Heico Corporation $HEI Position Decreased by Jennison Associates LLC

Jennison Associates LLC trimmed its holdings in shares of Heico Corporation (NYSE:HEI) by 24.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,149 shares of the aerospace company’s stock after selling 21,498 shares during the quarter. Jennison Associates LLC’s holdings in Heico were worth $18,412,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HEI. Fortress Financial Solutions LLC boosted its position in Heico by 2.8% during the 1st quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company’s stock valued at $493,000 after acquiring an additional 49 shares in the last quarter. ABC Arbitrage SA purchased a new stake in shares of Heico during the 1st quarter worth $1,995,000. Emerald Advisers LLC lifted its stake in shares of Heico by 11.3% during the 1st quarter. Emerald Advisers LLC now owns 2,787 shares of the aerospace company’s stock worth $764,000 after purchasing an additional 282 shares during the last quarter. Pittenger & Anderson Inc. boosted its position in Heico by 20.2% during the first quarter. Pittenger & Anderson Inc. now owns 553 shares of the aerospace company’s stock valued at $152,000 after purchasing an additional 93 shares in the last quarter. Finally, Carnegie Investment Counsel boosted its position in Heico by 4.6% during the first quarter. Carnegie Investment Counsel now owns 15,571 shares of the aerospace company’s stock valued at $4,270,000 after purchasing an additional 680 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HEI. Jefferies Financial Group reiterated a “buy” rating and issued a $410.00 target price (up from $375.00) on shares of Heico in a report on Thursday, May 28th. Citigroup restated a “buy” rating and issued a $410.00 price target (up from $403.00) on shares of Heico in a report on Wednesday, July 1st. Wells Fargo & Company set a $350.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Royal Bank Of Canada increased their target price on shares of Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Finally, Morgan Stanley set a $370.00 target price on shares of Heico in a research note on Wednesday, July 15th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Heico currently has an average rating of “Moderate Buy” and an average target price of $374.56.

Insiders Place Their Bets

In other news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction dated Wednesday, June 10th. The stock was 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. Insiders own 4.86% of the company’s stock.

Heico Trading Up 0.2%

NYSE HEI opened at $340.98 on Wednesday. The company has a fifty day simple moving average of $332.65 and a two-hundred day simple moving average of $317.94. The stock has a market cap of $47.62 billion, a P/E ratio of 60.89, a P/E/G ratio of 3.53 and a beta of 1.03. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $369.48. The company has a current ratio of 2.92, a quick ratio of 1.36 and a debt-to-equity ratio of 0.53.

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

Heico Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Wednesday, July 1st. This represents a yield of 7.0%. Heico’s payout ratio is currently 4.64%.

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.