Bellwether Advisors LLC Cuts Holdings in Heico Corporation $HEI

Bellwether Advisors LLC lowered its stake in shares of Heico Corporation (NYSE:HEI) by 23.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,098 shares of the aerospace company’s stock after selling 4,017 shares during the quarter. Bellwether Advisors LLC’s holdings in Heico were worth $4,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HEI. Westside Investment Management Inc. raised its position in Heico by 100.0% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 43 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new position in shares of Heico during the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. purchased a new position in shares of Heico during the 3rd quarter valued at about $31,000. Andra AP fonden purchased a new stake in Heico in the second quarter worth approximately $66,000. Finally, Pittenger & Anderson Inc. grew its position in Heico by 159.2% during the third quarter. Pittenger & Anderson Inc. now owns 324 shares of the aerospace company’s stock valued at $105,000 after acquiring an additional 199 shares during the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Heico Price Performance

Shares of HEI stock opened at $327.00 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 2.83. Heico Corporation has a fifty-two week low of $229.07 and a fifty-two week high of $361.69. The firm has a market cap of $45.57 billion, a P/E ratio of 64.62, a P/E/G ratio of 3.53 and a beta of 1.01. The business’s 50 day moving average price is $337.10 and its 200-day moving average price is $323.16.

Heico (NYSE:HEI) last released its quarterly earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.93%. The business had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. On average, equities research analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HEI. Citigroup reaffirmed a “buy” rating and issued a $415.00 price objective (up from $367.00) on shares of Heico in a research note on Tuesday, January 13th. Weiss Ratings reissued a “buy (b-)” rating on shares of Heico in a research note on Monday, December 29th. Truist Financial upped their price target on shares of Heico from $366.00 to $391.00 and gave the company a “buy” rating in a research report on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft reiterated 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. Finally, UBS Group reissued a “neutral” rating and issued a $371.00 target price (up from $359.00) on shares of Heico in a research note on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and an average price target of $364.43.

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.