Harbor Capital Advisors Inc. Invests $177,000 in HEICO Co. (NYSE:HEI)

Harbor Capital Advisors Inc. purchased a new position in shares of HEICO Co. (NYSE:HEI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 664 shares of the aerospace company’s stock, valued at approximately $177,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wealthfront Advisers LLC lifted its stake in shares of HEICO by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company’s stock worth $5,285,970,000 after purchasing an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in shares of HEICO during the 4th quarter worth $110,503,000. Freestone Grove Partners LP purchased a new stake in shares of HEICO during the 4th quarter worth $71,030,000. Squarepoint Ops LLC lifted its stake in shares of HEICO by 2,203.0% during the 4th quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company’s stock worth $20,691,000 after purchasing an additional 83,251 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of HEICO during the 4th quarter worth $16,578,000. Institutional investors own 27.12% of the company’s stock.

HEICO Stock Up 0.5%

HEICO stock opened at $305.54 on Monday. The firm has a market cap of $42.50 billion, a price-to-earnings ratio of 83.48, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07. HEICO Co. has a 52 week low of $216.68 and a 52 week high of $307.27. The business’s 50-day moving average price is $269.48 and its 200 day moving average price is $254.05. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.03 by $0.09. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.88 earnings per share. HEICO’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that HEICO Co. will post 4.2 earnings per share for the current year.

HEICO Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 1st will be issued a $0.12 dividend. This is a positive change from HEICO’s previous semi-annual dividend of $0.11. This represents a yield of 0.1%. The ex-dividend date is Tuesday, July 1st. HEICO’s dividend payout ratio (DPR) is presently 5.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HEI. Wall Street Zen upgraded HEICO from a “hold” rating to a “buy” rating in a research note on Friday, June 6th. UBS Group upped their price objective on HEICO from $264.00 to $306.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Truist Financial decreased their price objective on HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. William Blair restated an “outperform” rating on shares of HEICO in a research note on Tuesday, March 25th. Finally, Wells Fargo & Company increased their price target on HEICO from $244.00 to $278.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.45.

Insider Buying and Selling at HEICO

In other news, Director Alan Schriesheim sold 50,000 shares of HEICO stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total value of $11,978,500.00. Following the sale, the director now directly owns 157,197 shares of the company’s stock, valued at $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Frank J. Schwitter sold 356 shares of HEICO stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the sale, the director now directly owns 1,500 shares in the company, valued at $448,650. This represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,056 shares of company stock valued at $22,699,941. Company insiders own 9.55% of the company’s stock.

HEICO Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.