Verde Capital Management Acquires New Stake in Heico Corporation $HEI

Verde Capital Management acquired a new stake in shares of Heico Corporation (NYSE:HEI) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,392 shares of the aerospace company’s stock, valued at approximately $1,204,000.

Several other hedge funds have also added to or reduced their stakes in HEI. IFC & Insurance Marketing Inc. purchased a new stake in shares of Heico in the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its position in shares of Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. bought a new position in Heico in the 4th quarter worth about $32,000. V Square Quantitative Management LLC bought a new position in Heico in the 4th quarter worth about $37,000. Finally, FNY Investment Advisers LLC grew its position in Heico by 862.5% during the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 138 shares during the last quarter. 27.12% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HEI has been the subject of several recent analyst reports. Weiss Ratings cut shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada increased their price target on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Susquehanna raised their price target on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a report on Monday, June 1st. Finally, UBS Group reaffirmed a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and an average price target of $371.62.

Heico Price Performance

Shares of NYSE:HEI opened at $330.86 on Tuesday. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $361.69. The business has a 50-day simple moving average of $304.29 and a two-hundred day simple moving average of $313.64. 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 firm has a market cap of $46.21 billion, a price-to-earnings ratio of 59.08, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Heico (NYSE:HEI) last posted its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.12 EPS. On average, analysts expect that Heico Corporation will post 5.78 earnings per share for the current year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be given a dividend of $0.13 per share. The ex-dividend date is Wednesday, July 1st. This represents a yield of 8.0%. Heico’s dividend payout ratio is 4.29%.

Insider Activity at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Julie Neitzel sold 676 shares of Heico stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total transaction of $150,748.00. The disclosure for this sale is available in the SEC filing. Company insiders own 4.86% of the company’s stock.

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.