Heico Corporation $HEI Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its holdings in shares of Heico Corporation (NYSE:HEI) by 11.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,052 shares of the aerospace company’s stock after selling 3,300 shares during the period. Gabelli Funds LLC’s holdings in Heico were worth $6,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bain Capital Public Equity Management II LLC purchased a new position in Heico in the fourth quarter valued at $110,503,000. EULAV Asset Management increased its holdings in Heico by 1.8% in the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company’s stock valued at $123,360,000 after buying an additional 8,000 shares in the last quarter. Two Sigma Advisers LP increased its holdings in Heico by 2.3% in the fourth quarter. Two Sigma Advisers LP now owns 371,178 shares of the aerospace company’s stock valued at $88,244,000 after buying an additional 8,300 shares in the last quarter. American Century Companies Inc. increased its holdings in Heico by 11.3% in the first quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock valued at $83,528,000 after buying an additional 31,834 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in Heico in the fourth quarter valued at $71,030,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the company’s stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the sale, the chairman owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the sale, the director directly owned 1,500 shares of the company’s stock, valued at approximately $448,650. This represents a 19.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,656 shares of company stock valued at $28,534,115. Corporate insiders own 9.55% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Royal Bank Of Canada set a $350.00 price objective on shares of Heico in a report on Wednesday. Zacks Research raised shares of Heico to a “hold” rating in a report on Monday, August 11th. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Bank of America boosted their target price on shares of Heico from $320.00 to $355.00 and gave the stock a “buy” rating in a research note on Thursday, July 3rd. Finally, Morgan Stanley boosted their target price on shares of Heico from $305.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $340.18.

Heico Stock Up 0.4%

HEI stock opened at $317.72 on Friday. The stock has a market capitalization of $44.20 billion, a P/E ratio of 69.52, a P/E/G ratio of 3.92 and a beta of 1.11. The firm has a 50-day simple moving average of $318.42 and a 200-day simple moving average of $281.96. 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 Corporation has a 52 week low of $216.68 and a 52 week high of $338.92.

Heico (NYSE:HEI) last released its earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.68%. The business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Equities analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Tuesday, July 1st. This represents a yield of 10.0%. This is a boost from Heico’s previous semi-annual dividend of $0.11. Heico’s dividend payout ratio is currently 5.25%.

About Heico

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.