Public Employees Retirement System of Ohio Has $10.77 Million Position in Heico Corporation $HEI

Public Employees Retirement System of Ohio lessened its stake in shares of Heico Corporation (NYSE:HEI) by 12.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,237 shares of the aerospace company’s stock after selling 4,252 shares during the period. Public Employees Retirement System of Ohio’s holdings in Heico were worth $10,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Capstone Investment Advisors LLC acquired a new position in Heico in the 2nd quarter valued at $367,000. Strive Financial Group LLC bought a new position in shares of Heico in the second quarter worth about $176,000. Parvin Asset Management LLC acquired a new position in shares of Heico during the 2nd quarter worth about $145,000. Freestone Grove Partners LP bought a new stake in Heico during the 2nd quarter valued at approximately $50,276,000. Finally, J. Goldman & Co LP bought a new position in Heico in the 2nd quarter worth approximately $7,769,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company set a $350.00 price objective on Heico and gave the company an “equal weight” rating in a research report on Monday, June 1st. UBS Group restated a “neutral” rating and issued a $396.00 price target (up from $382.00) on shares of Heico in a research report on Thursday. Susquehanna upped their price objective on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $491.00 price target on shares of Heico in a report on Monday. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Heico has an average rating of “Moderate Buy” and a consensus price target of $389.67.

Heico Price Performance

Shares of Heico stock opened at $331.10 on Tuesday. The firm has a market cap of $46.24 billion, a P/E ratio of 55.09, a price-to-earnings-growth ratio of 3.36 and a beta of 1.04. The firm’s 50-day simple moving average is $353.82 and its 200-day simple moving average is $321.60. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72.

Heico (NYSE:HEI) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter last year, the company earned $1.26 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. As a group, research analysts expect that Heico Corporation will post 6.09 EPS for the current fiscal year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Shareholders 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 presently 4.33%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.86% of the company’s stock.

About Heico

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.