O Shaughnessy Asset Management LLC Sells 857 Shares of Heico Corp (NYSE:HEI)

O Shaughnessy Asset Management LLC trimmed its holdings in shares of Heico Corp (NYSE:HEI) by 29.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,026 shares of the aerospace company’s stock after selling 857 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Heico were worth $192,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Two Sigma Investments LP increased its holdings in Heico by 140.6% in the fourth quarter. Two Sigma Investments LP now owns 245,747 shares of the aerospace company’s stock valued at $19,040,000 after buying an additional 143,602 shares during the last quarter. Telemark Asset Management LLC increased its holdings in Heico by 40.0% in the fourth quarter. Telemark Asset Management LLC now owns 175,000 shares of the aerospace company’s stock valued at $11,749,000 after buying an additional 50,000 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Heico by 0.4% during the fourth quarter. Thrivent Financial for Lutherans now owns 173,597 shares of the aerospace company’s stock valued at $13,450,000 after purchasing an additional 607 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Heico by 126.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 97,958 shares of the aerospace company’s stock valued at $9,293,000 after purchasing an additional 54,696 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Heico by 734.0% during the fourth quarter. Two Sigma Advisers LP now owns 86,909 shares of the aerospace company’s stock valued at $6,734,000 after purchasing an additional 76,488 shares during the last quarter. 24.90% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on HEI shares. UBS Group upped their target price on Heico from $85.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Cowen reaffirmed a “hold” rating and issued a $95.00 price target on shares of Heico in a report on Wednesday, May 29th. Credit Suisse Group upped their price target on Heico from $127.00 to $133.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a report on Friday, May 24th. Finally, Canaccord Genuity upped their price target on Heico from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $114.44.

In other news, CEO Laurans A. Mendelson sold 100,000 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $98.17, for a total transaction of $9,817,000.00. Following the sale, the chief executive officer now directly owns 927,445 shares of the company’s stock, valued at $91,047,275.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark H. Hildebrandt purchased 963 shares of the firm’s stock in a transaction dated Monday, June 10th. The shares were bought at an average cost of $103.34 per share, for a total transaction of $99,516.42. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 175,473 shares of company stock valued at $17,384,987. Company insiders own 9.23% of the company’s stock.

NYSE:HEI traded down $1.06 during trading hours on Monday, reaching $132.75. The company’s stock had a trading volume of 629,004 shares, compared to its average volume of 421,320. The company has a market cap of $17.77 billion, a P/E ratio of 73.34, a price-to-earnings-growth ratio of 4.47 and a beta of 0.71. Heico Corp has a one year low of $71.47 and a one year high of $134.79. The business has a 50-day moving average of $119.69. The company has a current ratio of 3.20, a quick ratio of 1.56 and a debt-to-equity ratio of 0.33.

Heico (NYSE:HEI) last released its earnings results on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.11. Heico had a net margin of 15.36% and a return on equity of 18.31%. The business had revenue of $515.60 million during the quarter, compared to analysts’ expectations of $480.17 million. During the same quarter last year, the company earned $0.55 earnings per share. The firm’s revenue was up 19.7% on a year-over-year basis. Sell-side analysts forecast that Heico Corp will post 2.22 EPS for the current fiscal year.

The company also recently disclosed a dividend, which will be paid on Monday, July 15th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, June 28th. Heico’s payout ratio is 7.73%.

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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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Institutional Ownership by Quarter for Heico (NYSE:HEI)

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