Sumitomo Life Insurance Co. Boosts Stock Holdings in Heico Corporation $HEI

Sumitomo Life Insurance Co. lifted its stake in Heico Corporation (NYSE:HEI) by 97.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,920 shares of the aerospace company’s stock after purchasing an additional 4,892 shares during the period. Sumitomo Life Insurance Co.’s holdings in Heico were worth $3,202,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in Heico by 68.9% during the 2nd quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company’s stock worth $173,232,000 after purchasing an additional 215,530 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its position in shares of Heico by 3.8% during the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 201,173 shares of the aerospace company’s stock worth $65,985,000 after buying an additional 7,364 shares in the last quarter. Munro Partners increased its stake in shares of Heico by 8.5% during the third quarter. Munro Partners now owns 197,633 shares of the aerospace company’s stock worth $63,800,000 after buying an additional 15,560 shares during the period. Marsico Capital Management LLC raised its holdings in Heico by 13.8% in the second quarter. Marsico Capital Management LLC now owns 99,287 shares of the aerospace company’s stock valued at $32,566,000 after acquiring an additional 12,021 shares in the last quarter. Finally, PDT Partners LLC lifted its stake in Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after acquiring an additional 13,443 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Price Performance

Shares of NYSE:HEI opened at $344.93 on Thursday. The business’s fifty day moving average price is $337.49 and its two-hundred day moving average price is $322.81. Heico Corporation has a one year low of $227.12 and a one year high of $361.69. The stock has a market cap of $48.07 billion, a PE ratio of 70.25, a price-to-earnings-growth ratio of 3.87 and a beta of 1.01. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 2.83.

Heico (NYSE:HEI) last announced its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Heico had a net margin of 15.39% and a return on equity of 16.80%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter last year, the business earned $1.20 earnings per share. Heico’s revenue was up 14.4% compared to the same quarter last year. On average, analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were issued a $0.12 dividend. This represents a dividend yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s dividend payout ratio (DPR) is 4.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of Heico from a “buy” rating to a “hold” rating in a research report on Saturday, December 27th. Royal Bank Of Canada reissued an “outperform” rating and issued a $375.00 target price (up from $350.00) on shares of Heico in a report on Monday, December 22nd. Susquehanna started coverage on Heico in a report 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 objective on Heico and gave the company a “buy” rating in a report on Monday, December 22nd. Finally, Citigroup reissued a “buy” rating and issued a $415.00 target price (up from $367.00) on shares of Heico in a research report on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.