Dixon Mitchell Investment Counsel Inc. Buys 2,331 Shares of Heico Corporation $HEI

Dixon Mitchell Investment Counsel Inc. grew its stake in Heico Corporation (NYSE:HEI) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 203,504 shares of the aerospace company’s stock after purchasing an additional 2,331 shares during the period. Heico makes up about 2.3% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 18th biggest position. Dixon Mitchell Investment Counsel Inc.’s holdings in Heico were worth $65,695,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. LGT Fund Management Co Ltd. purchased a new stake in Heico in the third quarter worth about $416,000. PFG Advisors grew its stake in Heico by 5.4% in the third quarter. PFG Advisors now owns 15,865 shares of the aerospace company’s stock worth $5,122,000 after purchasing an additional 814 shares during the period. Jefferies Financial Group Inc. purchased a new position in Heico during the third quarter valued at $371,000. Dynamic Technology Lab Private Ltd boosted its holdings in shares of Heico by 145.7% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 8,134 shares of the aerospace company’s stock valued at $2,626,000 after buying an additional 4,824 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new position in shares of Heico in the 3rd quarter worth about $321,000. Institutional investors own 27.12% of the company’s stock.

Heico Price Performance

NYSE HEI opened at $310.14 on Tuesday. The company has a 50-day moving average price of $335.11 and a 200-day moving average price of $323.26. Heico Corporation has a 52 week low of $229.07 and a 52 week high of $361.69. The company has a quick ratio of 1.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $43.22 billion, a P/E ratio of 61.29, a PEG ratio of 3.72 and a beta of 1.01.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Heico had a net margin of 15.38% and a return on equity of 16.57%. The firm’s revenue was up 14.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.20 earnings per share. Equities research analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, January 20th. Stockholders of record on Monday, January 5th were paid a dividend of $0.12 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Monday, January 5th. Heico’s dividend payout ratio (DPR) is currently 4.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on HEI shares. UBS Group reaffirmed a “neutral” rating and set a $371.00 target price (up from $359.00) on shares of Heico in a research note on Monday, December 22nd. Susquehanna began coverage on shares of Heico in a research report on Friday, January 23rd. They set a “neutral” rating and a $385.00 price objective on the stock. Wall Street Zen cut shares of Heico from a “buy” rating to a “hold” rating in a report on Sunday. Truist Financial increased their target price on Heico from $366.00 to $391.00 and gave the company a “buy” rating in a research note on Tuesday, December 23rd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a report on Monday, December 29th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $364.43.

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.