Avalon Capital Management Buys 1,773 Shares of HEICO Co. (NYSE:HEI)

Avalon Capital Management raised its stake in HEICO Co. (NYSE:HEI) by 103.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,490 shares of the aerospace company’s stock after purchasing an additional 1,773 shares during the quarter. Avalon Capital Management’s holdings in HEICO were worth $667,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Hennion & Walsh Asset Management Inc. bought a new position in shares of HEICO during the 1st quarter worth approximately $307,000. Gateway Investment Advisers LLC boosted its stake in shares of HEICO by 3.3% during the 1st quarter. Gateway Investment Advisers LLC now owns 53,781 shares of the aerospace company’s stock worth $10,272,000 after acquiring an additional 1,713 shares during the period. Meyer Handelman Co. bought a new position in shares of HEICO during the 1st quarter worth approximately $1,072,000. Nomura Holdings Inc. bought a new position in shares of HEICO during the 4th quarter worth approximately $897,000. Finally, Zeno Equity Partners LLP acquired a new stake in HEICO during the 4th quarter worth approximately $25,000. 27.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on HEI. Robert W. Baird lifted their price target on HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Benchmark lifted their price target on HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Bank of America lifted their price target on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada lifted their price target on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.00.

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the completion of the transaction, the insider now owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 8.10% of the stock is owned by insiders.

HEICO Price Performance

NYSE HEI traded down $3.17 during midday trading on Friday, hitting $223.61. The company had a trading volume of 737,516 shares, compared to its average volume of 423,729. The company has a market capitalization of $30.97 billion, a PE ratio of 70.32, a P/E/G ratio of 3.29 and a beta of 1.21. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. The firm has a 50-day moving average price of $217.40 and a 200-day moving average price of $196.88. HEICO Co. has a twelve month low of $155.42 and a twelve month high of $232.02.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The company had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. During the same quarter in the previous year, the firm earned $0.76 EPS. HEICO’s revenue was up 38.9% on a year-over-year basis. As a group, analysts anticipate that HEICO Co. will post 3.55 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.11 per share. The ex-dividend date is Monday, July 1st. This represents a dividend yield of 0.1%. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s payout ratio is 6.29%.

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.