Wellington Management Group LLP Sells 8,253 Shares of HEICO Co. (NYSE:HEI)

Posted by Defense World Staff on Sep 8th, 2023

Wellington Management Group LLP lowered its position in HEICO Co. (NYSE:HEI – Free Report) by 3.8% during the 1st quarter, Holdings Channel reports. The firm owned 206,954 shares of the aerospace company’s stock after selling 8,253 shares during the quarter. Wellington Management Group LLP’s holdings in HEICO were worth $35,397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HEI. Picton Mahoney Asset Management boosted its position in HEICO by 4.6% during the 1st quarter. Picton Mahoney Asset Management now owns 1,370 shares of the aerospace company’s stock valued at $234,000 after acquiring an additional 60 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in HEICO by 0.7% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 20,550 shares of the aerospace company’s stock valued at $3,157,000 after acquiring an additional 149 shares in the last quarter. Astoria Portfolio Advisors LLC. boosted its position in HEICO by 11.7% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 1,620 shares of the aerospace company’s stock valued at $273,000 after acquiring an additional 170 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of HEICO by 15.1% in the 1st quarter. Benjamin Edwards Inc. now owns 1,334 shares of the aerospace company’s stock worth $228,000 after purchasing an additional 175 shares in the last quarter. Finally, Assetmark Inc. boosted its position in shares of HEICO by 6.5% in the 4th quarter. Assetmark Inc. now owns 3,166 shares of the aerospace company’s stock worth $486,000 after purchasing an additional 193 shares in the last quarter. Institutional investors own 27.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HEI shares. Bank of America raised their price objective on HEICO from $190.00 to $220.00 in a research report on Tuesday, June 13th. Robert W. Baird raised their price objective on HEICO from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 30th. Morgan Stanley started coverage on HEICO in a research report on Friday, August 18th. They issued an “equal weight” rating and a $184.00 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $200.00 price objective on shares of HEICO in a research report on Wednesday, August 30th. Finally, StockNews.com initiated coverage on HEICO in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Four 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $197.40.

Check Out Our Latest Research Report on HEICO

HEICO Stock Performance

Shares of HEI stock opened at $166.84 on Friday. The firm has a market capitalization of $22.86 billion, a price-to-earnings ratio of 58.13, a price-to-earnings-growth ratio of 4.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.03 and a quick ratio of 1.38. The business has a fifty day moving average of $172.15 and a 200 day moving average of $169.98. HEICO Co. has a 1 year low of $138.82 and a 1 year high of $182.18.

HEICO (NYSE:HEI – Get Free Report) last released its quarterly earnings data on Tuesday, August 29th. The aerospace company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $722.90 million during the quarter, compared to analyst estimates of $701.55 million. HEICO had a return on equity of 14.30% and a net margin of 15.05%. The company’s revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. As a group, research analysts expect that HEICO Co. will post 2.9 earnings per share for the current year.

HEICO Dividend Announcement

The business also recently disclosed a semi-annual dividend, which was paid on Monday, July 17th. Shareholders of record on Monday, July 3rd were paid a dividend of $0.10 per share. The ex-dividend date was Friday, June 30th. This represents a dividend yield of 0.1%. HEICO’s payout ratio is currently 6.97%.

HEICO Profile

(Free Report)

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.