Acadian Asset Management LLC Invests $1.33 Million in HEICO Co. (NYSE:HEI)

Acadian Asset Management LLC bought a new position in HEICO Co. (NYSE:HEI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,949 shares of the aerospace company’s stock, valued at approximately $1,330,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Capital World Investors lifted its holdings in shares of HEICO by 10.5% in the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after acquiring an additional 311,304 shares during the last quarter. EULAV Asset Management lifted its holdings in shares of HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after acquiring an additional 66,800 shares during the last quarter. TCW Group Inc. lifted its holdings in shares of HEICO by 3.0% in the second quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after acquiring an additional 5,779 shares during the last quarter. Vantage Investment Partners LLC bought a new position in shares of HEICO in the second quarter worth about $26,993,000. Finally, Azimuth Capital Investment Management LLC lifted its holdings in shares of HEICO by 118.3% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 93,108 shares of the aerospace company’s stock worth $16,654,000 after acquiring an additional 50,448 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Insiders Place Their Bets

In other news, Director Frank J. Schwitter bought 475 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Frank J. Schwitter bought 475 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the transaction, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,206 shares of company stock worth $15,571,927. Corporate insiders own 8.10% of the company’s stock.

HEICO Price Performance

HEICO stock opened at $259.35 on Monday. The stock has a market capitalization of $35.92 billion, a price-to-earnings ratio of 81.56, a PEG ratio of 3.61 and a beta of 1.22. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $260.84. The stock’s 50 day moving average price is $238.93 and its two-hundred day moving average price is $218.30. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

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

HEICO Increases Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HEI shares. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Barclays started coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Truist Financial upped their price objective on HEICO from $248.00 to $264.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Robert W. Baird upped their price objective on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Finally, Royal Bank of Canada upped their price objective on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, HEICO presently has an average rating of “Moderate Buy” and a consensus price target of $259.67.

About HEICO

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.