Everence Capital Management Inc. Invests $1.68 Million in HEICO Co. (NYSE:HEI)

Everence Capital Management Inc. bought a new stake in HEICO Co. (NYSE:HEI) in the 4th quarter, Holdings Channel reports. The firm bought 7,070 shares of the aerospace company’s stock, valued at approximately $1,681,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Andra AP fonden bought a new position in shares of HEICO in the 2nd quarter valued at about $45,000. Rakuten Securities Inc. bought a new position in HEICO during the third quarter worth about $81,000. Brooklyn Investment Group bought a new stake in HEICO in the third quarter valued at approximately $128,000. Global Trust Asset Management LLC acquired a new stake in shares of HEICO in the third quarter valued at approximately $144,000. Finally, Arcadia Investment Management Corp MI bought a new position in shares of HEICO during the 3rd quarter worth approximately $157,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Morgan Stanley increased their price target on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Truist Financial raised their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Bank of America raised their price objective on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, UBS Group assumed coverage on HEICO in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.20.

HEICO Stock Performance

NYSE:HEI opened at $237.98 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO Co. has a fifty-two week low of $169.70 and a fifty-two week high of $283.60. The company has a market cap of $33.04 billion, a price-to-earnings ratio of 69.79, a PEG ratio of 3.12 and a beta of 1.24. The stock has a fifty day moving average price of $257.09 and a 200-day moving average price of $248.71.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.02. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities analysts anticipate that HEICO Co. will post 3.64 EPS for the current fiscal year.

HEICO Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.11 per share. This represents a yield of 0.1%. The ex-dividend date is Friday, January 3rd. HEICO’s payout ratio is presently 6.01%.

Insider Buying and Selling at HEICO

In related news, Director Alan Schriesheim sold 332 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Victor H. Mendelson bought 726 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, with a total value of $190,894.44. Following the purchase, the insider now owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. This represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 2,175 shares of company stock valued at $571,895. 8.10% of the stock is currently owned by corporate insiders.

About HEICO

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.