Marsico Capital Management LLC Grows Position in HEICO Co. (NYSE:HEI)

Marsico Capital Management LLC raised its stake in HEICO Co. (NYSE:HEI) by 19.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 114,236 shares of the aerospace company’s stock after acquiring an additional 18,465 shares during the quarter. HEICO makes up 0.8% of Marsico Capital Management LLC’s portfolio, making the stock its 24th biggest holding. Marsico Capital Management LLC owned approximately 0.08% of HEICO worth $25,544,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital World Investors lifted 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. AGF Management Ltd. lifted its stake in shares of HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after buying an additional 362,625 shares during the period. EULAV Asset Management boosted its position in HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after acquiring an additional 66,800 shares during the last quarter. TCW Group Inc. grew its stake in HEICO by 3.0% in the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after acquiring an additional 5,779 shares during the period. Finally, Vantage Investment Partners LLC acquired a new position in HEICO in the 2nd quarter valued at $26,993,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HEICO

In other news, Director Frank J. Schwitter bought 475 shares of HEICO stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the transaction, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now directly owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The disclosure for this sale can be found here. Insiders sold 85,206 shares of company stock valued at $15,571,927 over the last 90 days. 8.10% of the stock is owned by corporate insiders.

HEICO Price Performance

HEICO stock opened at $261.79 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $36.26 billion, a P/E ratio of 82.32, a PEG ratio of 3.61 and a beta of 1.22. The firm has a fifty day moving average of $239.62 and a 200-day moving average of $218.78. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $264.22.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s revenue was up 37.3% compared to the same quarter last year. As a group, analysts predict that HEICO Co. will post 3.63 EPS for the current year.

HEICO Increases Dividend

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

Wall Street Analysts Forecast Growth

HEI has been the topic of several analyst reports. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Stifel Nicolaus lifted their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Bank of America increased their price objective on shares of HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Robert W. Baird boosted their target price on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, HEICO presently has a consensus rating of “Moderate Buy” and an average price target of $259.67.

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.