Heico Corporation $HEI is Riverbridge Partners LLC’s 9th Largest Position

Riverbridge Partners LLC decreased its stake in Heico Corporation (NYSE:HEI) by 31.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 406,226 shares of the aerospace company’s stock after selling 183,299 shares during the period. Heico makes up 2.7% of Riverbridge Partners LLC’s investment portfolio, making the stock its 9th largest holding. Riverbridge Partners LLC’s holdings in Heico were worth $111,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Verde Capital Management purchased a new position in Heico in the first quarter valued at about $1,204,000. CPC Advisors LLC boosted its stake in shares of Heico by 208.4% during the 1st quarter. CPC Advisors LLC now owns 9,187 shares of the aerospace company’s stock worth $2,519,000 after acquiring an additional 6,208 shares in the last quarter. World Investment Advisors grew its holdings in shares of Heico by 10.2% in the 4th quarter. World Investment Advisors now owns 1,760 shares of the aerospace company’s stock worth $570,000 after acquiring an additional 163 shares during the period. Bayban purchased a new position in Heico in the 4th quarter valued at approximately $89,000. Finally, Alpine Global Management LLC purchased a new position in Heico in the 4th quarter valued at approximately $374,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Heico Price Performance

HEI stock opened at $334.07 on Wednesday. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $361.69. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. The stock’s 50 day moving average price is $305.20 and its 200 day moving average price is $313.81. The firm has a market cap of $46.66 billion, a P/E ratio of 59.66, a PEG ratio of 3.53 and a beta of 1.03.

Heico (NYSE:HEI) last announced its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.33. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. Heico had a return on equity of 17.52% and a net margin of 16.08%.Heico’s quarterly revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.12 EPS. On average, sell-side analysts expect that Heico Corporation will post 5.78 earnings per share for the current fiscal year.

Heico Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Wednesday, July 15th. Investors of record on Wednesday, July 1st will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Wednesday, July 1st. This represents a dividend yield of 8.0%. Heico’s dividend payout ratio (DPR) is presently 4.29%.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of research analyst reports. Rothschild & Co Redburn set a $360.00 target price on Heico and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada raised their price target on Heico from $375.00 to $390.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Zacks Research raised Heico from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. UBS Group reiterated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a research report on Monday, June 1st. Finally, Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $371.62.

Insiders Place Their Bets

In other Heico news, CAO Bradley K. Rowen sold 1,326 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $241.63, for a total value of $320,401.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie Neitzel sold 676 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The disclosure for this sale is available in the SEC filing. 4.86% of the stock is owned by company insiders.

Heico Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.