Bank of New York Mellon Corp Makes New Investment in Heico Corporation $HEI

Bank of New York Mellon Corp acquired a new stake in shares of Heico Corporation (NYSE:HEI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 152,689 shares of the aerospace company’s stock, valued at approximately $54,386,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Diamant Asset Management Inc. grew its holdings in Heico by 25,698.9% during the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares during the period. Two Sigma Investments LP lifted its holdings in Heico by 0.6% in the third quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company’s stock valued at $180,347,000 after acquiring an additional 3,166 shares during the period. Fisher Asset Management LLC lifted its holdings in Heico by 12.1% in the fourth quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock valued at $105,615,000 after acquiring an additional 35,288 shares during the period. Munro Partners boosted its position in Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares in the last quarter. Finally, CI Investments Inc. boosted its position in Heico by 40.0% in the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock worth $53,080,000 after purchasing an additional 46,846 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.86% of the company’s stock.

Trending Headlines about Heico

Here are the key news stories impacting Heico this week:

• Positive Sentiment: HEICO’s third-quarter revenue rose 23% year over year to $1.41 billion, exceeding the $1.35 billion consensus estimate. Earnings per share reached $1.67, beating expectations of $1.51 and increasing from $1.26 a year earlier. HEICO Corporation Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Profitability was especially strong: net income increased 33% to a record $235.4 million, while operating income climbed 34%. Consolidated organic sales growth reached 14%, indicating that gains extended beyond acquisitions. HEICO Reports Record Fiscal Third-Quarter Results
• Positive Sentiment: HEICO subsidiary VPT expanded distribution through DigiKey for its military, avionics and space power-conversion products. The move could improve product accessibility and support future sales, although the near-term financial effect is likely limited. VPT Products Now Available on DigiKey
• Neutral Sentiment: The quarterly beat was driven by continued aerospace and defense demand, along with acquisitions. Investors will likely focus on whether HEICO can sustain its growth rate and margins in coming quarters. HEICO Third-Quarter Revenue Climbs
• Negative Sentiment: Despite the earnings beat, HEI trades at a high valuation, with a price-to-earnings ratio near 62 and a price-to-earnings-growth ratio of 3.56. That premium may be encouraging profit-taking and raising the bar for future earnings surprises.

Wall Street Analysts Forecast Growth

HEI has been the subject of several recent research reports. Truist Financial raised shares of Heico to a “strong-buy” rating in a report on Friday, May 1st. Wall Street Zen lowered shares of Heico from a “buy” rating to a “hold” rating in a research note on Sunday. Royal Bank Of Canada raised their target price on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Finally, Jefferies Financial Group set a $430.00 price target on Heico in a report on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.29.

Heico Stock Down 1.2%

Shares of NYSE HEI opened at $346.82 on Thursday. The stock has a market cap of $48.44 billion, a PE ratio of 57.71, a P/E/G ratio of 3.54 and a beta of 1.04. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The company has a 50-day moving average of $353.86 and a 200 day moving average of $321.38.

Heico (NYSE:HEI) last released its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.41%. The business’s revenue was up 23.1% on a year-over-year basis. During the same period last year, the company posted $1.26 EPS. As a group, sell-side analysts predict that Heico Corporation will post 6.02 EPS for the current fiscal year.

Heico Dividend Announcement

The business also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were issued a $0.13 dividend. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s dividend payout ratio is presently 4.64%.

Heico Company 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.