Heico Corporation $HEI Shares Bought by Carderock Capital Management Inc.

Carderock Capital Management Inc. grew its position in shares of Heico Corporation (NYSE:HEI) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 40,081 shares of the aerospace company’s stock after buying an additional 2,556 shares during the period. Heico accounts for approximately 3.1% of Carderock Capital Management Inc.’s holdings, making the stock its 6th largest holding. Carderock Capital Management Inc.’s holdings in Heico were worth $14,276,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. IFC & Insurance Marketing Inc. acquired a new stake in Heico during the 4th quarter valued at $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. purchased a new position in Heico in the 4th quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Heico during the fourth quarter valued at about $37,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of Heico during the fourth quarter valued at about $65,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the company. Wells Fargo & Company set a $350.00 price target on Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. UBS Group reaffirmed a “neutral” rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Truist Financial raised shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Finally, Morgan Stanley set a $370.00 price target on shares of Heico in a report on Wednesday, July 15th. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $374.56.

Heico Stock Performance

Shares of HEI stock opened at $368.80 on Wednesday. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $370.39. The company has a market cap of $51.51 billion, a P/E ratio of 65.86, a PEG ratio of 3.73 and a beta of 1.04. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. The business has a 50 day moving average of $343.97 and a two-hundred day moving average of $318.55.

Heico (NYSE:HEI) last issued its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the company earned $1.12 earnings per share. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis. As a group, analysts anticipate that Heico Corporation will post 5.95 EPS for the current year.

Heico Dividend Announcement

The company also recently disclosed a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a $0.13 dividend. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s dividend payout ratio (DPR) is currently 4.64%.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.86% of the stock is currently owned by corporate insiders.

Heico Company Profile

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.