CPC Advisors LLC Invests $2.32 Million in Heico Corporation $HEI

CPC Advisors LLC bought a new stake in Heico Corporation (NYSE:HEI) in the 3rd quarter, Holdings Channel.com reports. The fund bought 7,181 shares of the aerospace company’s stock, valued at approximately $2,318,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Congress Asset Management Co. grew its holdings in Heico by 366.0% in the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after buying an additional 242,264 shares during the period. American Century Companies Inc. boosted its position in shares of Heico by 68.9% in the second quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company’s stock worth $173,232,000 after acquiring an additional 215,530 shares during the last quarter. Munro Partners acquired a new stake in shares of Heico in the second quarter worth approximately $59,720,000. AMJ Financial Wealth Management purchased a new stake in Heico in the second quarter valued at approximately $11,552,000. Finally, CW Advisors LLC increased its position in Heico by 648.3% during the second quarter. CW Advisors LLC now owns 29,646 shares of the aerospace company’s stock worth $9,724,000 after purchasing an additional 25,684 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Trading Up 0.9%

NYSE:HEI opened at $356.69 on Tuesday. The business’s 50-day moving average is $321.84 and its two-hundred day moving average is $319.00. The firm has a market capitalization of $49.71 billion, a PE ratio of 72.65, a price-to-earnings-growth ratio of 3.90 and a beta of 1.03. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $361.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.83 and a quick ratio of 1.28.

Heico (NYSE:HEI) last posted its earnings results on Thursday, December 18th. The aerospace company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. Heico had a return on equity of 16.80% and a net margin of 15.39%.The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.99 earnings per share. Research analysts predict 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 will be paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th will be given a dividend of $0.12 per share. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend is Monday, January 5th. Heico’s payout ratio is presently 4.89%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Stifel Nicolaus set a $370.00 price objective on shares of Heico and gave the company a “buy” rating in a research note on Monday, December 22nd. BNP Paribas set a $330.00 target price on Heico in a report on Tuesday, November 18th. Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. UBS Group restated a “neutral” rating and issued a $371.00 price objective (up from $359.00) on shares of Heico in a report on Monday, December 22nd. Finally, Truist Financial boosted their target price on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Ten equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $357.07.

Insider Buying and Selling at Heico

In other news, Director Mark H. Hildebrandt bought 400 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The stock was acquired at an average cost of $248.76 per share, for a total transaction of $99,504.00. Following the completion of the purchase, the director owned 1,181 shares of the company’s stock, valued at $293,785.56. This trade represents a 51.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 9.55% of the company’s stock.

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.