a new stake in Heico in the 1st quarter valued at $80,000. SBI Securities Co. Ltd. bought a new position in Heico during the 4th quarter valued at $135,000. Finally, Aster Capital Management DIFC Ltd lifted its stake in Heico by 252.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company's stock valued at $158,000 after acquiring an additional 475 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Julie Neitzel sold 700 shares of Heico stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the transaction, the director now directly owns 418 shares in the company, valued at approximately $102,924.14. The trade was a 62.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the business's stock in a transaction 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 in the company, valued at $448,650. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 86,056 shares of company stock valued at $22,699,941. 9.55% of the stock is owned by insiders.

Heico Stock Performance

Shares of HEI stock traded up $4.39 during trading hours on Friday, hitting $315.47. 706,994 shares of the company were exchanged, compared to its average volume of 480,655. 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 stock has a market capitalization of $43.88 billion, a price-to-earnings ratio of 73.71, a P/E/G ratio of 3.96 and a beta of 1.07. The firm has a fifty day simple moving average of $274.26 and a 200 day simple moving average of $255.31. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $329.10.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share 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 business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company earned $0.88 earnings per share. Heico's revenue was up 14.9% compared to the same quarter last year. Research analysts predict that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be paid a dividend of $0.12 per share. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date of this dividend is Tuesday, July 1st. This represents a dividend yield of 0.1%. Heico's dividend payout ratio is presently 5.14%.

Analyst Ratings Changes

Several analysts have recently commented on HEI shares. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Morgan Stanley upped their price objective on shares of Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 4th. Barclays set a $280.00 target price on shares of Heico and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. 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, Truist Financial decreased their price target on Heico from $294.00 to $277.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $279.45.

About Heico

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.