Wendell David Associates Inc. Purchases 3,595 Shares of Heico Corporation $HEI

Key Points

• Wendell David Associates Inc. boosted its Heico stake by 54.5% in Q1, buying 3,595 shares and bringing its holdings to 10,189 shares valued at about $2.79 million.
• Several other hedge funds also increased their positions, and institutional investors now own 27.12% of Heico’s stock, while insiders own 4.86%.
• Heico reported strong quarterly results, beating EPS and revenue estimates, and analysts remain generally positive with a consensus rating of Moderate Buy and an average price target of $371.62.

Wendell David Associates Inc. increased its position in Heico Corporation (NYSE:HEI - Free Report) by 54.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,189 shares of the aerospace company's stock after acquiring an additional 3,595 shares during the period. Wendell David Associates Inc.'s holdings in Heico were worth $2,794,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Diamant Asset Management Inc. lifted its holdings in Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Munro Partners grew its stake in shares of Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock valued at $92,190,000 after purchasing an additional 87,265 shares during the period. CI Investments Inc. increased its position in shares of Heico by 40.0% during the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company's stock valued at $53,080,000 after purchasing an additional 46,846 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in shares of Heico by 263.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company's stock worth $19,521,000 after purchasing an additional 43,821 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Heico by 12.1% in the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company's stock worth $105,615,000 after purchasing an additional 35,288 shares during the period. Hedge funds and other institutional investors own 27.12% of the company's stock.

Insider Transactions at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company's stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Julie Neitzel sold 676 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total value of $150,748.00. The SEC filing for this sale provides additional information. 4.86% of the stock is owned by company insiders.

Heico Stock Performance

HEI opened at $355.87 on Wednesday. The company has a 50 day simple moving average of $310.52 and a two-hundred day simple moving average of $315.02. 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 cap of $49.70 billion, a P/E ratio of 63.55, a PEG ratio of 3.73 and a beta of 1.03. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $361.69.

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, beating the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned $1.12 EPS. The company's revenue was up 25.3% on a year-over-year basis. Equities analysts forecast that Heico Corporation will post 5.78 earnings per share for the current fiscal year.

Heico Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a yield of 7.0%. Heico's dividend payout ratio (DPR) is currently 4.29%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Jefferies Financial Group restated 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. Susquehanna lifted their price target on shares of Heico from $321.00 to $365.00 and gave the stock a "neutral" rating in a research note on Friday, May 29th. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research report on Saturday, June 6th. Weiss Ratings lowered Heico from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, April 22nd. Finally, Zacks Research raised Heico from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $371.62.

Heico Company 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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