Advisors Asset Management Inc. Has $3.04 Million Stock Holdings in HEICO Co. (NYSE:HEI)

Advisors Asset Management Inc. raised its stake in HEICO Co. (NYSE:HEI) by 3.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,926 shares of the aerospace company’s stock after purchasing an additional 548 shares during the period. Advisors Asset Management Inc.’s holdings in HEICO were worth $3,042,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HEI. PFG Advisors lifted its position in HEICO by 578.7% during the fourth quarter. PFG Advisors now owns 10,961 shares of the aerospace company’s stock worth $1,961,000 after acquiring an additional 9,346 shares during the last quarter. Carderock Capital Management Inc. boosted its holdings in HEICO by 6.9% in the 4th quarter. Carderock Capital Management Inc. now owns 28,362 shares of the aerospace company’s stock valued at $5,073,000 after purchasing an additional 1,826 shares during the period. Moody Lynn & Lieberson LLC increased its holdings in shares of HEICO by 2.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,395 shares of the aerospace company’s stock worth $428,000 after purchasing an additional 60 shares during the period. Prime Capital Investment Advisors LLC acquired a new stake in shares of HEICO in the fourth quarter valued at approximately $214,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of HEICO in the fourth quarter valued at approximately $202,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HEI has been the subject of several analyst reports. Stifel Nicolaus lifted their price objective on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a report on Monday, May 6th. Truist Financial raised their target price on shares of HEICO from $240.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Robert W. Baird upped their price target on shares of HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Benchmark raised their target price on HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, HEICO currently has an average rating of “Moderate Buy” and a consensus target price of $236.89.

Insider Buying and Selling at HEICO

In other news, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the completion of the transaction, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the completion of the sale, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric A. Mendelson sold 20,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the transaction, the insider now owns 148,891 shares in the company, valued at approximately $27,707,126.19. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,206 shares of company stock worth $15,571,927. Insiders own 8.10% of the company’s stock.

HEICO Trading Up 1.5 %

HEICO stock traded up $3.47 during trading hours on Friday, hitting $234.23. The stock had a trading volume of 258,067 shares, compared to its average volume of 379,794. The stock has a market cap of $32.44 billion, a price-to-earnings ratio of 73.67, a P/E/G ratio of 3.38 and a beta of 1.20. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. The business’s 50 day simple moving average is $224.39 and its 200-day simple moving average is $203.42. HEICO Co. has a one year low of $155.42 and a one year high of $237.45.

HEICO (NYSE:HEI) last posted its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The business had revenue of $955.40 million for the quarter, compared to the consensus estimate of $951.24 million. During the same period last year, the company earned $0.76 EPS. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, equities analysts predict that HEICO Co. will post 3.57 EPS for the current fiscal year.

HEICO Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, July 1st. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. HEICO’s payout ratio is presently 6.92%.

About HEICO

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.