Cypress Capital Management LLC WY Purchases Shares of 3,693 Heico Corporation $HEI

Cypress Capital Management LLC WY purchased a new stake in shares of Heico Corporation (NYSE:HEI) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,693 shares of the aerospace company’s stock, valued at approximately $1,315,000. Heico comprises approximately 1.1% of Cypress Capital Management LLC WY’s holdings, making the stock its 28th largest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in HEI. Diamant Asset Management Inc. increased its position in Heico by 25,698.9% in the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP raised its stake in Heico by 0.6% during the 3rd quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after acquiring an additional 3,166 shares in the last quarter. Fisher Asset Management LLC boosted its position in Heico by 12.1% during the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock worth $105,615,000 after acquiring an additional 35,288 shares during the period. Munro Partners boosted its position in Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after acquiring an additional 87,265 shares during the period. Finally, Weitz Investment Management Inc. bought a new position in shares of Heico in the second quarter worth $52,737,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group restated a “buy” rating and set a $491.00 price objective on shares of Heico in a research note on Monday, August 31st. Susquehanna increased their price objective on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Jefferies Financial Group set a $430.00 price objective on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, August 26th. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a report on Monday, August 31st. Finally, Citigroup upped their target price on Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Heico presently has a consensus rating of “Moderate Buy” and a consensus price target of $395.38.

Heico Stock Performance

NYSE:HEI opened at $316.15 on Wednesday. The company has a 50-day moving average of $351.37 and a 200-day moving average of $321.20. The firm has a market cap of $44.18 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.76 and a beta of 1.04. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86.

Heico (NYSE:HEI) last released its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. Analysts forecast that Heico Corporation will post 6.21 earnings per share for the current fiscal year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given 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 4.33%.

About Heico

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.