Portland Investment Counsel Inc. Makes New Investment in Heico Corporation $HEI

Portland Investment Counsel Inc. acquired a new position in Heico Corporation (NYSE:HEI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,792 shares of the aerospace company’s stock, valued at approximately $994,000.

A number of other large investors have also recently made changes to their positions in HEI. Diamant Asset Management Inc. grew its stake in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Weitz Investment Management Inc. bought a new stake in Heico during the 2nd quarter worth approximately $52,737,000. Bank of New York Mellon Corp purchased a new position in Heico during the second quarter valued at approximately $54,386,000. Munro Partners lifted its holdings in Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after purchasing an additional 87,265 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of Heico by 40.0% in the fourth quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock worth $53,080,000 after purchasing an additional 46,846 shares during the period. 27.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total transaction of $320,401.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.86% of the stock is owned by company insiders.

Heico Stock Performance

Shares of NYSE HEI opened at $355.49 on Monday. The company has a market cap of $49.65 billion, a P/E ratio of 63.48, a P/E/G ratio of 3.58 and a beta of 1.04. Heico Corporation has a 52-week low of $256.11 and a 52-week high of $376.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The firm’s fifty day moving average is $353.04 and its two-hundred day moving average is $320.88.

Heico (NYSE:HEI) last released its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.33 by $0.33. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. Heico had a net margin of 16.08% and a return on equity of 17.52%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS. As a group, analysts anticipate that Heico Corporation will post 6.02 EPS for the current fiscal year.

Heico Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HEI. Citigroup reissued a “buy” rating and issued a $429.00 price objective (up from $410.00) on shares of Heico in a research note on Thursday, August 13th. Jefferies Financial Group restated a “buy” rating and set a $425.00 target price on shares of Heico in a research note on Thursday, August 13th. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Susquehanna increased their price target on Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Finally, Royal Bank Of Canada raised their price target on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Three research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Heico presently has a consensus rating of “Moderate Buy” and a consensus price target of $379.56.

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.