Corient IA LLC Invests $668,000 in Heico Corporation (NYSE:HEI)

Corient IA LLC purchased a new position in shares of Heico Corporation (NYSE:HEI) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,500 shares of the aerospace company’s stock, valued at approximately $668,000.

Other institutional investors also recently added to or reduced their stakes in the company. Cresset Asset Management LLC grew its stake in shares of Heico by 25.1% in the 1st quarter. Cresset Asset Management LLC now owns 6,929 shares of the aerospace company’s stock valued at $1,851,000 after purchasing an additional 1,390 shares during the last quarter. Wealthedge Investment Advisors LLC acquired a new position in shares of Heico in the first quarter worth $321,000. American Century Companies Inc. raised its holdings in shares of Heico by 11.3% in the first quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock worth $83,528,000 after acquiring an additional 31,834 shares during the last quarter. Caitong International Asset Management Co. Ltd increased its stake in Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 178 shares during the last quarter. Finally, Enhancing Capital LLC acquired a new position in Heico in the first quarter valued at $214,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Stock Down 1.1%

Shares of HEI stock opened at $307.73 on Friday. The stock has a market cap of $42.81 billion, a PE ratio of 71.90, a price-to-earnings-growth ratio of 3.83 and a beta of 1.11. The business’s fifty day moving average is $317.19 and its 200-day moving average is $277.52. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92.

Heico (NYSE:HEI) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. Heico’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.88 earnings per share. Equities analysts expect that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were issued a dividend of $0.12 per share. This is a positive change from Heico’s previous semi-annual dividend of $0.11. This represents a dividend yield of 10.0%. The ex-dividend date was Tuesday, July 1st. Heico’s dividend payout ratio is 5.61%.

Insider Buying and Selling

In related news, Director Frank J. Schwitter sold 356 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director directly owned 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the sale, the chairman owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,656 shares of company stock worth $28,534,115. Corporate insiders own 9.55% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HEI. Wells Fargo & Company upped their target price on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. Barclays set a $280.00 price target on Heico and gave the company an “equal weight” rating in a report on Monday, June 2nd. Morgan Stanley increased their price target on Heico from $305.00 to $330.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. UBS Group upped their price objective on Heico from $264.00 to $306.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Finally, Truist Financial increased their price target on Heico from $323.00 to $352.00 and gave the stock a “buy” rating in a research report on Friday, July 11th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $301.45.

Heico Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.