Numerai GP LLC Makes New $8.01 Million Investment in Heico Corporation $HEI

Numerai GP LLC acquired a new stake in Heico Corporation (NYSE:HEI) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 24,799 shares of the aerospace company’s stock, valued at approximately $8,006,000. Heico comprises approximately 1.1% of Numerai GP LLC’s investment portfolio, making the stock its 5th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. American Century Companies Inc. increased its stake in shares of Heico by 45.7% in the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock worth $248,476,000 after buying an additional 241,559 shares during the period. Munro Partners purchased a new stake in Heico during the 2nd quarter valued at $59,720,000. Balyasny Asset Management L.P. grew 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 acquiring an additional 43,821 shares during the last quarter. AMJ Financial Wealth Management bought a new stake in Heico in the 2nd quarter worth $11,552,000. Finally, Erste Asset Management GmbH increased its position in shares of Heico by 136.0% in the third quarter. Erste Asset Management GmbH now owns 59,000 shares of the aerospace company’s stock valued at $18,752,000 after acquiring an additional 34,000 shares during the period. Institutional investors own 27.12% of the company’s stock.

Heico Price Performance

HEI stock opened at $291.79 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.06 and a quick ratio of 1.41. Heico Corporation has a 1 year low of $229.07 and a 1 year high of $361.69. The firm has a 50-day moving average of $331.84 and a 200 day moving average of $322.55. The company has a market cap of $40.66 billion, a P/E ratio of 57.67, a PEG ratio of 3.53 and a beta of 1.01.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. Heico had a return on equity of 16.57% and a net margin of 15.38%.The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the firm posted $1.20 EPS. The business’s revenue was up 14.4% on a year-over-year basis. On average, sell-side analysts forecast that Heico Corporation will post 4.2 EPS for the current year.

Heico Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were given a dividend of $0.12 per share. The ex-dividend date was Monday, January 5th. This represents a dividend yield of 7.0%. Heico’s payout ratio is currently 4.74%.

Analysts Set New Price Targets

HEI has been the subject of a number of analyst reports. Susquehanna initiated coverage on shares of Heico in a report on Friday, January 23rd. They set a “neutral” rating and a $385.00 target price for the company. Citigroup restated a “buy” rating and set a $415.00 price target (up from $367.00) on shares of Heico in a report on Tuesday, January 13th. Truist Financial upped their price target on Heico from $366.00 to $391.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $375.00 price objective (up from $350.00) on shares of Heico in a report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $375.00 target price (up from $355.00) on shares of Heico in a research note on Monday, December 22nd. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $364.43.

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.