Lombard Odier Asset Management USA Corp Reduces Stake in Heico Corporation $HEI

Lombard Odier Asset Management USA Corp cut its position in shares of Heico Corporation (NYSE:HEI) by 62.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,443 shares of the aerospace company’s stock after selling 5,738 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in Heico were worth $1,111,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of Heico by 45.7% in the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after buying an additional 241,559 shares in the last quarter. Munro Partners purchased a new stake in shares of Heico in the 2nd quarter worth about $59,720,000. Balyasny Asset Management L.P. grew its stake in Heico by 263.2% in the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock valued at $19,521,000 after acquiring an additional 43,821 shares during the last quarter. AMJ Financial Wealth Management acquired a new stake in Heico in the 2nd quarter valued at about $11,552,000. Finally, Erste Asset Management GmbH increased its holdings in Heico by 136.0% during the 3rd quarter. Erste Asset Management GmbH now owns 59,000 shares of the aerospace company’s stock valued at $18,752,000 after acquiring an additional 34,000 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Price Performance

Heico stock opened at $291.79 on Tuesday. The stock has a market capitalization of $40.66 billion, a P/E ratio of 57.67, a P/E/G ratio of 3.53 and a beta of 1.01. Heico Corporation has a 12-month low of $229.07 and a 12-month high of $361.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.06 and a quick ratio of 1.41. The firm’s 50-day moving average is $331.84 and its two-hundred day moving average is $322.55.

Heico (NYSE:HEI) last posted its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Heico had a net margin of 15.38% and a return on equity of 16.57%. The company’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 earnings per share. Equities analysts predict that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th were issued a $0.12 dividend. The ex-dividend date was Monday, January 5th. This represents a yield of 7.0%. Heico’s payout ratio is 4.74%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. BNP Paribas Exane raised shares of Heico from a “neutral” rating to an “outperform” rating in a report on Friday, February 27th. Truist Financial raised their price objective on shares of Heico from $366.00 to $391.00 and gave the stock a “buy” rating in a research note on Tuesday, December 23rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $375.00 price objective (up from $355.00) on shares of Heico in a research report on Monday, December 22nd. Stifel Nicolaus set a $370.00 target price on Heico and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a report on Monday, December 29th. Eleven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $364.43.

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.