Heico Corporation $HEI Position Trimmed by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in Heico Corporation (NYSE:HEI) by 11.8% in the third quarter, Holdings Channel.com reports. The firm owned 14,952 shares of the aerospace company’s stock after selling 2,000 shares during the quarter. Gabelli Funds LLC’s holdings in Heico were worth $4,827,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in HEI. American Century Companies Inc. grew its position in Heico by 45.7% during the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after purchasing an additional 241,559 shares in the last quarter. Munro Partners acquired a new stake in shares of Heico during the 2nd quarter valued at $59,720,000. AMJ Financial Wealth Management acquired a new stake in shares of Heico during the 2nd quarter valued at $11,552,000. Erste Asset Management GmbH grew its holdings in shares of Heico by 136.0% during the 3rd quarter. Erste Asset Management GmbH now owns 59,000 shares of the aerospace company’s stock valued at $18,752,000 after acquiring an additional 34,000 shares in the last quarter. Finally, CW Advisors LLC increased its stake in shares of Heico by 648.3% in the second quarter. CW Advisors LLC now owns 29,646 shares of the aerospace company’s stock worth $9,724,000 after acquiring an additional 25,684 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Trading Up 2.1%

Shares of HEI stock opened at $310.14 on Tuesday. Heico Corporation has a 12 month low of $229.07 and a 12 month high of $361.69. The company has a market cap of $43.22 billion, a PE ratio of 61.29, a price-to-earnings-growth ratio of 3.72 and a beta of 1.01. The company has a quick ratio of 1.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $335.11 and its two-hundred day moving average is $323.26.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period in the previous year, the company earned $1.20 earnings per share. Heico’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities analysts predict that Heico Corporation will post 4.2 EPS for the current year.

Heico Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were issued a dividend of $0.12 per share. This represents a yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s dividend payout ratio is 4.74%.

Analyst Ratings Changes

Several analysts recently issued reports on HEI shares. Truist Financial increased their price objective on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. UBS Group reaffirmed a “neutral” rating and issued a $371.00 target price (up from $359.00) on shares of Heico in a research report on Monday, December 22nd. Susquehanna initiated coverage on Heico in a research note on Friday, January 23rd. They set a “neutral” rating and a $385.00 price target for the company. Stifel Nicolaus set a $370.00 price target on Heico and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Citigroup restated a “buy” rating and issued a $415.00 price objective (up from $367.00) on shares of Heico in a report on Tuesday, January 13th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $364.43.

Heico Company 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.