HEICO Co. (NYSE:HEI) Shares Sold by Mezzasalma Advisors LLC

Mezzasalma Advisors LLC lessened its holdings in shares of HEICO Co. (NYSE:HEI) by 25.4% during the first quarter, HoldingsChannel reports. The firm owned 5,166 shares of the aerospace company’s stock after selling 1,759 shares during the quarter. Mezzasalma Advisors LLC’s holdings in HEICO were worth $987,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in HEI. Gotham Asset Management LLC lifted its position in HEICO by 9.3% during the third quarter. Gotham Asset Management LLC now owns 4,098 shares of the aerospace company’s stock worth $664,000 after buying an additional 349 shares during the period. EULAV Asset Management increased its stake in shares of HEICO by 50.9% during the 3rd quarter. EULAV Asset Management now owns 233,593 shares of the aerospace company’s stock valued at $37,826,000 after acquiring an additional 78,779 shares during the last quarter. KPP Advisory Services LLC acquired a new position in shares of HEICO during the 3rd quarter valued at about $288,000. Kingdon Capital Management L.L.C. lifted its holdings in shares of HEICO by 12.5% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 90,000 shares of the aerospace company’s stock worth $14,574,000 after acquiring an additional 10,000 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of HEICO in the third quarter worth approximately $705,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Stock Up 1.7 %

HEICO stock traded up $3.90 during midday trading on Thursday, hitting $228.03. 304,558 shares of the company were exchanged, compared to its average volume of 373,319. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.52 and a quick ratio of 1.57. HEICO Co. has a fifty-two week low of $155.42 and a fifty-two week high of $232.02. The company’s fifty day moving average price is $219.10 and its 200-day moving average price is $197.94. The company has a market cap of $31.58 billion, a PE ratio of 71.71, a price-to-earnings-growth ratio of 3.30 and a beta of 1.20.

HEICO (NYSE:HEI) last announced its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The business had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, research analysts predict that HEICO Co. will post 3.56 EPS for the current fiscal year.

HEICO Increases Dividend

The firm also recently announced a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be given a dividend of $0.11 per share. This represents a dividend yield of 0.1%. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. The ex-dividend date is Monday, July 1st. HEICO’s payout ratio is presently 6.92%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HEI shares. Benchmark upped their price target on shares of HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft upped their price objective on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Stifel Nicolaus boosted their price target on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Robert W. Baird raised their price objective on HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

Insider Activity at HEICO

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now directly owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.10% of the stock is currently owned by company insiders.

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.