SummitTX Capital L.P. Has $5.19 Million Stock Position in Heico Corporation $HEI

SummitTX Capital L.P. reduced its holdings in Heico Corporation (NYSE:HEI) by 45.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,929 shares of the aerospace company’s stock after selling 16,036 shares during the period. SummitTX Capital L.P.’s holdings in Heico were worth $5,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HEI. IFC & Insurance Marketing Inc. purchased a new stake in shares of Heico in the fourth quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Heico by 1,000.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock worth $28,000 after acquiring an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. purchased a new stake in shares of Heico during the fourth quarter worth $32,000. V Square Quantitative Management LLC acquired a new stake in Heico during the fourth quarter valued at $37,000. Finally, FNY Investment Advisers LLC grew its stake in Heico by 862.5% in the fourth quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after purchasing an additional 138 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.86% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HEI. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. UBS Group restated a “neutral” rating and set a $390.00 price target (up from $371.00) on shares of Heico in a research note on Monday, June 1st. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $410.00 price objective (up from $375.00) on shares of Heico in a research note on Thursday, May 28th. Finally, Truist Financial upgraded shares of Heico to a “strong-buy” rating in a report on Friday, May 1st. Three analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Heico currently has a consensus rating of “Moderate Buy” and a consensus price target of $374.56.

Heico Price Performance

NYSE:HEI opened at $357.60 on Tuesday. The stock has a market cap of $49.94 billion, a P/E ratio of 63.86, a PEG ratio of 3.62 and a beta of 1.03. Heico Corporation has a one year low of $256.11 and a one year high of $369.48. The company has a fifty day moving average price of $336.89 and a 200 day moving average price of $318.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36.

Heico (NYSE:HEI) last posted its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same period last year, the business posted $1.12 EPS. The business’s quarterly revenue was up 25.3% on a year-over-year basis. Analysts anticipate that Heico Corporation will post 5.95 earnings per share for the current year.

Heico Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s dividend payout ratio (DPR) is 4.64%.

Heico Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.