HEICO Co. (NYSE:HEI) Stake Boosted by AGF Management Ltd.

AGF Management Ltd. increased its stake in HEICO Co. (NYSE:HEI) by 61.7% during the second quarter, HoldingsChannel reports. The firm owned 949,945 shares of the aerospace company’s stock after acquiring an additional 362,625 shares during the period. HEICO accounts for approximately 1.2% of AGF Management Ltd.’s holdings, making the stock its 16th biggest position. AGF Management Ltd.’s holdings in HEICO were worth $212,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nomura Holdings Inc. purchased a new position in HEICO during the 4th quarter valued at about $897,000. Meyer Handelman Co. purchased a new position in HEICO during the 1st quarter valued at about $1,072,000. Quadrature Capital Ltd purchased a new position in HEICO during the 1st quarter valued at about $2,796,000. Mediolanum International Funds Ltd purchased a new position in HEICO during the 1st quarter valued at about $1,442,000. Finally, Dudley & Shanley Inc. grew its stake in HEICO by 24.0% during the 1st quarter. Dudley & Shanley Inc. now owns 18,400 shares of the aerospace company’s stock valued at $3,514,000 after acquiring an additional 3,560 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

HEICO Stock Down 0.5 %

HEI opened at $254.45 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The business has a 50 day moving average price of $237.21 and a 200 day moving average price of $216.98. The firm has a market cap of $35.24 billion, a P/E ratio of 80.02, a price-to-earnings-growth ratio of 3.54 and a beta of 1.22. HEICO Co. has a twelve month low of $155.42 and a twelve month high of $259.04.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.77 EPS. Research analysts forecast that HEICO Co. will post 3.63 EPS for the current year.

HEICO Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a $0.11 dividend. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. The ex-dividend date was Monday, July 1st. HEICO’s payout ratio is currently 6.92%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HEI. Truist Financial lifted their target price on HEICO from $248.00 to $264.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Stifel Nicolaus lifted their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Benchmark restated a “buy” rating and issued a $245.00 target price on shares of HEICO in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $259.67.

Insiders Place Their Bets

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now directly owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now directly owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the transaction, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. Insiders have sold a total of 85,206 shares of company stock valued at $15,571,927 in the last three months. Company insiders own 8.10% of the company’s stock.

About HEICO

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.