1,598 Shares in Heico Corporation $HEI Bought by Morningstar Investment Management LLC

Morningstar Investment Management LLC purchased a new stake in shares of Heico Corporation (NYSE:HEI) during the 1st quarter, HoldingsChannel reports. The firm purchased 1,598 shares of the aerospace company’s stock, valued at approximately $438,000.

A number of other large investors have also modified their holdings of HEI. Diamant Asset Management Inc. boosted its stake in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares in the last quarter. Munro Partners grew its position 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 acquiring an additional 87,265 shares during the period. CI Investments Inc. increased its stake in shares of Heico by 40.0% in 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 in the last quarter. Balyasny Asset Management L.P. raised its holdings in 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 boosted its position in Heico by 12.1% during the fourth 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 in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Stock Down 0.1%

Shares of HEI opened at $349.34 on Monday. The stock has a 50 day moving average price of $335.62 and a 200 day moving average price of $318.16. Heico Corporation has a one year low of $256.11 and a one year high of $369.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The stock has a market capitalization of $48.79 billion, a price-to-earnings ratio of 62.38, a PEG ratio of 3.62 and a beta of 1.03.

Heico (NYSE:HEI) last announced its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company posted $1.12 EPS. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. Equities research analysts forecast that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Announces Dividend

The firm also recently declared a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s payout ratio is presently 4.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Rothschild & Co Redburn set a $360.00 price objective on shares of Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $410.00 price objective (up from $375.00) on shares of Heico in a report on Thursday, May 28th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Heico currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.56.

Insider Transactions at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.86% of the company’s stock.

Heico 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.