Congress Asset Management Co. Has $15.54 Million Stake in HEICO Co. (NYSE:HEI)

Congress Asset Management Co. trimmed its holdings in HEICO Co. (NYSE:HEI) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 65,365 shares of the aerospace company’s stock after selling 883 shares during the period. Congress Asset Management Co.’s holdings in HEICO were worth $15,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HEI. Trust Point Inc. acquired a new stake in shares of HEICO in the third quarter valued at approximately $265,000. Stratos Wealth Partners LTD. raised its position in HEICO by 0.9% during the third quarter. Stratos Wealth Partners LTD. now owns 32,179 shares of the aerospace company’s stock valued at $8,414,000 after purchasing an additional 286 shares in the last quarter. Fortis Group Advisors LLC acquired a new position in HEICO during the third quarter valued at approximately $233,000. Hennion & Walsh Asset Management Inc. raised its position in HEICO by 26.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 3,089 shares of the aerospace company’s stock valued at $808,000 after purchasing an additional 645 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new position in HEICO during the third quarter valued at approximately $4,502,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Stock Down 1.9 %

Shares of NYSE:HEI opened at $220.45 on Monday. The company has a fifty day moving average of $237.82 and a 200-day moving average of $249.98. The company has a market capitalization of $30.60 billion, a PE ratio of 60.23, a price-to-earnings-growth ratio of 3.19 and a beta of 1.29. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11. HEICO Co. has a 52-week low of $182.47 and a 52-week high of $283.60.

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

HEICO Dividend Announcement

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

Wall Street Analysts Forecast Growth

HEI has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. KeyCorp initiated coverage on shares of HEICO in a research report on Thursday, January 16th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $270.20.

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.