Gateway Investment Advisers LLC Buys 1,713 Shares of HEICO Co. (NYSE:HEI)

Gateway Investment Advisers LLC increased its stake in HEICO Co. (NYSE:HEI) by 3.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,781 shares of the aerospace company’s stock after acquiring an additional 1,713 shares during the period. Gateway Investment Advisers LLC’s holdings in HEICO were worth $10,272,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of HEI. Capital World Investors lifted its stake in shares of HEICO by 10.5% in the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after acquiring an additional 311,304 shares during the last quarter. EULAV Asset Management raised its position in HEICO by 50.9% during the 3rd quarter. EULAV Asset Management now owns 233,593 shares of the aerospace company’s stock valued at $37,826,000 after purchasing an additional 78,779 shares during the last quarter. Zeno Equity Partners LLP bought a new position in HEICO during the 4th quarter valued at approximately $11,365,000. Azimuth Capital Investment Management LLC raised its position in HEICO by 118.3% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 93,108 shares of the aerospace company’s stock valued at $16,654,000 after purchasing an additional 50,448 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in HEICO by 8.3% during the 4th quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock valued at $101,438,000 after purchasing an additional 43,509 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HEI has been the subject of a number of recent analyst reports. Benchmark upped their price target on HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Robert W. Baird upped their price target on HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Stifel Nicolaus upped their price target on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada upped their price target on HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Finally, Bank of America upped their target price on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $236.00.

Insider Buying and Selling

In related news, Director Frank J. Schwitter sold 400 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $193.70, for a total value of $77,480.00. Following the sale, the director now owns 1,255 shares in the company, valued at approximately $243,093.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.10% of the stock is currently owned by company insiders.

HEICO Stock Performance

HEICO stock opened at $228.98 on Wednesday. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $31.71 billion, a P/E ratio of 72.01, a PEG ratio of 3.38 and a beta of 1.21. The stock’s 50 day moving average is $215.72 and its 200 day moving average is $196.09. 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 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.08. The company had revenue of $955.40 million for the quarter, compared to the consensus estimate of $951.24 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The firm’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 EPS. On average, equities research analysts predict that HEICO Co. will post 3.55 earnings per share for the current fiscal year.

HEICO Increases Dividend

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