Carnegie Investment Counsel Lowers Stake in HEICO Co. (NYSE:HEI)

Carnegie Investment Counsel lowered its stake in HEICO Co. (NYSE:HEI) by 2.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,001 shares of the aerospace company’s stock after selling 315 shares during the quarter. Carnegie Investment Counsel’s holdings in HEICO were worth $3,354,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Capital World Investors increased its holdings in shares of HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after acquiring an additional 311,304 shares in the last quarter. Zeno Equity Partners LLP boosted its position in shares of HEICO by 154.3% during the first quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock valued at $30,860,000 after buying an additional 98,033 shares during the last quarter. EULAV Asset Management increased its holdings in HEICO by 23.4% in the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares in the last quarter. Azimuth Capital Investment Management LLC raised its position in HEICO by 118.3% in the 4th quarter. Azimuth Capital Investment Management LLC now owns 93,108 shares of the aerospace company’s stock worth $16,654,000 after buying an additional 50,448 shares during the last quarter. Finally, TCW Group Inc. lifted its stake in HEICO by 10.6% during the 4th quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock valued at $31,499,000 after acquiring an additional 16,878 shares during the period. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 222,401 shares in the company, valued at approximately $40,152,276.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 148,891 shares in the company, valued at approximately $27,707,126.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of the 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 sale, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. Insiders sold 85,206 shares of company stock valued at $15,571,927 in the last three months. Corporate insiders own 8.10% of the company’s stock.

HEICO Price Performance

HEI traded up $0.69 during trading on Tuesday, reaching $239.60. 201,326 shares of the company traded hands, compared to its average volume of 377,256. The company has a market cap of $33.18 billion, a P/E ratio of 75.06, a PEG ratio of 3.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52. HEICO Co. has a 12-month low of $155.42 and a 12-month high of $258.84. The firm has a fifty day simple moving average of $229.54 and a 200 day simple moving average of $210.34.

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

HEICO Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a yield of 0.1%. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio (DPR) is 6.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HEI shares. Barclays assumed coverage on shares of HEICO in a research report on Monday. They set an “equal weight” rating and a $250.00 price objective on the stock. Royal Bank of Canada increased their price objective on shares of HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Stifel Nicolaus boosted their target price on shares of HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Benchmark upped their target price on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Robert W. Baird lifted their price target on shares of HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $241.78.

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.