HEICO Co. (NYSE:HEI) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC lessened its stake in shares of HEICO Co. (NYSE:HEI) by 6.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,081 shares of the aerospace company’s stock after selling 1,196 shares during the quarter. ARK Investment Management LLC’s holdings in HEICO were worth $3,596,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Semanteon Capital Management LP purchased a new position in HEICO in the fourth quarter valued at about $304,000. Bahl & Gaynor Inc. boosted its holdings in shares of HEICO by 33.3% during the fourth quarter. Bahl & Gaynor Inc. now owns 3,823 shares of the aerospace company’s stock worth $684,000 after purchasing an additional 955 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of HEICO by 127.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,551 shares of the aerospace company’s stock worth $814,000 after buying an additional 2,552 shares during the last quarter. Private Advisor Group LLC grew its position in HEICO by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 12,456 shares of the aerospace company’s stock worth $2,228,000 after buying an additional 81 shares in the last quarter. Finally, Sawgrass Asset Management LLC raised its stake in HEICO by 36.2% during the fourth quarter. Sawgrass Asset Management LLC now owns 42,144 shares of the aerospace company’s stock worth $7,538,000 after acquiring an additional 11,207 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of research analyst reports. Robert W. Baird raised their price target on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Truist Financial upped their price objective on shares of HEICO from $240.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Bank of America boosted their price objective on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Benchmark reissued a “buy” rating and set a $245.00 price objective on shares of HEICO in a research note on Tuesday. Finally, Royal Bank of Canada increased their price objective on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $241.78.

HEICO Price Performance

HEI stock traded up $2.63 during mid-day trading on Tuesday, hitting $248.53. The stock had a trading volume of 676,232 shares, compared to its average volume of 380,350. The firm has a fifty day simple moving average of $231.41 and a 200 day simple moving average of $212.39. The firm has a market capitalization of $34.42 billion, a P/E ratio of 77.29, a P/E/G ratio of 3.53 and a beta of 1.20. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $258.84.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. HEICO’s revenue was up 37.3% on a year-over-year basis. During the same period last year, the business posted $0.77 earnings per share. As a group, research analysts forecast that HEICO Co. will post 3.57 EPS for the current year.

HEICO Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.11 dividend. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 1st. HEICO’s payout ratio is currently 6.92%.

Insider Transactions at HEICO

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now directly owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now directly owns 246,060 shares in the company, valued at approximately $44,305,563.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Eric A. Mendelson sold 20,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the transaction, the insider now owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is currently owned by company insiders.

HEICO Company 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.