Perigon Wealth Management LLC Invests $1.66 Million in Heico Corporation $HEI

Perigon Wealth Management LLC acquired a new stake in Heico Corporation (NYSE:HEI) in the 2nd quarter, HoldingsChannel reports. The fund acquired 4,665 shares of the aerospace company’s stock, valued at approximately $1,662,000.

A number of other institutional investors have also added to or reduced their stakes in the company. IFC & Insurance Marketing Inc. bought a new stake in Heico during the fourth quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in Heico by 1,000.0% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock valued at $28,000 after acquiring an additional 80 shares during the last quarter. Birchwood Financial Partners Inc. bought a new position in shares of Heico in the 4th quarter valued at about $32,000. Miller Capital Partners Inc. acquired a new position in shares of Heico during the 4th quarter worth about $70,000. Finally, BNP Paribas acquired a new position in shares of Heico during the 4th quarter worth about $79,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Heico

In other news, CAO Bradley K. Rowen sold 1,326 shares of the firm’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 transaction of $320,401.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.86% of the company’s stock.

Heico Stock Performance

Shares of HEI stock opened at $370.69 on Tuesday. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $376.86. The company has a market capitalization of $51.77 billion, a price-to-earnings ratio of 66.19, a PEG ratio of 3.88 and a beta of 1.04. The company has a 50-day simple moving average of $350.63 and a 200 day simple moving average of $320.08. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92.

Heico (NYSE:HEI) last announced its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.33. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.The firm’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. On average, sell-side analysts predict that Heico Corporation will post 5.95 earnings per share for the current year.

Heico Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date was Wednesday, July 1st. Heico’s dividend payout ratio is presently 4.64%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HEI. Susquehanna raised their target price on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Truist Financial raised Heico to a “strong-buy” rating in a research report on Friday, May 1st. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a research report on Saturday. Royal Bank Of Canada lifted their target price on Heico from $375.00 to $390.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Citigroup reissued a “buy” rating and set a $429.00 target price (up from $410.00) on shares of Heico in a report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Heico presently has an average rating of “Moderate Buy” and a consensus price target of $376.69.

About Heico

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.