5,927 Shares in Heico Corporation $HEI Purchased by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. acquired a new position in shares of Heico Corporation (NYSE:HEI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,927 shares of the aerospace company’s stock, valued at approximately $2,111,000.

Several other institutional investors have also made changes to their positions in the business. Diamant Asset Management Inc. boosted its holdings in Heico by 25,698.9% during the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after purchasing an additional 760,687 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Heico during the 2nd quarter worth about $54,386,000. Munro Partners grew its stake in shares of Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after purchasing an additional 87,265 shares during the last quarter. CI Investments Inc. increased its stake in shares of Heico by 40.0% in the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock valued at $53,080,000 after buying an additional 46,846 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Heico by 263.2% in the third quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after purchasing an additional 43,821 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.86% of the stock is currently owned by company insiders.

Heico Stock Up 1.4%

Shares of HEI opened at $355.49 on Friday. The firm has a market cap of $49.65 billion, a P/E ratio of 63.48, a price-to-earnings-growth ratio of 3.59 and a beta of 1.04. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $376.86. The firm’s 50-day simple moving average is $353.04 and its 200 day simple moving average is $320.96.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm posted $1.12 EPS. The firm’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts forecast that Heico Corporation will post 6.02 earnings per share for the current year.

Heico Dividend Announcement

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a dividend yield of 7.0%. Heico’s dividend payout ratio (DPR) is currently 4.64%.

Analyst Ratings Changes

HEI has been the subject of a number of analyst reports. Citigroup reaffirmed a “buy” rating and set a $429.00 target price (up from $410.00) on shares of Heico in a report on Thursday, August 13th. Truist Financial upgraded Heico to a “strong-buy” rating in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $421.00 target price on Heico and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada raised their price target on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Susquehanna raised their price objective on Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Three analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.56.

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.