Mezzasalma Advisors LLC Lowers Position in HEICO Co. (NYSE:HEI)

Mezzasalma Advisors LLC trimmed its position in shares of HEICO Co. (NYSE:HEI) by 25.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,166 shares of the aerospace company’s stock after selling 1,759 shares during the quarter. Mezzasalma Advisors LLC’s holdings in HEICO were worth $987,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Gotham Asset Management LLC increased its holdings in HEICO by 9.3% in the third quarter. Gotham Asset Management LLC now owns 4,098 shares of the aerospace company’s stock valued at $664,000 after buying an additional 349 shares in the last quarter. EULAV Asset Management raised its holdings in HEICO by 50.9% in the 3rd quarter. EULAV Asset Management now owns 233,593 shares of the aerospace company’s stock worth $37,826,000 after purchasing an additional 78,779 shares during the period. KPP Advisory Services LLC purchased a new position in HEICO during the third quarter worth approximately $288,000. Kingdon Capital Management L.L.C. grew its holdings in HEICO by 12.5% in the third quarter. Kingdon Capital Management L.L.C. now owns 90,000 shares of the aerospace company’s stock valued at $14,574,000 after purchasing an additional 10,000 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in HEICO in the third quarter valued at approximately $705,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Robert W. Baird increased their target price on HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up from $229.00) on shares of HEICO in a report on Thursday, May 30th. Bank of America lifted their target price on shares of HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

HEICO Price Performance

Shares of NYSE:HEI traded up $3.90 during midday trading on Thursday, hitting $228.03. The company had a trading volume of 304,558 shares, compared to its average volume of 373,319. HEICO Co. has a twelve month low of $155.42 and a twelve month high of $232.02. The stock has a market cap of $31.58 billion, a price-to-earnings ratio of 71.71, a price-to-earnings-growth ratio of 3.30 and a beta of 1.20. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.52 and a quick ratio of 1.57. The business’s 50-day simple moving average is $219.10 and its 200-day simple moving average is $197.94.

HEICO (NYSE:HEI) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. The company had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.76 EPS. On average, research analysts predict that HEICO Co. will post 3.56 earnings per share for the current year.

HEICO Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a dividend of $0.11 per share. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. The ex-dividend date of this dividend is Monday, July 1st. HEICO’s dividend payout ratio (DPR) is presently 6.92%.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 2,832 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the completion of the sale, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.10% of the stock is owned by insiders.

HEICO Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.