Cross Staff Investments Inc Acquires New Stake in HEICO Co. (NYSE:HEI)

Cross Staff Investments Inc acquired a new stake in shares of HEICO Co. (NYSE:HEI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,000 shares of the aerospace company’s stock, valued at approximately $224,000.

Other hedge funds have also made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in shares of HEICO during the fourth quarter valued at approximately $897,000. Meyer Handelman Co. acquired a new position in shares of HEICO during the first quarter valued at approximately $1,072,000. Quadrature Capital Ltd acquired a new position in HEICO in the first quarter worth approximately $2,796,000. AGF Management Ltd. acquired a new position in HEICO in the fourth quarter worth approximately $2,899,000. Finally, Mediolanum International Funds Ltd acquired a new position in HEICO in the first quarter worth approximately $1,442,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Transactions at HEICO

In related news, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 53,510 shares of HEICO stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total transaction of $9,739,890.20. Following the transaction, the insider now directly owns 168,891 shares of the company’s stock, valued at $30,741,539.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on HEI. Truist Financial lifted their price target on shares of HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Robert W. Baird lifted their price target on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays began coverage on shares of HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.67.

HEICO Stock Down 1.0 %

HEI stock opened at $249.43 on Friday. The company has a current ratio of 3.30, a quick ratio of 1.57 and a debt-to-equity ratio of 0.63. HEICO Co. has a 1 year low of $155.42 and a 1 year high of $259.04. The company has a fifty day simple moving average of $235.90 and a 200 day simple moving average of $216.05. The firm has a market cap of $34.55 billion, a PE ratio of 78.44, a PEG ratio of 3.72 and a beta of 1.22.

HEICO (NYSE:HEI) last announced its earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Sell-side analysts anticipate that HEICO Co. will post 3.62 EPS for the current fiscal year.

HEICO Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a dividend of $0.11 per share. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. The ex-dividend date of this dividend was Monday, July 1st. This represents a dividend yield of 0.1%. HEICO’s payout ratio is presently 6.92%.

About HEICO

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.