Cross Staff Investments Inc Purchases New Position in HEICO Co. (NYSE:HEI)

Cross Staff Investments Inc purchased a new stake in HEICO Co. (NYSE:HEI) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,000 shares of the aerospace company’s stock, valued at approximately $224,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Capital World Investors increased its holdings in HEICO by 10.5% in the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after purchasing an additional 311,304 shares in the last quarter. EULAV Asset Management grew its stake in shares of HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after acquiring an additional 66,800 shares in the last quarter. TCW Group Inc. grew its stake in shares of HEICO by 3.0% during the second quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after acquiring an additional 5,779 shares in the last quarter. Vantage Investment Partners LLC acquired a new stake in shares of HEICO during the second quarter valued at about $26,993,000. Finally, Azimuth Capital Investment Management LLC grew its stake in shares of HEICO by 118.3% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 93,108 shares of the aerospace company’s stock valued at $16,654,000 after acquiring an additional 50,448 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HEI shares. Robert W. Baird raised their target price on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays started coverage on HEICO in a research note on Monday, August 19th. They set an “equal weight” rating and a $250.00 target price for the company. Benchmark restated a “buy” rating and set a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Finally, Truist Financial increased their price target on shares of HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $259.67.

HEICO Stock Performance

Shares of HEI stock opened at $249.43 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.57 and a current ratio of 3.30. The company’s 50-day simple moving average is $235.90 and its 200-day simple moving average is $216.05. HEICO Co. has a one year low of $155.42 and a one year high of $259.04. The stock has a market capitalization of $34.55 billion, a price-to-earnings ratio of 78.44, a PEG ratio of 3.72 and a beta of 1.22.

HEICO (NYSE:HEI) last issued its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter last year, the company posted $0.77 earnings per share. HEICO’s revenue was up 37.3% on a year-over-year basis. Equities analysts anticipate that HEICO Co. will post 3.62 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.11 dividend. The ex-dividend date was Monday, July 1st. This represents a yield of 0.1%. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio (DPR) is currently 6.92%.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The disclosure for this purchase can be found here. Insiders have sold 85,206 shares of company stock valued at $15,571,927 over the last quarter. Insiders own 8.10% of the company’s stock.

HEICO Company 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.