Sanibel Captiva Trust Company Inc. Makes New $206,000 Investment in HEICO Co. (NYSE:HEI)

Sanibel Captiva Trust Company Inc. bought a new stake in shares of HEICO Co. (NYSE:HEI) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 923 shares of the aerospace company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Center for Financial Planning Inc. acquired a new stake in HEICO in the 2nd quarter valued at approximately $52,000. Psagot Value Holdings Ltd. Israel bought a new stake in shares of HEICO in the 4th quarter worth approximately $70,000. FSC Wealth Advisors LLC acquired a new stake in HEICO during the second quarter valued at approximately $73,000. Founders Capital Management bought a new stake in HEICO during the second quarter worth approximately $138,000. Finally, Beaumont Financial Advisors LLC acquired a new position in HEICO in the fourth quarter worth approximately $200,000. Institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HEI. Deutsche Bank Aktiengesellschaft raised their price objective on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Stifel Nicolaus lifted their target price on shares of HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Barclays started coverage on shares of HEICO in a research note on Monday. They issued an “equal weight” rating and a $250.00 price target on the stock. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Finally, Bank of America raised their price target on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $241.78.

HEICO Stock Performance

HEICO stock traded up $2.04 during mid-day trading on Wednesday, reaching $242.16. The company had a trading volume of 74,211 shares, compared to its average volume of 376,347. The company has a 50 day moving average of $229.86 and a 200-day moving average of $210.73. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $258.84. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. The firm has a market cap of $33.54 billion, a price-to-earnings ratio of 75.47, a PEG ratio of 3.53 and a beta of 1.20.

HEICO (NYSE:HEI) last released its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The company had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same period last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, sell-side analysts expect that HEICO Co. will post 3.57 EPS for the current fiscal year.

HEICO Increases Dividend

The firm also recently announced 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 represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, July 1st. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio is presently 6.92%.

Insider Activity at HEICO

In other HEICO news, insider Eric A. Mendelson sold 20,000 shares of the stock in a transaction dated 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 sale, the insider now owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the completion of the sale, the insider now directly owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 20,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the transaction, the insider now directly owns 148,891 shares in the company, valued at approximately $27,707,126.19. The disclosure for this sale can be found here. Insiders sold 85,206 shares of company stock valued at $15,571,927 over the last ninety days. 8.10% of the stock is owned by insiders.

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.