1,474 Shares in Heico Corporation $HEI Bought by Somerville Kurt F

Somerville Kurt F acquired a new position in shares of Heico Corporation (NYSE:HEI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,474 shares of the aerospace company’s stock, valued at approximately $380,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HEI. Diamant Asset Management Inc. grew its position in shares of 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 purchasing an additional 760,687 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Heico during the second quarter worth about $54,386,000. Munro Partners raised 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 worth $92,190,000 after purchasing an additional 87,265 shares during the last quarter. CI Investments Inc. raised 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 worth $53,080,000 after purchasing an additional 46,846 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake 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 valued at $19,521,000 after buying an additional 43,821 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

Heico Stock Down 1.2%

HEI stock opened at $363.68 on Thursday. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average of $352.33 and a two-hundred day moving average of $320.57. Heico Corporation has a 12 month low of $256.11 and a 12 month high of $376.86. The company has a market cap of $50.79 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 3.81 and a beta of 1.04.

Heico (NYSE:HEI) last issued its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping 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 return on equity of 17.52% and a net margin of 16.08%.The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. As a group, analysts forecast that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Announces Dividend

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

Analyst Ratings Changes

Several research firms recently issued reports on HEI. Susquehanna lifted their price objective on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Morgan Stanley set a $370.00 target price on Heico in a research report on Wednesday, July 15th. Rothschild & Co Redburn set a $360.00 price target on Heico and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, UBS Group reiterated a “neutral” rating and set a $390.00 price target (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $379.56.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was 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 Securities & Exchange Commission, which is available through this hyperlink. 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.