Hennion & Walsh Asset Management Inc. Purchases Shares of 1,608 HEICO Co. (NYSE:HEI)

Hennion & Walsh Asset Management Inc. purchased a new stake in HEICO Co. (NYSE:HEI) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,608 shares of the aerospace company’s stock, valued at approximately $307,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zeno Equity Partners LLP purchased a new stake in HEICO in the fourth quarter valued at about $25,000. Psagot Value Holdings Ltd. Israel purchased a new position in shares of HEICO in the fourth quarter worth about $70,000. Beaumont Financial Advisors LLC purchased a new position in shares of HEICO in the fourth quarter worth about $200,000. Sequoia Financial Advisors LLC purchased a new position in shares of HEICO in the fourth quarter worth about $202,000. Finally, Anchor Investment Management LLC purchased a new position in shares of HEICO in the fourth quarter worth about $203,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Truist Financial restated a “buy” rating and issued a $240.00 price objective (up from $229.00) on shares of HEICO in a research note on Thursday, May 30th. Stifel Nicolaus raised their price objective on HEICO from $215.00 to $230.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Deutsche Bank Aktiengesellschaft raised their target price on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Royal Bank of Canada raised their target price on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Finally, Benchmark raised their target price on HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.00.

Insider Activity

In other news, insider Eric A. Mendelson sold 2,832 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 8.10% of the company’s stock.

HEICO Stock Up 1.7 %

Shares of HEI opened at $228.03 on Friday. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. HEICO Co. has a 12 month low of $155.42 and a 12 month high of $232.02. The stock’s 50 day moving average is $219.10 and its two-hundred day moving average is $197.94. The firm has a market cap of $31.58 billion, a P/E ratio of 71.71, a PEG ratio of 3.30 and a beta of 1.20.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The company had revenue of $955.40 million for the quarter, compared to analyst estimates of $951.24 million. During the same period last year, the company earned $0.76 earnings per share. HEICO’s quarterly revenue was up 38.9% compared to the same quarter last year. Analysts predict that HEICO Co. will post 3.56 earnings per share for the current fiscal year.

HEICO Increases Dividend

The company also recently announced a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a $0.11 dividend. This represents a dividend yield of 0.1%. The ex-dividend date is Monday, July 1st. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio (DPR) is 6.92%.

HEICO Profile

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.