Fulcrum Asset Management LLP Makes New $3.06 Million Investment in Heico Corporation $HEI

Fulcrum Asset Management LLP bought a new stake in Heico Corporation (NYSE:HEI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,738 shares of the aerospace company’s stock, valued at approximately $3,062,000.

Several other hedge funds have also added to or reduced their stakes in HEI. Liontrust Investment Partners LLP bought a new stake in Heico in the 2nd quarter valued at $29,744,000. Dearborn Partners LLC bought a new position in Heico during the 2nd quarter worth $480,000. Jefferies Financial Group Inc. raised its stake in Heico by 64.8% in the second quarter. Jefferies Financial Group Inc. now owns 3,639 shares of the aerospace company’s stock valued at $1,296,000 after purchasing an additional 1,431 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Heico during the 2nd quarter worth approximately $5,596,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Heico in the 2nd quarter valued at $367,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 4.86% of the company’s stock.

Heico Stock Performance

NYSE:HEI opened at $335.83 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The company has a 50 day simple moving average of $353.82 and a two-hundred day simple moving average of $321.55. The company has a market capitalization of $46.90 billion, a PE ratio of 55.88, a P/E/G ratio of 3.38 and a beta of 1.04.

Heico (NYSE:HEI) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (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 18.41%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company earned $1.26 EPS. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. Research analysts anticipate that Heico Corporation will post 6.05 earnings per share for the current year.

Heico Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a $0.13 dividend. The ex-dividend date was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s payout ratio is presently 4.33%.

Analyst Ratings Changes

Several brokerages have recently issued reports on HEI. Citigroup upped their price target on shares of Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a report on Friday. Wells Fargo & Company set a $350.00 price objective on Heico and gave the company an “equal weight” rating in a research note on Monday, June 1st. Susquehanna lifted their target price on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. UBS Group reissued a “neutral” rating and set a $396.00 target price (up from $382.00) on shares of Heico in a report on Thursday. Finally, Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $382.43.

Heico 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.