Jennison Associates LLC Reduces Stock Holdings in Heico Corporation $HEI

Jennison Associates LLC lowered its holdings in Heico Corporation (NYSE:HEI) by 24.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,149 shares of the aerospace company’s stock after selling 21,498 shares during the quarter. Jennison Associates LLC’s holdings in Heico were worth $18,412,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HEI. IFC & Insurance Marketing Inc. purchased a new stake in Heico in the fourth quarter valued at $26,000. CBIZ Investment Advisory Services LLC raised its stake in shares of Heico by 1,000.0% during 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 during the last quarter. Birchwood Financial Partners Inc. acquired a new position in shares of Heico in the 4th quarter valued at about $32,000. V Square Quantitative Management LLC acquired a new position in shares of Heico in the 4th quarter valued at about $37,000. Finally, FNY Investment Advisers LLC boosted its stake in shares of Heico by 862.5% in the fourth quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock worth $49,000 after buying an additional 138 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.86% of the company’s stock.

Heico Stock Up 0.2%

Shares of HEI opened at $340.98 on Wednesday. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico Corporation has a 12 month low of $256.11 and a 12 month high of $369.48. The stock’s 50 day moving average is $332.65 and its two-hundred day moving average is $317.94. The firm has a market cap of $47.62 billion, a P/E ratio of 60.89, a PEG ratio of 3.53 and a beta of 1.03.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business’s revenue was up 25.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Analysts predict that Heico Corporation will post 5.95 earnings per share for the current fiscal year.

Heico Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on HEI shares. Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. UBS Group restated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Susquehanna raised their price objective on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Morgan Stanley set a $370.00 target price on shares of Heico in a report on Wednesday, July 15th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 target price (up from $375.00) on shares of Heico in a research note on Thursday, May 28th. Three 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 company’s stock. According to MarketBeat, Heico has a consensus 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.