Citizens Business Bank Acquires Shares of 1,773 Heico Corporation $HEI

Citizens Business Bank bought a new stake in shares of Heico Corporation (NYSE:HEI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,773 shares of the aerospace company’s stock, valued at approximately $572,000.

Other institutional investors have also modified their holdings of the company. Avalon Capital Management raised its position in shares of Heico by 0.9% in the 2nd quarter. Avalon Capital Management now owns 3,895 shares of the aerospace company’s stock valued at $1,278,000 after purchasing an additional 33 shares in the last quarter. Simon Quick Advisors LLC grew its position in shares of Heico by 5.8% during the third quarter. Simon Quick Advisors LLC now owns 652 shares of the aerospace company’s stock worth $211,000 after buying an additional 36 shares in the last quarter. Pekin Hardy Strauss Inc. increased its stake in shares of Heico by 4.4% in the third quarter. Pekin Hardy Strauss Inc. now owns 887 shares of the aerospace company’s stock worth $286,000 after buying an additional 37 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of Heico by 100.0% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after buying an additional 43 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC raised its holdings in Heico by 0.4% in the third quarter. Alpine Woods Capital Investors LLC now owns 12,911 shares of the aerospace company’s stock valued at $4,168,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HEI. Weiss Ratings reissued a “buy (b-)” rating on shares of Heico in a report on Monday, December 29th. UBS Group reiterated a “neutral” rating and issued a $371.00 price target (up from $359.00) on shares of Heico in a research note on Monday, December 22nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $375.00 price objective (up from $355.00) on shares of Heico in a report on Monday, December 22nd. Truist Financial increased their target price on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a report on Tuesday, December 23rd. Finally, Stifel Nicolaus set a $370.00 price target on Heico and gave the company a “buy” rating in a report on Monday, December 22nd. Ten equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $364.43.

Heico Trading Down 1.6%

Shares of NYSE HEI opened at $344.93 on Thursday. Heico Corporation has a 12-month low of $227.12 and a 12-month high of $361.69. The company has a market cap of $48.07 billion, a price-to-earnings ratio of 70.25, a price-to-earnings-growth ratio of 3.87 and a beta of 1.01. The company has a current ratio of 2.83, a quick ratio of 1.28 and a debt-to-equity ratio of 0.49. The stock’s 50 day simple moving average is $337.49 and its 200 day simple moving average is $322.81.

Heico (NYSE:HEI) last issued its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.09. Heico had a return on equity of 16.80% and a net margin of 15.39%.The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. Equities research analysts expect that Heico Corporation will post 4.2 EPS for the current year.

Heico Dividend Announcement

The company also recently disclosed a dividend, which was paid on Tuesday, January 20th. Investors of record on Monday, January 5th were given a $0.12 dividend. The ex-dividend date was Monday, January 5th. This represents a yield of 7.0%. Heico’s dividend payout ratio (DPR) is currently 4.89%.

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.