Essex LLC Trims Stock Position in HEICO Co. (NYSE:HEI)

Essex LLC lowered its stake in shares of HEICO Co. (NYSE:HEI) by 8.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 980 shares of the aerospace company’s stock after selling 85 shares during the period. Essex LLC’s holdings in HEICO were worth $233,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HEI. Rakuten Securities Inc. purchased a new stake in HEICO in the 3rd quarter worth approximately $81,000. Berbice Capital Management LLC acquired a new stake in HEICO during the fourth quarter valued at $95,000. Brooklyn Investment Group acquired a new position in shares of HEICO in the third quarter worth about $128,000. Global Trust Asset Management LLC purchased a new stake in shares of HEICO during the 3rd quarter worth about $144,000. Finally, Householder Group Estate & Retirement Specialist LLC increased its stake in shares of HEICO by 476.3% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 657 shares of the aerospace company’s stock valued at $156,000 after purchasing an additional 543 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on HEI shares. UBS Group assumed coverage on HEICO in a report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. KeyCorp started coverage on HEICO in a report on Thursday, January 16th. They issued a “sector weight” rating on the stock. Morgan Stanley increased their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Truist Financial lifted their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note 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’s stock. According to data from MarketBeat, HEICO currently has an average rating of “Moderate Buy” and a consensus price target of $270.20.

HEICO Price Performance

HEI stock opened at $234.80 on Friday. The company has a market capitalization of $32.60 billion, a PE ratio of 64.15, a P/E/G ratio of 3.19 and a beta of 1.29. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The business’s fifty day moving average price is $241.83 and its 200 day moving average price is $250.13. HEICO Co. has a 12-month low of $182.47 and a 12-month high of $283.60.

HEICO (NYSE:HEI) last announced its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.02. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm earned $0.74 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, sell-side analysts anticipate that HEICO Co. will post 4.2 EPS for the current year.

HEICO Dividend Announcement

The business also recently announced a semi-annual dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 3rd were given a $0.11 dividend. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Friday, January 3rd. HEICO’s dividend payout ratio (DPR) is 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.