HEICO Co. (NYSE:HEI) Stake Increased by Marsico Capital Management LLC

Marsico Capital Management LLC raised its stake in shares of HEICO Co. (NYSE:HEIFree Report) by 19.3% during the second quarter, HoldingsChannel reports. The fund owned 114,236 shares of the aerospace company’s stock after acquiring an additional 18,465 shares during the quarter. HEICO comprises approximately 0.8% of Marsico Capital Management LLC’s holdings, making the stock its 24th largest position. Marsico Capital Management LLC’s holdings in HEICO were worth $25,544,000 at the end of the most recent quarter.

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

HEICO Stock Performance

Shares of HEI stock opened at $261.79 on Wednesday. The business has a 50 day simple moving average of $239.62 and a 200 day simple moving average of $218.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The firm has a market capitalization of $36.26 billion, a price-to-earnings ratio of 82.32, a price-to-earnings-growth ratio of 3.61 and a beta of 1.22. HEICO Co. has a 12-month low of $155.42 and a 12-month high of $264.22.

HEICO (NYSE:HEIGet Free Report) last issued its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the company earned $0.77 earnings per share. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. On average, equities research analysts anticipate that HEICO Co. will post 3.63 EPS for the current year.

HEICO Increases Dividend

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

Insiders Place Their Bets

In related news, Director Frank J. Schwitter acquired 475 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now directly owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Eric A. Mendelson sold 20,000 shares of HEICO stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the transaction, the insider now directly owns 148,891 shares of the company’s stock, valued at $27,707,126.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the acquisition, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The disclosure for this purchase can be found here. In the last three months, insiders have sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HEI has been the topic of several research analyst reports. Bank of America raised their price objective on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Truist Financial raised 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. Benchmark reaffirmed a “buy” rating and set a $245.00 price objective on shares of HEICO in a research report on Tuesday, August 27th. Barclays initiated coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price for the company. Finally, Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.67.

Check Out Our Latest Report on HEICO

HEICO Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding HEI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HEICO Co. (NYSE:HEIFree Report).

Institutional Ownership by Quarter for HEICO (NYSE:HEI)

Receive News & Ratings for HEICO Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HEICO and related companies with MarketBeat.com's FREE daily email newsletter.