Andina Capital Management LLC Makes New $485,000 Investment in Heico Corporation $HEI

by · The Cerbat Gem

Andina Capital Management LLC purchased a new position in Heico Corporation (NYSE:HEI – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,815 shares of the aerospace company’s stock, valued at approximately $485,000.

Other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC raised its stake in shares of Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. United Capital Financial Advisors LLC raised its stake in shares of Heico by 5.7% in the fourth quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company’s stock worth $248,000 after purchasing an additional 56 shares during the last quarter. Benjamin Edwards Inc. raised its stake in shares of Heico by 1.2% in the fourth quarter. Benjamin Edwards Inc. now owns 5,822 shares of the aerospace company’s stock worth $1,384,000 after purchasing an additional 70 shares during the last quarter. Linden Thomas Advisory Services LLC raised its stake in shares of Heico by 1.1% in the first quarter. Linden Thomas Advisory Services LLC now owns 6,586 shares of the aerospace company’s stock worth $1,760,000 after purchasing an additional 73 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in shares of Heico by 5.2% in the fourth quarter. Tidal Investments LLC now owns 1,638 shares of the aerospace company’s stock worth $389,000 after purchasing an additional 81 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Stock Performance

Shares of Heico stock opened at $307.69 on Tuesday. The business’s fifty day simple moving average is $317.26 and its 200-day simple moving average is $278.28. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The company has a quick ratio of 1.56, a current ratio of 3.43 and a debt-to-equity ratio of 0.56. The firm has a market cap of $42.80 billion, a PE ratio of 71.89, a price-to-earnings-growth ratio of 3.83 and a beta of 1.11.

Heico (NYSE:HEI – Get Free Report) last posted its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the company earned $0.88 EPS. Heico’s revenue was up 14.9% on a year-over-year basis. Equities analysts forecast that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a dividend of $0.12 per share. This represents a yield of 10.0%. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Heico’s previous semi-annual dividend of $0.11. Heico’s dividend payout ratio is currently 5.61%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HEI. Wells Fargo & Company raised their price objective on Heico from $244.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Friday, May 30th. Truist Financial lifted their price target on Heico from $323.00 to $352.00 and gave the company a “buy” rating in a research report on Friday, July 11th. Stifel Nicolaus set a $352.00 price target on Heico and gave the company a “buy” rating in a research report on Tuesday, June 24th. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Barclays set a $280.00 price target on Heico and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $301.45.

Check Out Our Latest Analysis on HEI

Insider Buying and Selling

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the transaction, the director directly owned 1,500 shares in the company, valued at approximately $448,650. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 91,656 shares of company stock valued at $28,534,115. Corporate insiders own 9.55% of the company’s stock.

Heico Company Profile

(Free Report)

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.

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