Wealthfront Advisers LLC Acquires 22,224,106 Shares of HEICO Co. (NYSE:HEI)

Wealthfront Advisers LLC raised its holdings in shares of HEICO Co. (NYSE:HEI) by 219,129.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,234,248 shares of the aerospace company’s stock after purchasing an additional 22,224,106 shares during the period. HEICO accounts for approximately 4.3% of Wealthfront Advisers LLC’s holdings, making the stock its 5th biggest holding. Wealthfront Advisers LLC owned about 16.02% of HEICO worth $5,285,970,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in HEI. Compass Financial Services Inc acquired a new stake in shares of HEICO in the 4th quarter valued at approximately $26,000. Rakuten Securities Inc. acquired a new stake in shares of HEICO in the 3rd quarter valued at approximately $81,000. Berbice Capital Management LLC acquired a new stake in shares of HEICO in the 4th quarter valued at approximately $95,000. Brooklyn Investment Group acquired a new stake in shares of HEICO in the 3rd quarter valued at approximately $128,000. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of HEICO in the 4th quarter valued at approximately $135,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Price Performance

Shares of HEI opened at $256.76 on Tuesday. The stock has a market capitalization of $35.68 billion, a P/E ratio of 70.15, a P/E/G ratio of 3.10 and a beta of 1.26. HEICO Co. has a twelve month low of $182.47 and a twelve month high of $283.60. The company has a 50 day moving average of $236.75 and a 200-day moving average of $250.86. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Wednesday, February 26th. The aerospace company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.27. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $983.10 million. HEICO had a net margin of 13.33% and a return on equity of 14.63%. As a group, equities research analysts forecast that HEICO Co. will post 4.2 EPS for the current fiscal year.

HEICO Dividend Announcement

The firm also recently declared a semi-annual dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.11 per share. The ex-dividend date was Friday, January 3rd. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio is currently 5.45%.

Wall Street Analyst Weigh In

HEI has been the topic of a number of analyst reports. Truist Financial increased their price target on shares of HEICO from $282.00 to $294.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut their price target 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. Finally, KeyCorp began coverage on shares of HEICO in a report on Thursday, January 16th. They set a “sector weight” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $271.40.

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.