Perigon Wealth Management LLC Invests $1.38 Million in Heico Corporation $HEI

Perigon Wealth Management LLC acquired a new position in shares of Heico Corporation (NYSE:HEI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,267 shares of the aerospace company’s stock, valued at approximately $1,377,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC increased its stake in Heico by 36.5% in the second quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 35 shares during the last quarter. Banque Transatlantique SA boosted its holdings in shares of Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 68 shares in the last quarter. Andra AP fonden bought a new position in shares of Heico during the 2nd quarter valued at about $66,000. Valley National Advisers Inc. purchased a new position in shares of Heico during the 2nd quarter valued at about $114,000. Finally, Bayforest Capital Ltd lifted its position in Heico by 51.9% in the 2nd quarter. Bayforest Capital Ltd now owns 351 shares of the aerospace company’s stock worth $115,000 after buying an additional 120 shares during the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Heico news, Director Mark H. Hildebrandt acquired 400 shares of the company’s stock in a transaction on Tuesday, October 21st. The stock was acquired at an average price of $248.76 per share, for a total transaction of $99,504.00. Following the acquisition, the director owned 1,181 shares in the company, valued at $293,785.56. This represents a 51.22% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Carol F. Fine bought 672 shares of Heico stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the completion of the purchase, the director directly owned 672 shares of the company’s stock, valued at approximately $163,920.96. This trade represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 4,448 shares of company stock worth $1,086,933. Insiders own 9.55% of the company’s stock.

Heico Trading Down 0.4%

Shares of HEI opened at $327.99 on Wednesday. The stock has a market capitalization of $45.71 billion, a P/E ratio of 66.80, a PEG ratio of 3.68 and a beta of 1.04. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $340.11. 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 firm has a fifty day simple moving average of $316.84 and a two-hundred day simple moving average of $317.23.

Heico (NYSE:HEI) last released its quarterly earnings data 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 firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Heico had a net margin of 15.39% and a return on equity of 16.80%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.99 earnings per share. On average, research analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Heico Dividend Announcement

The firm also recently declared a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Monday, January 5th. This represents a yield of 8.0%. Heico’s dividend payout ratio is presently 4.89%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $375.00 price target (up from $355.00) on shares of Heico in a research report on Monday, December 22nd. Stifel Nicolaus set a $370.00 target price on shares of Heico and gave the company a “buy” rating in a report on Monday, December 22nd. Citigroup assumed coverage on shares of Heico in a research report on Thursday, December 11th. They issued a “buy” rating and a $367.00 target price on the stock. Wall Street Zen lowered shares of Heico from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Truist Financial raised their price objective on Heico from $366.00 to $391.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $357.07.

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.