PFG Advisors Sells 101 Shares of HEICO Co. (NYSE:HEI)

PFG Advisors trimmed its position in shares of HEICO Co. (NYSE:HEI) by 1.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,030 shares of the aerospace company’s stock after selling 101 shares during the period. PFG Advisors’ holdings in HEICO were worth $2,243,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Andra AP fonden acquired a new stake in HEICO in the 2nd quarter worth $45,000. Center for Financial Planning Inc. acquired a new stake in HEICO during the second quarter worth about $52,000. American National Bank acquired a new position in HEICO in the 2nd quarter valued at approximately $66,000. Strategic Financial Concepts LLC acquired a new position in HEICO in the 2nd quarter valued at approximately $67,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of HEICO during the 2nd quarter worth approximately $73,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Frank J. Schwitter bought 475 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric A. Mendelson sold 20,000 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the sale, the insider now owns 148,891 shares in the company, valued at $27,707,126.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,206 shares of company stock valued at $15,571,927. Company insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HEI. Benchmark reiterated a “buy” rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Truist Financial upped their target price on shares of HEICO from $248.00 to $264.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Bank of America raised their price target on shares of HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.67.

HEICO Stock Up 0.6 %

NYSE HEI opened at $255.93 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $259.04. The stock has a market capitalization of $35.45 billion, a P/E ratio of 80.48, a price-to-earnings-growth ratio of 3.54 and a beta of 1.22. The stock has a fifty day moving average of $238.29 and a 200-day moving average of $217.51.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 EPS. On average, equities research analysts forecast that HEICO Co. will post 3.63 EPS for the current year.

HEICO Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a $0.11 dividend. The ex-dividend date was Monday, July 1st. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. HEICO’s dividend payout ratio (DPR) is presently 6.92%.

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.