Public Employees Retirement System of Ohio Sells 4,252 Shares of Heico Corporation $HEI

Public Employees Retirement System of Ohio lowered its holdings in Heico Corporation (NYSE:HEI) by 12.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 30,237 shares of the aerospace company’s stock after selling 4,252 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Heico were worth $10,770,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Capstone Investment Advisors LLC acquired a new position in Heico during the 2nd quarter worth about $367,000. Strive Financial Group LLC acquired a new position in shares of Heico during the second quarter worth approximately $176,000. Parvin Asset Management LLC bought a new stake in shares of Heico during the second quarter valued at approximately $145,000. Freestone Grove Partners LP acquired a new stake in shares of Heico in the second quarter valued at approximately $50,276,000. Finally, J. Goldman & Co LP bought a new position in Heico in the 2nd quarter worth approximately $7,769,000. 27.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on HEI shares. Royal Bank Of Canada increased their price objective on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research report on Monday. UBS Group restated a “neutral” rating and set a $396.00 target price (up from $382.00) on shares of Heico in a research report on Thursday. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Finally, Morgan Stanley set a $370.00 price objective on shares of Heico in a report on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $389.67.

Heico Price Performance

Shares of HEI stock opened at $331.10 on Tuesday. The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The firm has a fifty day moving average of $353.82 and a 200-day moving average of $321.60. The firm has a market capitalization of $46.24 billion, a price-to-earnings ratio of 55.09, a price-to-earnings-growth ratio of 3.36 and a beta of 1.04.

Heico (NYSE:HEI) last issued its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $1.26 EPS. The firm’s revenue was up 23.1% compared to the same quarter last year. On average, equities research analysts forecast that Heico Corporation will post 6.09 earnings per share for the current year.

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were paid a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s dividend payout ratio is presently 4.33%.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 4.86% of the company’s stock.

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.