First Trust Advisors LP Has $13.75 Million Holdings in HEICO Co. (NYSE:HEI)

Posted by Defense World Staff on Mar 11th, 2023

First Trust Advisors LP lowered its stake in shares of HEICO Co. (NYSE:HEI – Get Rating) by 40.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 95,469 shares of the aerospace company’s stock after selling 65,590 shares during the period. First Trust Advisors LP owned approximately 0.07% of HEICO worth $13,746,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HEI. Acadian Asset Management LLC bought a new stake in HEICO during the first quarter worth $577,000. Bridgefront Capital LLC purchased a new stake in shares of HEICO in the first quarter valued at about $265,000. Bridgewater Associates LP bought a new position in shares of HEICO during the first quarter valued at about $1,119,000. Royal London Asset Management Ltd. boosted its holdings in HEICO by 4.9% during the first quarter. Royal London Asset Management Ltd. now owns 43,488 shares of the aerospace company’s stock worth $5,936,000 after purchasing an additional 2,044 shares during the last quarter. Finally, Lazard Asset Management LLC grew its position in HEICO by 3,192.9% in the 1st quarter. Lazard Asset Management LLC now owns 1,138,939 shares of the aerospace company’s stock worth $174,872,000 after purchasing an additional 1,104,351 shares in the last quarter. 27.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Thomas S. Irwin sold 3,608 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $121.56, for a total transaction of $438,588.48. Following the sale, the vice president now owns 40,863 shares of the company’s stock, valued at approximately $4,967,306.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Frank J. Schwitter sold 600 shares of the company’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $138.65, for a total value of $83,190.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas S. Irwin sold 3,608 shares of the firm’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $121.56, for a total value of $438,588.48. Following the transaction, the vice president now directly owns 40,863 shares in the company, valued at $4,967,306.28. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,633 shares of company stock worth $570,635 and sold 19,508 shares worth $3,067,278. 8.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of research analyst reports. Benchmark boosted their target price on HEICO from $160.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, December 21st. Jefferies Financial Group raised their target price on HEICO from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Monday, February 27th. StockNews.com downgraded shares of HEICO from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their price objective on shares of HEICO from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Friday, February 24th. Finally, Truist Financial boosted their target price on shares of HEICO from $169.00 to $190.00 in a research note on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, HEICO presently has an average rating of “Moderate Buy” and a consensus price target of $181.00.

HEICO Stock Performance

Shares of HEI stock opened at $167.78 on Friday. The firm’s 50 day moving average is $168.55 and its 200 day moving average is $159.46. The stock has a market capitalization of $22.93 billion, a P/E ratio of 64.78, a PEG ratio of 4.57 and a beta of 1.18. HEICO Co. has a 12 month low of $126.95 and a 12 month high of $177.55. The company has a current ratio of 2.91, a quick ratio of 1.37 and a debt-to-equity ratio of 0.28.

HEICO (NYSE:HEI – Get Rating) last posted its earnings results on Monday, February 27th. The aerospace company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. HEICO had a return on equity of 13.89% and a net margin of 15.30%. The firm had revenue of $620.92 million for the quarter, compared to the consensus estimate of $588.63 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. The business’s quarterly revenue was up 26.6% on a year-over-year basis. On average, sell-side analysts anticipate that HEICO Co. will post 2.99 earnings per share for the current year.

HEICO Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Monday, January 23rd. Stockholders of record on Thursday, January 5th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Wednesday, January 4th. This is a boost from HEICO’s previous semi-annual dividend of $0.09. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio is currently 7.72%.

HEICO Company Profile

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HEICO Corp. engages in the manufacturing of electronic equipment for the aviation, defense, space, medical, telecommunications, and electronics industries. It operates through the Flight Support Group and Electronic Technologies Group segments. The Flight Support Group segment designs, manufactures, repairs, overhauls, and distributes jet engine and aircraft component replacement parts.