Selz Capital LLC Makes New Investment in Heico Corp (NYSE:HEI)
Selz Capital LLC bought a new position in Heico Corp (NYSE:HEI) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 107,500 shares of the aerospace company’s stock, valued at approximately $12,271,000. Heico accounts for approximately 2.2% of Selz Capital LLC’s investment portfolio, making the stock its 13th biggest holding.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Integrated Wealth Concepts LLC boosted its stake in Heico by 4.4% in the 2nd quarter. Integrated Wealth Concepts LLC now owns 2,238 shares of the aerospace company’s stock worth $299,000 after purchasing an additional 94 shares during the period. Verity Asset Management Inc. boosted its stake in Heico by 2.5% in the 3rd quarter. Verity Asset Management Inc. now owns 5,067 shares of the aerospace company’s stock worth $633,000 after purchasing an additional 122 shares during the period. PFG Advisors boosted its stake in Heico by 1.3% in the 4th quarter. PFG Advisors now owns 10,420 shares of the aerospace company’s stock worth $1,257,000 after purchasing an additional 130 shares during the period. Wedbush Securities Inc. boosted its stake in Heico by 7.9% in the 3rd quarter. Wedbush Securities Inc. now owns 1,974 shares of the aerospace company’s stock worth $247,000 after purchasing an additional 144 shares during the period. Finally, Blue Chip Wealth Management Inc. boosted its stake in Heico by 8.2% in the 3rd quarter. Blue Chip Wealth Management Inc. now owns 2,115 shares of the aerospace company’s stock worth $264,000 after purchasing an additional 161 shares during the period. Institutional investors and hedge funds own 26.11% of the company’s stock.
Several research analysts have commented on the company. Benchmark assumed coverage on Heico in a research note on Thursday. They issued a “buy” rating and a $144.00 target price for the company. SunTrust Banks cut their target price on Heico from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. ValuEngine upgraded Heico from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Canaccord Genuity reiterated a “buy” rating and set a $150.00 price target (down previously from $160.00) on shares of Heico in a research report on Wednesday, December 18th. Finally, UBS Group dropped their price target on Heico from $121.00 to $115.00 and set a “sell” rating for the company in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $129.90.
Heico (NYSE:HEI) last issued its quarterly earnings results on Monday, December 16th. The aerospace company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.05. The firm had revenue of $541.53 million during the quarter, compared to the consensus estimate of $529.56 million. Heico had a return on equity of 19.15% and a net margin of 15.95%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the company posted $0.49 EPS. As a group, analysts expect that Heico Corp will post 2.71 earnings per share for the current fiscal year.
The firm also recently declared a Semi-Annual dividend, which will be paid on Thursday, January 23rd. Stockholders of record on Thursday, January 9th will be given a dividend of $0.08 per share. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend is Wednesday, January 8th. This is an increase from Heico’s previous Semi-Annual dividend of $0.06. Heico’s dividend payout ratio (DPR) is 6.96%.
In other news, CFO Carlos L. Macau acquired 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were bought at an average cost of $91.21 per share, with a total value of $91,210.00. Following the acquisition, the chief financial officer now owns 8,322 shares in the company, valued at approximately $759,049.62. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank J. Schwitter acquired 1,210 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were purchased at an average cost of $94.82 per share, for a total transaction of $114,732.20. Following the completion of the acquisition, the director now owns 1,313 shares in the company, valued at approximately $124,498.66. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 3,159 shares of company stock valued at $320,487. Corporate insiders own 9.23% of the company’s stock.
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's 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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