Quartz Partners LLC Makes New Investment in Heico Corporation $HEI

Quartz Partners LLC acquired a new stake in shares of Heico Corporation (NYSE:HEI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,210 shares of the aerospace company’s stock, valued at approximately $787,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maridea Wealth Management LLC bought a new stake in shares of Heico in the 2nd quarter worth approximately $1,128,000. Indivisible Partners bought a new stake in Heico in the fourth quarter worth $5,883,000. PFA Pension Forsikringsaktieselskab purchased a new stake in Heico during the fourth quarter valued at about $8,395,000. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Heico during the second quarter valued at about $1,262,000. Finally, CPC Advisors LLC grew its stake in shares of Heico by 208.4% during the first quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company’s stock valued at $2,519,000 after buying an additional 6,208 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Insider Activity at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.86% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Citigroup reissued a “buy” rating and issued a $429.00 target price (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. UBS Group reiterated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Royal Bank Of Canada raised their target price on shares of Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Three equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $379.56.

Heico Trading Down 1.2%

NYSE:HEI opened at $363.68 on Thursday. The company has a 50-day moving average price of $352.33 and a 200-day moving average price of $320.57. Heico Corporation has a 12 month low of $256.11 and a 12 month high of $376.86. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The stock has a market cap of $50.79 billion, a price-to-earnings ratio of 64.94, a P/E/G ratio of 3.81 and a beta of 1.04.

Heico (NYSE:HEI) last announced its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the company earned $1.12 earnings per share. Heico’s quarterly revenue was up 25.3% on a year-over-year basis. Equities analysts predict that Heico Corporation will post 5.95 EPS for the current year.

Heico Announces Dividend

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

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.