Heico Corporation $HEI Shares Sold by Venturi Wealth Management LLC

Venturi Wealth Management LLC lessened its position in shares of Heico Corporation (NYSE:HEI) by 96.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,134 shares of the aerospace company’s stock after selling 88,156 shares during the quarter. Venturi Wealth Management LLC’s holdings in Heico were worth $1,116,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Diamant Asset Management Inc. grew its position in Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares during the period. Munro Partners raised its position in Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after purchasing an additional 87,265 shares during the period. CI Investments Inc. lifted its stake in shares of Heico by 40.0% in the 4th quarter. CI Investments Inc. now owns 164,036 shares of the aerospace company’s stock valued at $53,080,000 after purchasing an additional 46,846 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of Heico by 263.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after purchasing an additional 43,821 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in shares of Heico by 12.1% during the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock worth $105,615,000 after purchasing an additional 35,288 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on HEI. Susquehanna boosted their price objective on shares of Heico from $321.00 to $365.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $410.00 target price (up from $375.00) on shares of Heico in a research note on Thursday, May 28th. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Wall Street Zen downgraded shares of Heico from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, UBS Group restated a “neutral” rating and issued a $390.00 price objective (up from $371.00) on shares of Heico in a report on Monday, June 1st. Three research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Heico presently has a consensus rating of “Moderate Buy” and an average price target of $374.56.

Insider Activity at Heico

In related news, CAO Bradley K. Rowen sold 1,326 shares of the stock in a transaction on Wednesday, June 10th. The stock was 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 is available at the SEC website. Insiders own 4.86% of the company’s stock.

Heico Stock Performance

Shares of Heico stock opened at $373.25 on Thursday. The business has a 50-day simple moving average of $348.05 and a 200-day simple moving average of $319.31. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.36 and a current ratio of 2.92. Heico Corporation has a one year low of $256.11 and a one year high of $376.86. The company has a market cap of $52.13 billion, a PE ratio of 66.65, a P/E/G ratio of 3.80 and a beta of 1.04.

Heico (NYSE:HEI) last issued its earnings results on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.33. Heico had a net margin of 16.08% and a return on equity of 17.52%. The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company earned $1.12 earnings per share. The firm’s revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts forecast that Heico Corporation will post 5.95 EPS for the current fiscal year.

Heico Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were given a dividend of $0.13 per share. This represents a dividend yield of 7.0%. The ex-dividend date of this dividend was Wednesday, July 1st. Heico’s payout ratio is 4.64%.

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.