Andra AP fonden Invests $45,000 in HEICO Co. (NYSE:HEI)

Andra AP fonden acquired a new stake in shares of HEICO Co. (NYSE:HEI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 200 shares of the aerospace company’s stock, valued at approximately $45,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. purchased a new position in HEICO during the fourth quarter valued at approximately $897,000. Meyer Handelman Co. bought a new position in HEICO in the 1st quarter worth $1,072,000. Quadrature Capital Ltd purchased a new stake in HEICO in the 1st quarter worth $2,796,000. Mediolanum International Funds Ltd purchased a new stake in HEICO in the 1st quarter worth $1,442,000. Finally, Dudley & Shanley Inc. lifted its position in shares of HEICO by 24.0% in the first quarter. Dudley & Shanley Inc. now owns 18,400 shares of the aerospace company’s stock valued at $3,514,000 after acquiring an additional 3,560 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HEI shares. Royal Bank of Canada increased their target price on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Robert W. Baird increased their price objective on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Morgan Stanley raised shares of HEICO from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Stifel Nicolaus raised their target price on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, HEICO presently has an average rating of “Moderate Buy” and a consensus target price of $259.67.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Eric A. Mendelson sold 2,832 shares of the company’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 transaction of $509,929.92. Following the transaction, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric A. Mendelson sold 8,864 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares of the company’s stock, valued at approximately $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 over the last three months. 8.10% of the stock is owned by company insiders.

HEICO Stock Performance

Shares of NYSE:HEI opened at $255.93 on Friday. The firm has a fifty day simple moving average of $238.29 and a two-hundred day simple moving average of $217.51. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $259.04. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $35.45 billion, a P/E ratio of 80.48, a PEG ratio of 3.54 and a beta of 1.22.

HEICO (NYSE:HEI) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The firm’s revenue was up 37.3% on a year-over-year basis. During the same quarter last year, the business posted $0.77 earnings per share. On average, analysts expect that HEICO Co. will post 3.63 earnings per share for the current fiscal year.

HEICO Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued a dividend of $0.11 per share. This represents a yield of 0.1%. The ex-dividend date was Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio is presently 6.92%.

HEICO Company 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.