Ibex Wealth Advisors Trims Position in HEICO Co. (NYSE:HEI)

Ibex Wealth Advisors lowered its holdings in HEICO Co. (NYSE:HEI) by 9.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,057 shares of the aerospace company’s stock after selling 2,024 shares during the period. Ibex Wealth Advisors’ holdings in HEICO were worth $4,768,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HEI. Rakuten Securities Inc. acquired a new position in shares of HEICO during the 3rd quarter valued at about $81,000. Berbice Capital Management LLC acquired a new stake in HEICO during the fourth quarter worth about $95,000. Brooklyn Investment Group purchased a new position in HEICO in the 3rd quarter worth approximately $128,000. Global Trust Asset Management LLC acquired a new position in shares of HEICO during the third quarter worth $144,000. Finally, Arcadia Investment Management Corp MI purchased a new position in shares of HEICO in the third quarter valued at $157,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Stock Performance

Shares of HEI stock traded up $0.76 during trading hours on Wednesday, reaching $235.89. The stock had a trading volume of 17,797 shares, compared to its average volume of 621,219. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. The firm has a 50-day simple moving average of $248.08 and a 200-day simple moving average of $249.75. The firm has a market capitalization of $32.75 billion, a PE ratio of 64.47, a price-to-earnings-growth ratio of 3.32 and a beta of 1.28. HEICO Co. has a twelve month low of $178.20 and a twelve month high of $283.60.

HEICO (NYSE:HEI) last posted its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $0.74 EPS. The firm’s revenue was up 8.2% compared to the same quarter last year. As a group, equities analysts forecast that HEICO Co. will post 4.2 earnings per share for the current year.

HEICO Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were paid a dividend of $0.11 per share. The ex-dividend date was Friday, January 3rd. This represents a yield of 0.1%. HEICO’s payout ratio is 6.01%.

Analyst Ratings Changes

HEI has been the subject of a number of analyst reports. UBS Group started coverage on shares of HEICO in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective for the company. Truist Financial lifted their price objective on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, October 18th. KeyCorp started coverage on shares of HEICO in a report on Thursday, January 16th. They issued a “sector weight” rating on the stock. Morgan Stanley upped their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.20.

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.