Heico Corporation $HEI Shares Sold by Lombard Odier Asset Management USA Corp

Lombard Odier Asset Management USA Corp cut its holdings in shares of Heico Corporation (NYSE:HEI) by 62.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,443 shares of the aerospace company’s stock after selling 5,738 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Heico were worth $1,111,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HEI. American Century Companies Inc. grew its holdings in Heico by 45.7% in the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after buying an additional 241,559 shares during the period. Munro Partners purchased a new position in shares of Heico during the 2nd quarter worth about $59,720,000. Balyasny Asset Management L.P. lifted its holdings in shares of Heico by 263.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after acquiring an additional 43,821 shares during the period. AMJ Financial Wealth Management acquired a new stake in shares of Heico in the second quarter worth approximately $11,552,000. Finally, Erste Asset Management GmbH boosted its position in shares of Heico by 136.0% in the third quarter. Erste Asset Management GmbH now owns 59,000 shares of the aerospace company’s stock worth $18,752,000 after acquiring an additional 34,000 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Trading Up 1.2%

NYSE HEI opened at $291.79 on Tuesday. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 57.67, a PEG ratio of 3.53 and a beta of 1.01. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. Heico Corporation has a one year low of $229.07 and a one year high of $361.69. The company’s 50 day moving average price is $331.84 and its 200 day moving average price is $322.55.

Heico (NYSE:HEI) last released its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same period in the previous year, the firm earned $1.20 earnings per share. Heico’s revenue for the quarter was up 14.4% on a year-over-year basis. On average, sell-side analysts predict that Heico Corporation will post 4.2 EPS for the current year.

Heico Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were given a dividend of $0.12 per share. This represents a yield of 7.0%. The ex-dividend date of this dividend was Monday, January 5th. Heico’s dividend payout ratio is 4.74%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. UBS Group reaffirmed a “neutral” rating and set a $371.00 price target (up from $359.00) on shares of Heico in a research report on Monday, December 22nd. Truist Financial lifted their price target on shares of Heico from $366.00 to $391.00 and gave the company a “buy” rating in a report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $375.00 price objective (up from $355.00) on shares of Heico in a research note on Monday, December 22nd. Weiss Ratings restated a “buy (b-)” rating on shares of Heico in a report on Monday, December 29th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $375.00 target price (up from $350.00) on shares of Heico in a report on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $364.43.

About Heico

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.