Carderock Capital Management Inc. Grows Stock Position in Heico Corporation $HEI

Carderock Capital Management Inc. lifted its position in Heico Corporation (NYSE:HEI) by 6.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,081 shares of the aerospace company’s stock after buying an additional 2,556 shares during the period. Heico makes up about 3.1% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 6th biggest position. Carderock Capital Management Inc.’s holdings in Heico were worth $14,276,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Indivisible Partners purchased a new position in Heico in the fourth quarter worth about $5,883,000. PFA Pension Forsikringsaktieselskab bought a new stake in shares of Heico during the 4th quarter valued at about $8,395,000. Verde Capital Management purchased a new stake in shares of Heico during the 1st quarter valued at about $1,204,000. CPC Advisors LLC increased its position in shares of Heico by 208.4% during the 1st quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company’s stock valued at $2,519,000 after purchasing an additional 6,208 shares during the last quarter. Finally, Wendell David Associates Inc. lifted its stake in shares of Heico by 54.5% in the 1st quarter. Wendell David Associates Inc. now owns 10,189 shares of the aerospace company’s stock worth $2,794,000 after purchasing an additional 3,595 shares during the period. Institutional investors own 27.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HEI shares. Truist Financial raised shares of Heico to a “strong-buy” rating in a report on Friday, May 1st. Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a research note on Saturday. Royal Bank Of Canada boosted their price objective on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Rothschild & Co Redburn set a $360.00 price objective on Heico and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Three investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have assigned a Hold rating to the company’s 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 Stock Up 2.3%

Shares of HEI stock opened at $368.80 on Wednesday. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $370.39. The stock has a market cap of $51.51 billion, a P/E ratio of 65.86, a P/E/G ratio of 3.73 and a beta of 1.04. The stock has a 50 day moving average of $343.97 and a 200 day moving average of $318.55. 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 (NYSE:HEI) last announced its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the business posted $1.12 EPS. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. As a group, sell-side analysts expect that Heico Corporation will post 5.95 EPS for the current year.

Heico Announces Dividend

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

Insider Activity

In related news, CAO Bradley K. Rowen sold 1,326 shares of the company’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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.86% of the stock is owned by corporate insiders.

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.