Jennison Associates LLC Trims Stock Holdings in HEICO Co. (NYSE:HEI)

Jennison Associates LLC lowered its position in shares of HEICO Co. (NYSE:HEI) by 19.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 202,195 shares of the aerospace company’s stock after selling 49,953 shares during the quarter. Jennison Associates LLC’s holdings in HEICO were worth $48,070,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HEI. Rakuten Securities Inc. purchased a new position in HEICO during the 3rd quarter valued at about $81,000. Berbice Capital Management LLC bought a new position in shares of HEICO during the fourth quarter valued at approximately $95,000. Brooklyn Investment Group purchased a new position in shares of HEICO during the third quarter valued at approximately $128,000. Global Trust Asset Management LLC bought a new stake in shares of HEICO in the 3rd quarter worth approximately $144,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its stake in shares of HEICO by 476.3% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 657 shares of the aerospace company’s stock worth $156,000 after buying an additional 543 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on HEI shares. Truist Financial boosted their target price on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, October 18th. KeyCorp initiated coverage on shares of HEICO in a research note on Thursday, January 16th. They issued a “sector weight” rating on the stock. UBS Group started coverage on shares of HEICO in a research note on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price objective for the company. Morgan Stanley upped their target price on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.20.

HEICO Stock Down 2.4 %

HEI opened at $234.55 on Wednesday. HEICO Co. has a twelve month low of $182.00 and a twelve month high of $283.60. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average price of $244.09 and a 200-day moving average price of $250.16. The stock has a market capitalization of $32.56 billion, a price-to-earnings ratio of 64.08, a PEG ratio of 3.28 and a beta of 1.29.

HEICO (NYSE:HEI) last announced its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the business earned $0.74 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Equities research analysts forecast that HEICO Co. will post 4.2 earnings per share for the current year.

HEICO Announces Dividend

The company also recently announced a semi-annual dividend, which was paid on Friday, January 17th. Shareholders of record on Friday, January 3rd were given a $0.11 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a yield of 0.1%. HEICO’s payout ratio is 6.01%.

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.