Sumitomo Life Insurance Co. Takes Position in Heico Corporation $HEI

Sumitomo Life Insurance Co. purchased a new position in shares of Heico Corporation (NYSE:HEI) in the second quarter, HoldingsChannel.com reports. The firm purchased 5,927 shares of the aerospace company’s stock, valued at approximately $2,111,000.

Other large investors also recently modified their holdings of the company. IFC & Insurance Marketing Inc. acquired a new stake in shares of Heico in the 4th quarter valued at about $26,000. CBIZ Investment Advisory Services LLC grew its holdings in Heico by 1,000.0% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after buying an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. bought a new stake in shares of Heico in the 4th quarter worth $32,000. Miller Capital Partners Inc. purchased a new stake in Heico in the 4th quarter valued at about $70,000. Finally, BNP Paribas purchased a new stake in shares of Heico during the fourth quarter valued at approximately $79,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Buying and Selling

In other news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction that occurred on Wednesday, June 10th. The shares were 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 Securities & Exchange Commission, which is available through this link. Insiders own 4.86% of the company’s stock.

Heico Price Performance

Shares of NYSE HEI 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 company’s 50-day moving average is $353.04 and its 200 day moving average is $320.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36. The stock has a market capitalization of $49.65 billion, a P/E ratio of 63.48, a P/E/G ratio of 3.59 and a beta of 1.04.

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

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued 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 (DPR) is presently 4.64%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HEI shares. Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Royal Bank Of Canada lifted their target price on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, May 13th. Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, UBS Group reissued a “neutral” rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Three investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $379.56.

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.