OneAscent Financial Services LLC Reduces Position in Heico Corporation $HEI

OneAscent Financial Services LLC decreased its holdings in Heico Corporation (NYSE:HEI) by 55.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,344 shares of the aerospace company’s stock after selling 1,675 shares during the period. OneAscent Financial Services LLC’s holdings in Heico were worth $434,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Sagespring Wealth Partners LLC grew its position in shares of Heico by 19.9% in the third quarter. Sagespring Wealth Partners LLC now owns 776 shares of the aerospace company’s stock valued at $251,000 after purchasing an additional 129 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Heico by 100.6% during the third quarter. Chicago Partners Investment Group LLC now owns 1,665 shares of the aerospace company’s stock worth $520,000 after buying an additional 835 shares during the last quarter. Inspire Advisors LLC boosted its stake in Heico by 2.5% during the third quarter. Inspire Advisors LLC now owns 2,229 shares of the aerospace company’s stock worth $720,000 after buying an additional 54 shares during the last quarter. Oak Ridge Investments LLC purchased a new stake in Heico in the 3rd quarter valued at $432,000. Finally, MinichMacGregor Wealth Management LLC raised its holdings in shares of Heico by 4.7% during the 3rd quarter. MinichMacGregor Wealth Management LLC now owns 26,365 shares of the aerospace company’s stock worth $8,509,000 after acquiring an additional 1,174 shares during the period. 27.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HEI has been the subject of several analyst reports. Citigroup reiterated a “buy” rating and issued a $415.00 price objective (up from $367.00) on shares of Heico in a research report on Tuesday, January 13th. Truist Financial upped their price objective on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. UBS Group reiterated a “neutral” rating and issued a $371.00 price target (up previously from $359.00) on shares of Heico in a research note on Monday, December 22nd. BNP Paribas Exane set a $330.00 price objective on Heico in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a research note on Monday, December 29th. Ten investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $364.43.

Heico Trading Up 0.7%

Shares of HEI stock opened at $338.35 on Wednesday. The company has a quick ratio of 1.28, a current ratio of 2.83 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $327.68 and a 200-day simple moving average of $320.94. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $361.69. The stock has a market cap of $47.15 billion, a P/E ratio of 68.91, a P/E/G ratio of 3.71 and a beta of 1.03.

Heico (NYSE:HEI) last released its quarterly earnings results on Thursday, December 18th. The aerospace company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. Heico had a net margin of 15.39% and a return on equity of 16.80%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $0.99 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. On average, analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were issued a $0.12 dividend. This represents a yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s dividend payout ratio is 4.89%.

Heico 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.