Weitz Investment Management Inc. Invests $52.74 Million in Heico Corporation $HEI

Weitz Investment Management Inc. purchased a new position in Heico Corporation (NYSE:HEI) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 204,479 shares of the aerospace company’s stock, valued at approximately $52,737,000. Heico comprises about 3.7% of Weitz Investment Management Inc.’s portfolio, making the stock its 12th biggest holding.

A number of other large investors have also made changes to their positions in the stock. Maridea Wealth Management LLC acquired a new stake in shares of Heico during the 2nd quarter worth about $1,128,000. Indivisible Partners acquired a new position in shares of Heico in the fourth quarter valued at approximately $5,883,000. Silvant Capital Management LLC purchased a new position in shares of Heico during the second quarter valued at approximately $9,385,000. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Heico during the fourth quarter valued at approximately $8,395,000. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new stake in Heico during the second quarter worth approximately $1,262,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on HEI. Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Citigroup reissued a “buy” rating and set a $429.00 price target (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Rothschild & Co Redburn set a $360.00 target price on Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $379.56.

Heico Price Performance

Heico stock opened at $355.49 on Friday. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. The firm has a 50 day moving average price of $353.04 and a 200 day moving average price of $320.96. The company has a market cap of $49.65 billion, a price-to-earnings ratio of 63.48, a PEG ratio of 3.64 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.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. Heico’s revenue was up 25.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. Sell-side analysts predict that Heico Corporation will post 6.02 earnings per share for the current year.

Heico Announces Dividend

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

Insider Buying and Selling at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.86% of the company’s stock.

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.