HEICO Co. (NYSE:HEI) is Riverbridge Partners LLC’s 5th Largest Position

Riverbridge Partners LLC lessened its stake in HEICO Co. (NYSE:HEI) by 4.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 866,925 shares of the aerospace company’s stock after selling 45,005 shares during the period. HEICO comprises approximately 2.8% of Riverbridge Partners LLC’s investment portfolio, making the stock its 5th largest holding. Riverbridge Partners LLC owned 0.62% of HEICO worth $206,103,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Driehaus Capital Management LLC raised its holdings in HEICO by 66.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares during the period. EULAV Asset Management raised its stake in shares of HEICO by 5.0% during the 3rd quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after buying an additional 19,200 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of HEICO during the 3rd quarter valued at approximately $4,502,000. Quantbot Technologies LP lifted its position in shares of HEICO by 424.1% during the 3rd quarter. Quantbot Technologies LP now owns 18,801 shares of the aerospace company’s stock valued at $4,916,000 after buying an additional 15,214 shares in the last quarter. Finally, Integrated Investment Consultants LLC grew its stake in HEICO by 734.2% in the 3rd quarter. Integrated Investment Consultants LLC now owns 16,942 shares of the aerospace company’s stock valued at $4,430,000 after acquiring an additional 14,911 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analyst Ratings Changes

HEI has been the topic of several recent analyst reports. Truist Financial increased their price objective on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group began coverage on shares of HEICO in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. KeyCorp assumed coverage on HEICO in a research note on Thursday, January 16th. They issued a “sector weight” rating on the stock. Finally, Morgan Stanley raised their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $270.20.

HEICO Price Performance

Shares of HEI stock opened at $241.38 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. The company has a market capitalization of $33.51 billion, a PE ratio of 65.95, a price-to-earnings-growth ratio of 3.29 and a beta of 1.28. The firm’s 50-day moving average is $251.00 and its two-hundred day moving average is $249.31. HEICO Co. has a 12 month low of $178.20 and a 12 month high of $283.60.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, December 17th. The aerospace company reported $0.99 EPS for the quarter, beating the consensus estimate of $0.97 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.03 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. Analysts predict that HEICO Co. will post 4.21 earnings per share for the current year.

HEICO Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a dividend of $0.11 per share. This represents a dividend yield of 0.1%. The ex-dividend date was Friday, January 3rd. HEICO’s dividend payout ratio is presently 6.01%.

HEICO Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.