CI Investments Inc. Sells 156,467 Shares of Heico Corporation $HEI

CI Investments Inc. lowered its holdings in shares of Heico Corporation (NYSE:HEI) by 95.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 7,569 shares of the aerospace company’s stock after selling 156,467 shares during the quarter. CI Investments Inc.’s holdings in Heico were worth $2,075,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HEI shares. Susquehanna raised their price target on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a report on Friday, May 1st. Royal Bank Of Canada lifted their target price on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $374.56.

Insider Buying and Selling at Heico

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

Heico Price Performance

Shares of Heico stock opened at $349.34 on Friday. The business has a 50 day moving average of $335.62 and a 200 day moving average of $318.32. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $369.48. The company has a market cap of $48.79 billion, a PE ratio of 62.38, a P/E/G ratio of 3.53 and a beta of 1.03. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating 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 business 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 business posted $1.12 earnings per share. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. As a group, equities research analysts forecast that Heico Corporation will post 5.95 earnings per share for the current year.

Heico Announces Dividend

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

About Heico

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.