Perigon Wealth Management LLC Purchases New Position in Heico Corporation $HEI

Perigon Wealth Management LLC purchased a new position in Heico Corporation (NYSE:HEI) in the third quarter, HoldingsChannel reports. The fund purchased 4,267 shares of the aerospace company’s stock, valued at approximately $1,377,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. grew its holdings in shares of Heico by 68.9% during the 2nd quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company’s stock worth $173,232,000 after acquiring an additional 215,530 shares during the period. Congress Asset Management Co. boosted its position in shares of Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after purchasing an additional 242,264 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. grew its stake in Heico by 3.8% in the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 201,173 shares of the aerospace company’s stock worth $65,985,000 after purchasing an additional 7,364 shares during the period. Munro Partners raised its holdings in Heico by 8.5% in the third quarter. Munro Partners now owns 197,633 shares of the aerospace company’s stock worth $63,800,000 after purchasing an additional 15,560 shares in the last quarter. Finally, Marsico Capital Management LLC lifted its position in Heico by 13.8% during the second quarter. Marsico Capital Management LLC now owns 99,287 shares of the aerospace company’s stock valued at $32,566,000 after buying an additional 12,021 shares during the period. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Heico Stock Down 0.4%

Shares of Heico stock opened at $327.99 on Wednesday. The company has a 50-day simple moving average of $316.84 and a two-hundred day simple moving average of $317.23. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $340.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.28 and a current ratio of 2.83. The stock has a market capitalization of $45.71 billion, a PE ratio of 66.80, a price-to-earnings-growth ratio of 3.68 and a beta of 1.04.

Heico (NYSE:HEI) last announced its quarterly earnings results on Thursday, December 18th. The aerospace company reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.11. Heico had a net margin of 15.39% and a return on equity of 16.80%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter last year, the firm earned $0.99 earnings per share. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts anticipate that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, January 5th. This represents a dividend yield of 8.0%. Heico’s dividend payout ratio (DPR) is presently 4.89%.

Insider Transactions at Heico

In other Heico news, Director Mark H. Hildebrandt bought 676 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was acquired at an average price of $243.93 per share, with a total value of $164,896.68. Following the transaction, the director owned 49,423 shares in the company, valued at $12,055,752.39. This represents a 1.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Adolfo Henriques bought 676 shares of the stock in a transaction on Friday, October 10th. The shares were bought at an average price of $243.93 per share, for a total transaction of $164,896.68. Following the purchase, the director directly owned 24,069 shares in the company, valued at approximately $5,871,151.17. This trade represents a 2.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 4,448 shares of company stock valued at $1,086,933. Insiders own 9.55% of the company’s stock.

Analysts Set New Price Targets

HEI has been the topic of a number of recent research reports. BNP Paribas set a $330.00 target price on shares of Heico in a research report on Tuesday, November 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $375.00 price objective (up previously from $350.00) on shares of Heico in a research note on Monday, December 22nd. Barclays raised their target price on shares of Heico from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 2nd. Truist Financial boosted their price target on Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research report on Tuesday, December 23rd. Finally, Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a research note on Saturday. Ten analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $357.07.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.