Wolverine Asset Management LLC Purchases Shares of 1,500 Heico Corporation (NYSE:HEI)

Key Points

• Wolverine Asset Management LLC acquired a new position in Heico Corporation worth approximately $401,000 by purchasing 1,500 shares during the first quarter.
• Heico announced a semi-annual dividend of $0.12, up from the previous $0.11, providing a yield of 10.0%.
• Six analysts rate Heico as a hold and eight as a buy, with a consensus price target of $301.45.

Wolverine Asset Management LLC purchased a new stake in Heico Corporation (NYSE:HEI - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,500 shares of the aerospace company's stock, valued at approximately $401,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Artemis Investment Management LLP acquired a new position in Heico in the 1st quarter valued at about $7,612,000. Baker Avenue Asset Management LP acquired a new stake in shares of Heico during the 1st quarter worth approximately $345,000. Freedom Day Solutions LLC acquired a new position in Heico during the 1st quarter worth approximately $2,653,000. Praxis Investment Management Inc. increased its holdings in Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock worth $2,359,000 after purchasing an additional 1,760 shares in the last quarter. Finally, Vantage Investment Partners LLC grew its holdings in shares of Heico by 1.1% during the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after purchasing an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company's stock.

Insider Transactions at Heico

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the firm's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the sale, the chairman directly owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. This trade represents a 4.30% 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 company'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 owned 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,656 shares of company stock valued at $28,534,115 in the last quarter. Insiders own 9.55% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on HEI shares. Bank of America lifted their price target on shares of Heico from $320.00 to $355.00 and gave the stock a "buy" rating in a report on Thursday, July 3rd. Morgan Stanley lifted their price target 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. Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the stock a "buy" rating in a report on Tuesday, June 24th. Barclays set a $280.00 price target on shares of Heico and gave the stock an "equal weight" rating in a report on Monday, June 2nd. Finally, Wells Fargo & Company lifted their target price on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $301.45.

Heico Stock Down 0.9%

Shares of NYSE:HEI traded down $2.70 during midday trading on Wednesday, hitting $313.37. 376,991 shares of the company's stock were exchanged, compared to its average volume of 516,940. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. The company has a market cap of $43.59 billion, a PE ratio of 73.22, a price-to-earnings-growth ratio of 3.89 and a beta of 1.11. The stock has a 50 day moving average price of $316.64 and a 200-day moving average price of $275.94. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.43 and a quick ratio of 1.56.

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

Heico Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were issued a $0.12 dividend. This represents a dividend yield of 10.0%. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Heico's previous semi-annual dividend of $0.11. Heico's payout ratio is currently 5.61%.

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.