Value Partners Investments Inc. Invests $604,000 in Heico Corporation (NYSE:HEI)

Value Partners Investments Inc. purchased a new position in shares of Heico Corporation (NYSE:HEI) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,261 shares of the aerospace company’s stock, valued at approximately $604,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new stake in shares of Heico during the 1st quarter worth approximately $27,000. Banque Transatlantique SA purchased a new position in shares of Heico during the 4th quarter worth approximately $44,000. Atwood & Palmer Inc. purchased a new position in shares of Heico during the 1st quarter worth approximately $80,000. SBI Securities Co. Ltd. purchased a new position in shares of Heico during the 4th quarter worth approximately $135,000. Finally, Aster Capital Management DIFC Ltd boosted its position in shares of Heico by 252.7% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 663 shares of the aerospace company’s stock worth $158,000 after purchasing an additional 475 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Transactions at Heico

In other news, Director Frank J. Schwitter sold 356 shares of Heico stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $448,650. The trade was a 19.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of Heico stock in a transaction on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the sale, the director now owns 157,197 shares in the company, valued at $37,659,685.29. This represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 86,056 shares of company stock valued at $22,699,941. Insiders own 9.55% of the company’s stock.

Heico Stock Performance

Shares of HEI stock opened at $316.92 on Thursday. The stock has a market capitalization of $44.08 billion, a PE ratio of 74.05, a P/E/G ratio of 4.04 and a beta of 1.07. The firm has a 50 day moving average of $279.63 and a two-hundred day moving average of $256.69. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $320.01. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI) last released its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Heico had a net margin of 14.54% and a return on equity of 15.88%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. On average, research analysts predict that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This is a boost from Heico’s previous semi-annual dividend of $0.11. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend is Tuesday, July 1st. Heico’s payout ratio is 5.14%.

Wall Street Analysts Forecast Growth

HEI has been the subject of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Heico from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. Wells Fargo & Company increased their price objective on shares of Heico from $244.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Friday, May 30th. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. William Blair reaffirmed an “outperform” rating on shares of Heico in a research report on Tuesday, March 25th. Finally, UBS Group increased their price objective on shares of Heico from $264.00 to $306.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.00.

Heico Profile

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.