Portland Investment Counsel Inc. Acquires Shares of 2,792 Heico Corporation $HEI

Portland Investment Counsel Inc. bought a new position in Heico Corporation (NYSE:HEI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,792 shares of the aerospace company’s stock, valued at approximately $994,000.

A number of other institutional investors have also recently modified their holdings of HEI. Maridea Wealth Management LLC bought a new position in shares of Heico in the second quarter worth approximately $1,128,000. Indivisible Partners bought a new stake in shares of Heico during the fourth quarter valued at approximately $5,883,000. Silvant Capital Management LLC bought a new stake in shares of Heico during the second quarter valued at approximately $9,385,000. PFA Pension Forsikringsaktieselskab purchased a new position in Heico in the 4th quarter worth approximately $8,395,000. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in Heico in the 2nd quarter worth approximately $1,262,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 4.86% of the company’s stock.

Heico Stock Up 0.1%

HEI stock opened at $355.49 on Monday. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 63.48, a P/E/G ratio of 3.58 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The business’s 50-day moving average is $353.04 and its two-hundred day moving average is $320.88. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the company posted $1.12 EPS. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, analysts forecast that Heico Corporation will post 6.02 earnings per share for the current year.

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s payout ratio is 4.64%.

Analysts Set New Price Targets

HEI has been the topic of several recent analyst reports. Citigroup reiterated a “buy” rating and set a $429.00 target price (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Rothschild & Co Redburn set a $360.00 price objective on Heico and gave the company a “buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted their price objective on Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Susquehanna boosted their target price on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $379.56.

About Heico

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.