Heico Corporation $HEI Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. lifted its holdings in shares of Heico Corporation (NYSE:HEI) by 97.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,920 shares of the aerospace company’s stock after acquiring an additional 4,892 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Heico were worth $3,202,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Avalon Capital Management lifted its stake in shares of Heico by 0.9% in the second quarter. Avalon Capital Management now owns 3,895 shares of the aerospace company’s stock worth $1,278,000 after acquiring an additional 33 shares in the last quarter. Simon Quick Advisors LLC increased its holdings in Heico by 5.8% during the 3rd quarter. Simon Quick Advisors LLC now owns 652 shares of the aerospace company’s stock worth $211,000 after purchasing an additional 36 shares during the last quarter. Pekin Hardy Strauss Inc. raised its position in shares of Heico by 4.4% in the 3rd quarter. Pekin Hardy Strauss Inc. now owns 887 shares of the aerospace company’s stock valued at $286,000 after purchasing an additional 37 shares in the last quarter. Westside Investment Management Inc. boosted its stake in shares of Heico by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock valued at $28,000 after buying an additional 43 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC boosted its stake in shares of Heico by 0.4% during the 3rd quarter. Alpine Woods Capital Investors LLC now owns 12,911 shares of the aerospace company’s stock valued at $4,168,000 after buying an additional 49 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HEI. Stifel Nicolaus set a $370.00 price target on shares of Heico and gave the company a “buy” rating in a report on Monday, December 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of Heico in a research report on Monday, December 29th. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Truist Financial boosted their price objective on Heico from $366.00 to $391.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Finally, Citigroup restated a “buy” rating and set a $415.00 price objective (up from $367.00) on shares of Heico in a research note on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Heico has a consensus rating of “Moderate Buy” and a consensus target price of $364.43.

Heico Price Performance

NYSE HEI opened at $344.93 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.83 and a quick ratio of 1.28. The firm has a market capitalization of $48.07 billion, a PE ratio of 70.25, a P/E/G ratio of 3.87 and a beta of 1.01. The company’s 50 day simple moving average is $337.49 and its 200 day simple moving average is $322.81. Heico Corporation has a 12 month low of $227.12 and a 12 month high of $361.69.

Heico (NYSE:HEI) last released its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Heico had a return on equity of 16.80% and a net margin of 15.39%.The company’s revenue was up 14.4% compared to the same quarter last year. During the same period last year, the company posted $1.20 EPS. As a group, equities research analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a yield of 7.0%. Heico’s payout ratio is presently 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.