Public Employees Retirement System of Ohio Takes $5.60 Million Position in Heico Corporation $HEI

Public Employees Retirement System of Ohio acquired a new stake in shares of Heico Corporation (NYSE:HEI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 21,699 shares of the aerospace company’s stock, valued at approximately $5,596,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of HEI. Acadian Asset Management LLC grew its holdings in shares of Heico by 216.7% during the first quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 945 shares during the last quarter. Worldquant Millennium Advisors LLC acquired a new stake in Heico in the second quarter worth $2,338,000. PDT Partners LLC lifted its stake in Heico by 52.6% in the second quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock valued at $12,798,000 after buying an additional 13,443 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Heico by 10.8% in the second quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock valued at $1,572,000 after buying an additional 468 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

HEI has been the subject of several recent research reports. Wells Fargo & Company set a $350.00 price target on shares of Heico and gave the stock an “equal weight” rating in a research report on Monday, June 1st. Royal Bank Of Canada boosted their target price on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Morgan Stanley set a $365.00 target price on shares of Heico and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup raised their price target on shares of Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft set a $421.00 price target on Heico and gave the company a “buy” rating in a report on Wednesday, August 19th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Heico has an average rating of “Moderate Buy” and an average target price of $395.71.

Heico Trading Down 0.8%

Shares of HEI stock opened at $322.69 on Thursday. The stock has a 50-day simple moving average of $353.38 and a 200 day simple moving average of $321.57. The stock has a market capitalization of $45.07 billion, a P/E ratio of 53.69, a P/E/G ratio of 3.17 and a beta of 1.04. Heico Corporation has a fifty-two week low of $256.11 and a fifty-two week high of $376.86. The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51.

Heico (NYSE:HEI) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the company earned $1.26 EPS. Heico’s revenue was up 23.1% on a year-over-year basis. On average, sell-side analysts expect that Heico Corporation will post 6.13 earnings per share for the current fiscal year.

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st were issued a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s dividend payout ratio (DPR) is presently 4.33%.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of Heico 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 document filed with the SEC, which is accessible through the SEC website. Insiders own 4.86% of the company’s stock.

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.