Silvant Capital Management LLC Makes New Investment in Heico Corporation $HEI

Silvant Capital Management LLC bought a new position in shares of Heico Corporation (NYSE:HEI) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 26,347 shares of the aerospace company’s stock, valued at approximately $9,385,000.

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

Heico Trading Down 3.3%

NYSE HEI opened at $351.32 on Friday. Heico Corporation has a one year low of $256.11 and a one year 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 company has a market capitalization of $49.07 billion, a price-to-earnings ratio of 62.74, a price-to-earnings-growth ratio of 3.77 and a beta of 1.04. The company’s 50-day simple moving average is $352.56 and its two-hundred day simple moving average is $320.71.

Heico (NYSE:HEI) last announced its quarterly earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the prior year, the company earned $1.12 EPS. The company’s revenue was up 25.3% compared to the same quarter last year. Equities analysts forecast that Heico Corporation will post 5.95 EPS for the current fiscal year.

Heico Announces Dividend

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

Wall Street Analyst Weigh In

HEI has been the topic of a number of research reports. Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. UBS Group reiterated a “neutral” rating and issued a $390.00 price target (up from $371.00) on shares of Heico in a report on Monday, June 1st. Jefferies Financial Group restated a “buy” rating and set a $425.00 price objective on shares of Heico in a report on Thursday, August 13th. Susquehanna lifted their target price on Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Citigroup reiterated a “buy” rating and issued a $429.00 target price (up from $410.00) on shares of Heico in a report on Thursday, August 13th. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Heico has an average rating of “Moderate Buy” and a consensus price target of $379.56.

Insider Buying and Selling

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. 4.86% of the stock is owned by company insiders.

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.