Maridea Wealth Management LLC Invests $1.13 Million in Heico Corporation $HEI

Maridea Wealth Management LLC purchased a new stake in Heico Corporation (NYSE:HEI) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,167 shares of the aerospace company’s stock, valued at approximately $1,128,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Barrett & Company Inc. lifted its position in Heico by 75.0% during the second quarter. Barrett & Company Inc. now owns 2,812 shares of the aerospace company’s stock worth $1,002,000 after buying an additional 1,205 shares in the last quarter. CPC Advisors LLC grew its holdings in Heico by 1.9% in the 2nd quarter. CPC Advisors LLC now owns 9,366 shares of the aerospace company’s stock valued at $3,336,000 after buying an additional 179 shares in the last quarter. Avidian Wealth Enterprises LLC acquired a new stake in shares of Heico in the 2nd quarter worth $282,000. BankChampaign National Association increased its stake in shares of Heico by 6.3% in the 2nd quarter. BankChampaign National Association now owns 2,834 shares of the aerospace company’s stock worth $1,009,000 after acquiring an additional 169 shares during the last quarter. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new position in shares of Heico during the 2nd quarter worth $1,262,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Stock Up 0.9%

Shares of NYSE:HEI opened at $375.03 on Friday. The business has a 50-day moving average price of $349.68 and a 200 day moving average price of $319.97. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $52.38 billion, a price-to-earnings ratio of 66.97, a PEG ratio of 3.88 and a beta of 1.04. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.33. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. Heico’s revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. Sell-side analysts expect that Heico Corporation will post 5.95 EPS for the current year.

Heico Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were paid a $0.13 dividend. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is 4.64%.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 4.86% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HEI. Jefferies Financial Group reissued a “buy” rating and set a $425.00 price target on shares of Heico in a research report on Thursday. Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Truist Financial raised shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. UBS Group reiterated a “neutral” rating and issued a $390.00 target price (up from $371.00) on shares of Heico in a report on Monday, June 1st. Finally, Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and an average price target of $376.69.

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.