Barrett & Company Inc. Increases Position in HEICO Co. (NYSE:HEI)

Barrett & Company Inc. lifted its holdings in shares of HEICO Co. (NYSE:HEI) by 12.2% during the fourth quarter, Holdings Channel reports. The fund owned 3,141 shares of the aerospace company’s stock after purchasing an additional 341 shares during the quarter. Barrett & Company Inc.’s holdings in HEICO were worth $747,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HEI. Rakuten Securities Inc. bought a new stake in HEICO in the third quarter valued at about $81,000. Berbice Capital Management LLC bought a new stake in HEICO in the fourth quarter valued at about $95,000. Brooklyn Investment Group bought a new stake in HEICO in the third quarter valued at about $128,000. Global Trust Asset Management LLC bought a new stake in HEICO in the third quarter valued at about $144,000. Finally, Arcadia Investment Management Corp MI bought a new stake in HEICO in the third quarter valued at about $157,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

HEICO Stock Down 1.8 %

HEI stock opened at $232.27 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. HEICO Co. has a 52-week low of $182.47 and a 52-week high of $283.60. The company has a 50-day moving average of $242.60 and a two-hundred day moving average of $249.94. The stock has a market capitalization of $32.25 billion, a price-to-earnings ratio of 63.46, a price-to-earnings-growth ratio of 3.28 and a beta of 1.29.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.03 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 earnings per share. As a group, equities research analysts anticipate that HEICO Co. will post 4.2 EPS for the current year.

HEICO Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on HEI shares. KeyCorp started coverage on HEICO in a research note on Thursday, January 16th. They issued a “sector weight” rating for the company. Morgan Stanley lifted their target price 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 lifted their target price on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, October 18th. UBS Group started coverage on HEICO in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $270.20.

HEICO Company 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.