Heico Corporation $HEI Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Heico Corporation (NYSE:HEI) by 41.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 550,942 shares of the aerospace company’s stock after selling 390,849 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Heico were worth $196,240,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Navellier & Associates Inc. raised its holdings in Heico by 24.2% in the 2nd quarter. Navellier & Associates Inc. now owns 2,564 shares of the aerospace company’s stock valued at $913,000 after acquiring an additional 500 shares during the last quarter. Archer Investment Corp purchased a new stake in shares of Heico in the second quarter valued at approximately $333,000. Fulcrum Asset Management LLP acquired a new stake in shares of Heico in the second quarter valued at approximately $3,062,000. Liontrust Investment Partners LLP purchased a new position in Heico during the second quarter worth approximately $29,744,000. Finally, Dearborn Partners LLC purchased a new position in Heico during the second quarter worth approximately $480,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have issued reports on HEI shares. Stifel Nicolaus set a $410.00 target price on Heico in a report on Thursday. Royal Bank Of Canada lifted their price target on Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Jefferies Financial Group set a $430.00 price objective on shares of Heico and gave the company a “buy” rating in a report on Wednesday, August 26th. Citigroup raised their price objective on shares of Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group reiterated a “neutral” rating and issued a $396.00 target price (up from $382.00) on shares of Heico in a report on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Heico has a consensus rating of “Moderate Buy” and a consensus price target of $389.67.

Heico Stock Performance

NYSE:HEI opened at $331.10 on Tuesday. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The company has a 50 day moving average price of $353.82 and a 200 day moving average price of $321.60. The stock has a market capitalization of $46.24 billion, a P/E ratio of 55.09, a PEG ratio of 3.36 and a beta of 1.04.

Heico (NYSE:HEI) last announced its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities research analysts forecast that Heico Corporation will post 6.09 EPS for the current year.

Heico Announces Dividend

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

Insider Activity

In related news, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.86% of the company’s stock.

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.