Sawgrass Asset Management LLC Reduces Stock Position in HEICO Co. (NYSE:HEI)

Sawgrass Asset Management LLC reduced its position in HEICO Co. (NYSE:HEI) by 31.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,972 shares of the aerospace company’s stock after selling 11,663 shares during the period. Sawgrass Asset Management LLC’s holdings in HEICO were worth $6,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of HEI. West Oak Capital LLC boosted its position in HEICO by 2,400.0% in the fourth quarter. West Oak Capital LLC now owns 2,750 shares of the aerospace company’s stock worth $654,000 after purchasing an additional 2,640 shares during the last quarter. Two Sigma Advisers LP lifted its stake in shares of HEICO by 3.7% in the 3rd quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock worth $94,885,000 after purchasing an additional 13,100 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of HEICO by 43.9% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 4,444 shares of the aerospace company’s stock worth $1,057,000 after buying an additional 1,355 shares during the last quarter. Atom Investors LP bought a new stake in HEICO during the third quarter valued at approximately $1,129,000. Finally, SpiderRock Advisors LLC increased its holdings in HEICO by 498.1% during the third quarter. SpiderRock Advisors LLC now owns 15,490 shares of the aerospace company’s stock valued at $4,050,000 after buying an additional 12,900 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HEI shares. KeyCorp started coverage on shares of HEICO in a research note on Thursday, January 16th. They set a “sector weight” rating on the stock. Truist Financial lifted their target price on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft reduced their price target on HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Morgan Stanley boosted their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $270.20.

HEICO Price Performance

HEICO stock opened at $227.28 on Thursday. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. HEICO Co. has a 52-week low of $182.47 and a 52-week high of $283.60. The firm’s fifty day moving average is $239.57 and its 200 day moving average is $250.14. The company has a market cap of $31.55 billion, a price-to-earnings ratio of 62.10, a PEG ratio of 3.19 and a beta of 1.29.

HEICO (NYSE:HEI) last released its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.02. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the company posted $0.74 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that HEICO Co. will post 4.2 EPS for the current fiscal year.

HEICO Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio is currently 6.01%.

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.