Pinnbrook Capital Management LP Sells 7,390 Shares of Heico Corporation $HEI

Pinnbrook Capital Management LP cut its stake in Heico Corporation (NYSE:HEI) by 30.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,218 shares of the aerospace company’s stock after selling 7,390 shares during the period. Pinnbrook Capital Management LP’s holdings in Heico were worth $5,558,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its stake in Heico by 100.0% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after purchasing an additional 43 shares during the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Heico during the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Heico during the 3rd quarter valued at about $31,000. Pittenger & Anderson Inc. raised its holdings in shares of Heico by 159.2% during the 3rd quarter. Pittenger & Anderson Inc. now owns 324 shares of the aerospace company’s stock valued at $105,000 after buying an additional 199 shares in the last quarter. Finally, Virtus Advisers LLC bought a new stake in Heico in the 2nd quarter worth approximately $128,000. Institutional investors own 27.12% of the company’s stock.

Heico Stock Down 0.7%

Shares of NYSE:HEI opened at $288.06 on Friday. The firm has a market capitalization of $40.14 billion, a P/E ratio of 56.93, a P/E/G ratio of 3.55 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. The stock has a 50 day moving average price of $332.83 and a 200-day moving average price of $322.76. Heico Corporation has a 52-week low of $229.07 and a 52-week high of $361.69.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. Heico had a return on equity of 16.57% and a net margin of 15.38%.The firm’s revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. As a group, equities research analysts anticipate that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were issued a dividend of $0.12 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s payout ratio is 4.74%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. BNP Paribas Exane upgraded shares of Heico from a “neutral” rating to an “outperform” rating in a research report on Friday, February 27th. Citigroup reaffirmed a “buy” rating and issued a $415.00 price target (up from $367.00) on shares of Heico in a research note on Tuesday, January 13th. UBS Group reaffirmed a “neutral” rating and set a $371.00 price objective (up from $359.00) on shares of Heico in a research note on Monday, December 22nd. Susquehanna started coverage on Heico in a report on Friday, January 23rd. They set a “neutral” rating and a $385.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Heico from $366.00 to $391.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and an average price target of $364.43.

Heico Company 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.