HEICO Co. (NYSE:HEI) Stock Position Lowered by Bell Bank

Bell Bank lessened its position in HEICO Co. (NYSE:HEI) by 23.2% in the 1st quarter, Holdings Channel reports. The fund owned 5,592 shares of the aerospace company’s stock after selling 1,691 shares during the period. Bell Bank’s holdings in HEICO were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Simon Quick Advisors LLC lifted its position in shares of HEICO by 31.9% in the 1st quarter. Simon Quick Advisors LLC now owns 1,385 shares of the aerospace company’s stock valued at $370,000 after acquiring an additional 335 shares in the last quarter. CX Institutional purchased a new stake in shares of HEICO in the 1st quarter valued at approximately $216,000. Atwood & Palmer Inc. purchased a new stake in shares of HEICO in the 1st quarter valued at approximately $80,000. SG Americas Securities LLC lifted its position in shares of HEICO by 123.4% in the 1st quarter. SG Americas Securities LLC now owns 1,613 shares of the aerospace company’s stock valued at $431,000 after acquiring an additional 891 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of HEICO in the 1st quarter valued at approximately $177,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Insider Activity at HEICO

In related news, Director Frank J. Schwitter sold 356 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the transaction, the director now directly owns 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alan Schriesheim sold 35,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the transaction, the director now owns 122,197 shares in the company, valued at $36,458,696.92. The trade was a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,056 shares of company stock worth $22,699,941. 9.55% of the stock is owned by insiders.

HEICO Trading Down 0.4%

HEICO stock opened at $304.23 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. The company has a market capitalization of $42.32 billion, a price-to-earnings ratio of 83.12, a PEG ratio of 3.10 and a beta of 1.07. HEICO Co. has a one year low of $216.68 and a one year high of $307.56. The company’s fifty day moving average price is $270.80 and its two-hundred day moving average price is $254.26.

HEICO (NYSE:HEI) last posted its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.03 by $0.09. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The business’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. On average, analysts forecast that HEICO Co. will post 4.2 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This represents a yield of 0.1%. This is an increase from HEICO’s previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, July 1st. HEICO’s dividend payout ratio is presently 5.61%.

Analysts Set New Price Targets

Several equities research analysts recently commented on HEI shares. Wall Street Zen upgraded shares of HEICO from a “hold” rating to a “buy” rating in a research report on Friday, June 6th. Morgan Stanley increased their target price on shares of HEICO from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 4th. UBS Group increased their target price on shares of HEICO from $264.00 to $306.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Barclays set a $280.00 target price on shares of HEICO and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Finally, Wells Fargo & Company increased their target price on shares of HEICO from $244.00 to $278.00 and gave the stock an “equal weight” rating in a research report on Friday, May 30th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.45.

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.