Somerville Kurt F Makes New Investment in Heico Corporation $HEI

Somerville Kurt F bought a new stake in Heico Corporation (NYSE:HEI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,474 shares of the aerospace company’s stock, valued at approximately $380,000.

Other hedge funds have also made changes to their positions in the company. IFC & Insurance Marketing Inc. acquired a new stake in shares of Heico during the 4th quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its position in shares of Heico by 1,000.0% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock valued at $28,000 after buying an additional 80 shares during the period. Birchwood Financial Partners Inc. acquired a new position in Heico in the fourth quarter valued at approximately $32,000. Miller Capital Partners Inc. acquired a new position in Heico in the fourth quarter valued at approximately $70,000. Finally, BNP Paribas purchased a new position in Heico in the fourth quarter worth approximately $79,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Insider Transactions at Heico

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were 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 the SEC website. 4.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the company a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group reiterated a “buy” rating and set a $425.00 price target on shares of Heico in a report on Thursday, August 13th. Zacks Research raised Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Citigroup restated a “buy” rating and issued a $429.00 price objective (up from $410.00) on shares of Heico in a report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft set a $421.00 target price on shares of Heico and gave the company a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $379.56.

Heico Trading Down 1.2%

Shares of NYSE HEI opened at $363.68 on Thursday. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The stock has a fifty day simple moving average of $352.33 and a 200-day simple moving average of $320.57. The stock has a market capitalization of $50.79 billion, a PE ratio of 64.94, a PEG ratio of 3.81 and a beta of 1.04.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities analysts forecast that Heico Corporation will post 5.95 earnings per share for the current year.

Heico Dividend Announcement

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