Morningstar Investment Management LLC Makes New $438,000 Investment in Heico Corporation $HEI

Morningstar Investment Management LLC purchased a new position in Heico Corporation (NYSE:HEI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,598 shares of the aerospace company’s stock, valued at approximately $438,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. IFC & Insurance Marketing Inc. purchased a new position in Heico in the fourth quarter valued at about $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in shares of Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock valued at $28,000 after buying an additional 80 shares in the last quarter. Birchwood Financial Partners Inc. bought a new position in shares of Heico during the 4th quarter worth approximately $32,000. V Square Quantitative Management LLC acquired a new stake in Heico in the fourth quarter valued at approximately $37,000. Finally, FNY Investment Advisers LLC boosted its stake in Heico by 862.5% in the fourth quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after acquiring an additional 138 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.

Heico Price Performance

Shares of NYSE HEI opened at $349.34 on Monday. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $369.48. The business’s 50 day moving average price is $335.62 and its 200 day moving average price is $318.16. The company has a quick ratio of 1.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.53. The firm has a market cap of $48.79 billion, a P/E ratio of 62.38, a P/E/G ratio of 3.62 and a beta of 1.03.

Heico (NYSE:HEI) last released its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $1.12 earnings per share. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, sell-side analysts expect that Heico Corporation will post 5.95 earnings per share for the current year.

Heico Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is 4.64%.

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 stock was sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 4.86% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

HEI has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $410.00 price target (up from $375.00) on shares of Heico in a report on Thursday, May 28th. Wells Fargo & Company set a $350.00 target price on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Rothschild & Co Redburn set a $360.00 target price on shares of Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Zacks Research raised shares of Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Citigroup reiterated a “buy” rating and set a $410.00 price objective (up from $403.00) on shares of Heico in a research note on Wednesday, July 1st. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $374.56.

Heico Company 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.