First Trust Advisors LP Has $30.13 Million Position in Heico Corporation (HEI)
First Trust Advisors LP increased its stake in shares of Heico Corporation (NYSE:HEI) by 42.7% during the second quarter, Holdings Channel reports. The firm owned 419,333 shares of the aerospace company’s stock after buying an additional 125,544 shares during the period. First Trust Advisors LP’s holdings in Heico Corporation were worth $30,125,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its position in Heico Corporation by 23.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock valued at $106,000 after buying an additional 283 shares during the period. Cambridge Investment Research Advisors Inc. bought a new position in Heico Corporation during the first quarter valued at about $202,000. Brown Advisory Securities LLC bought a new position in Heico Corporation during the first quarter valued at about $202,000. EFG Asset Management Americas Corp. bought a new position in Heico Corporation during the first quarter valued at about $216,000. Finally, Concorde Asset Management LLC bought a new position in Heico Corporation during the first quarter valued at about $228,000. Institutional investors and hedge funds own 23.05% of the company’s stock.
Heico Corporation (HEI) opened at 86.42 on Wednesday. The stock has a 50 day moving average of $79.08 and a 200 day moving average of $71.95. The company has a market capitalization of $7.29 billion, a PE ratio of 42.97 and a beta of 0.76. Heico Corporation has a 12-month low of $52.56 and a 12-month high of $87.36.
Heico Corporation (NYSE:HEI) last announced its earnings results on Tuesday, May 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. Heico Corporation had a net margin of 12.08% and a return on equity of 15.89%. The company had revenue of $368.70 million during the quarter, compared to the consensus estimate of $368.78 million. During the same period in the previous year, the firm posted $0.57 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts predict that Heico Corporation will post $2.09 EPS for the current year.
The business also recently announced a semiannual dividend, which was paid on Wednesday, July 19th. Shareholders of record on Wednesday, July 5th were paid a $0.08 dividend. The ex-dividend date of this dividend was Friday, June 30th. This is an increase from Heico Corporation’s previous semiannual dividend of $0.07. This represents a dividend yield of 0.22%. Heico Corporation’s payout ratio is currently 7.93%.
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Several research analysts have recently issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price objective on shares of Heico Corporation in a report on Monday, June 26th. Zacks Investment Research cut shares of Heico Corporation from a “buy” rating to a “hold” rating in a report on Monday, May 1st. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $91.00 price objective (up from $80.00) on shares of Heico Corporation in a report on Thursday, August 10th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $85.00.
About Heico Corporation
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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