Bahl & Gaynor Inc. Cuts Stake in HEICO Co. (NYSE:HEI)

Bahl & Gaynor Inc. lessened its stake in HEICO Co. (NYSE:HEI) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,758 shares of the aerospace company’s stock after selling 65 shares during the period. Bahl & Gaynor Inc.’s holdings in HEICO were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zeno Equity Partners LLP purchased a new position in HEICO in the fourth quarter valued at about $25,000. Psagot Value Holdings Ltd. Israel acquired a new position in HEICO in the fourth quarter valued at approximately $70,000. Beaumont Financial Advisors LLC acquired a new position in HEICO in the fourth quarter valued at approximately $200,000. Sequoia Financial Advisors LLC acquired a new position in HEICO in the fourth quarter valued at approximately $202,000. Finally, TrinityPoint Wealth LLC acquired a new position in HEICO in the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Insider Activity

In other news, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, the insider now directly owns 246,060 shares in the company, valued at approximately $44,305,563.60. The disclosure for this sale can be found here. Insiders have sold a total of 65,206 shares of company stock valued at $11,850,127 in the last quarter. Insiders own 8.10% of the company’s stock.

HEICO Trading Down 0.6 %

NYSE:HEI traded down $1.28 during trading hours on Wednesday, hitting $229.94. The company had a trading volume of 158,456 shares, compared to its average volume of 381,643. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average of $223.39 and a 200 day moving average of $202.63. The company has a market cap of $31.85 billion, a P/E ratio of 72.78, a P/E/G ratio of 3.30 and a beta of 1.20. HEICO Co. has a 1 year low of $155.42 and a 1 year high of $232.48.

HEICO (NYSE:HEI) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The company had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. During the same period in the prior year, the business earned $0.76 EPS. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. Sell-side analysts expect that HEICO Co. will post 3.57 earnings per share for the current year.

HEICO Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were paid a $0.11 dividend. This represents a dividend yield of 0.1%. The ex-dividend date was Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio is 6.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HEI. Truist Financial boosted their price target on HEICO from $240.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft boosted their price target on HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Robert W. Baird boosted their price target on HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Stifel Nicolaus boosted their price objective on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Finally, Royal Bank of Canada boosted their price objective on HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.89.

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.