Safeguard Investment Advisory Group LLC Takes $2.33 Million Position in Heico Corporation $HEI

Safeguard Investment Advisory Group LLC bought a new stake in Heico Corporation (NYSE:HEI) during the second quarter, HoldingsChannel reports. The firm bought 6,541 shares of the aerospace company’s stock, valued at approximately $2,330,000. Heico comprises about 0.5% of Safeguard Investment Advisory Group LLC’s holdings, making the stock its 25th largest holding.

Several other large investors have also recently bought and sold shares of the stock. Diamant Asset Management Inc. grew its stake in Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after purchasing an additional 760,687 shares in the last quarter. Weitz Investment Management Inc. bought a new stake in shares of Heico during the 2nd quarter worth approximately $52,737,000. Bank of New York Mellon Corp bought a new stake in shares of Heico during the 2nd quarter worth approximately $54,386,000. Freestone Grove Partners LP acquired a new stake in shares of Heico in the 2nd quarter valued at approximately $50,276,000. Finally, Munro Partners boosted its holdings in shares of Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after buying an additional 87,265 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HEI has been the topic of a number of recent analyst reports. Morgan Stanley set a $365.00 target price on shares of Heico and gave the stock an “equal weight” rating in a report on Wednesday. Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the company an “equal weight” rating in a research note on Monday, June 1st. UBS Group reissued a “neutral” rating and issued a $396.00 price objective (up from $382.00) on shares of Heico in a research report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft set a $421.00 price objective on shares of Heico and gave the stock a “buy” rating in a research note on Wednesday, August 19th. Finally, Rothschild & Co Redburn set a $360.00 target price on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Heico has an average rating of “Moderate Buy” and an average target price of $395.71.

Heico Stock Down 0.8%

HEI stock opened at $322.69 on Thursday. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The business’s 50 day simple moving average is $353.38 and its 200 day simple moving average is $321.57. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $45.07 billion, a PE ratio of 53.69, a PEG ratio of 3.17 and a beta of 1.04.

Heico (NYSE:HEI) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the firm posted $1.26 EPS. The company’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, research analysts anticipate that Heico Corporation will post 6.13 EPS for the current year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s dividend payout ratio is presently 4.33%.

Insider Activity

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

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.