Hennion & Walsh Asset Management Inc. Increases Stock Position in Heico Corporation $HEI

Hennion & Walsh Asset Management Inc. raised its holdings in Heico Corporation (NYSE:HEI) by 31.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,533 shares of the aerospace company’s stock after purchasing an additional 2,029 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Heico were worth $2,755,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Congress Asset Management Co. increased its stake in shares of Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after acquiring an additional 242,264 shares during the period. American Century Companies Inc. lifted its holdings in shares of Heico by 68.9% in the second quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company’s stock valued at $173,232,000 after purchasing an additional 215,530 shares in the last quarter. Munro Partners acquired a new stake in Heico during the 2nd quarter valued at $59,720,000. AMJ Financial Wealth Management acquired a new stake in shares of Heico during the second quarter valued at $11,552,000. Finally, CW Advisors LLC grew its holdings in shares of Heico by 648.3% during the second quarter. CW Advisors LLC now owns 29,646 shares of the aerospace company’s stock worth $9,724,000 after buying an additional 25,684 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HEI. Stifel Nicolaus set a $370.00 price target on Heico and gave the stock a “buy” rating in a research note on Monday, December 22nd. Truist Financial raised their price target on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Wall Street Zen downgraded shares of Heico from a “buy” rating to a “hold” rating in a research note on Saturday, December 27th. UBS Group reiterated a “neutral” rating and set a $371.00 price objective (up from $359.00) on shares of Heico in a report on Monday, December 22nd. Finally, Citigroup assumed coverage on shares of Heico in a report on Thursday, December 11th. They issued a “buy” rating and a $367.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $357.07.

Insider Buying and Selling

In other Heico news, Director Thomas M. Culligan bought 676 shares of the stock in a transaction dated Friday, October 10th. The stock was bought at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the purchase, the director directly owned 11,030 shares of the company’s stock, valued at approximately $2,690,547.90. The trade was a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carol F. Fine purchased 672 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was acquired at an average price of $243.93 per share, for a total transaction of $163,920.96. Following the purchase, the director owned 672 shares of the company’s stock, valued at approximately $163,920.96. This represents a ∞ increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 4,448 shares of company stock worth $1,086,933 over the last quarter. Company insiders own 9.55% of the company’s stock.

Heico Stock Up 1.0%

Shares of Heico stock opened at $351.16 on Thursday. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $356.77. The stock has a market cap of $48.94 billion, a price-to-earnings ratio of 71.52, a price-to-earnings-growth ratio of 3.86 and a beta of 1.03. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average price of $319.46 and a 200 day moving average price of $318.28.

Heico (NYSE:HEI) last issued its quarterly earnings data on Thursday, December 18th. The aerospace company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Heico had a return on equity of 16.80% and a net margin of 15.39%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. Equities research analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Announces Dividend

The company also recently disclosed a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be given a $0.12 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a yield of 7.0%. Heico’s dividend payout ratio (DPR) is 4.89%.

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.