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

Wendell David Associates Inc. increased its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 137.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,244 shares of the aerospace company's stock after acquiring an additional 3,034 shares during the quarter. Wendell David Associates Inc.'s holdings in Heico were worth $1,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wealthfront Advisers LLC lifted its stake in Heico by 219,129.4% in the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after buying an additional 22,224,106 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in Heico in the fourth quarter valued at approximately $110,503,000. Fisher Asset Management LLC lifted its stake in Heico by 19.1% in the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company's stock valued at $98,791,000 after buying an additional 66,583 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Heico by 2.3% in 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 in the last quarter. Finally, Freestone Grove Partners LP bought a new position in Heico in the fourth quarter valued at approximately $71,030,000. Institutional investors own 27.12% of the company's stock.

Heico Stock Up 1.3%

HEI traded up $3.89 during trading on Wednesday, reaching $311.01. 464,721 shares of the stock were exchanged, compared to its average volume of 479,749. The stock has a market cap of $43.26 billion, a P/E ratio of 72.67, a price-to-earnings-growth ratio of 3.92 and a beta of 1.07. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $318.46. The stock's 50 day moving average price is $273.03 and its two-hundred day moving average price is $255.02. 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 (NYSE:HEI - Get Free Report) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. Equities analysts expect that Heico Corporation will post 4.2 EPS for the current year.

Heico Increases Dividend

The company 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 dividend of $0.12 per share. This represents a yield of 0.1%. This is an increase from Heico's previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, July 1st. Heico's payout ratio is presently 5.14%.

Insider Buying and Selling

In other Heico news, Director Frank J. Schwitter sold 356 shares of Heico 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 completion of the transaction, the director now directly owns 1,500 shares of the company's stock, valued at $448,650. The trade was a 19.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Alan Schriesheim sold 50,000 shares of Heico stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the transaction, the director now directly owns 157,197 shares of the company's stock, valued at approximately $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,056 shares of company stock worth $22,699,941. Insiders own 9.55% of the company's stock.

Analyst Ratings Changes

HEI has been the topic of a number of research reports. Barclays set a $280.00 price target on shares of Heico and gave the company an "equal weight" rating in a research note on Monday, June 2nd. Wells Fargo & Company lifted their price target on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. UBS Group lifted their price target on shares of Heico from $264.00 to $306.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Finally, William Blair reiterated an "outperform" rating on shares of Heico in a report on Tuesday, March 25th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $279.45.

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.