Heico Corp (NYSE:HEI) Stock Position Reduced by Riverbridge Partners LLC
Riverbridge Partners LLC cut its stake in shares of Heico Corp (NYSE:HEI) by 0.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 979,393 shares of the aerospace company’s stock after selling 3,645 shares during the period. Heico comprises approximately 2.0% of Riverbridge Partners LLC’s holdings, making the stock its 14th largest position. Riverbridge Partners LLC owned approximately 0.73% of Heico worth $111,798,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. New England Research & Management Inc. raised its stake in Heico by 22.2% during the 4th quarter. New England Research & Management Inc. now owns 3,575 shares of the aerospace company’s stock valued at $408,000 after purchasing an additional 650 shares during the last quarter. Tocqueville Asset Management L.P. raised its stake in Heico by 13.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 6,343 shares of the aerospace company’s stock valued at $724,000 after purchasing an additional 746 shares during the last quarter. PFG Advisors raised its stake in Heico by 1.3% during the 4th quarter. PFG Advisors now owns 10,420 shares of the aerospace company’s stock valued at $1,257,000 after purchasing an additional 130 shares during the last quarter. Bath Savings Trust Co raised its stake in Heico by 1.8% during the 4th quarter. Bath Savings Trust Co now owns 22,085 shares of the aerospace company’s stock valued at $2,521,000 after purchasing an additional 386 shares during the last quarter. Finally, GQ Asset Management LLC raised its stake in Heico by 27.6% during the 3rd quarter. GQ Asset Management LLC now owns 1,349 shares of the aerospace company’s stock valued at $168,000 after purchasing an additional 292 shares during the last quarter. 26.11% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently commented on the stock. ValuEngine upgraded shares of Heico from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. SunTrust Banks cut their target price on shares of Heico from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Canaccord Genuity reiterated a “buy” rating and set a $150.00 target price (down from $160.00) on shares of Heico in a research note on Wednesday, December 18th. Finally, UBS Group cut their target price on shares of Heico from $121.00 to $115.00 and set a “sell” rating for the company in a research note on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $128.33.
Heico (NYSE:HEI) last announced its quarterly earnings data on Monday, December 16th. The aerospace company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. Heico had a net margin of 15.95% and a return on equity of 19.15%. The company had revenue of $541.53 million during the quarter, compared to analysts’ expectations of $529.56 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue was up 13.6% on a year-over-year basis. Sell-side analysts anticipate that Heico Corp will post 2.71 EPS for the current year.
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be paid a $0.08 dividend. This is a boost from Heico’s previous Semi-Annual dividend of $0.06. The ex-dividend date of this dividend is Wednesday, January 8th. This represents a dividend yield of 0.1%. Heico’s dividend payout ratio is currently 6.96%.
In other Heico news, Director Frank J. Schwitter acquired 1,210 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was bought at an average price of $94.82 per share, for a total transaction of $114,732.20. Following the purchase, the director now owns 1,313 shares in the company, valued at approximately $124,498.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Carlos L. Macau acquired 1,000 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was acquired at an average price of $91.21 per share, with a total value of $91,210.00. Following the purchase, the chief financial officer now owns 8,322 shares in the company, valued at approximately $759,049.62. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,159 shares of company stock valued at $320,487. Corporate insiders own 9.23% of the company’s stock.
Heico Company Profile
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.
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