Everence Capital Management Inc. Purchases Shares of 7,070 HEICO Co. (NYSE:HEI)

Everence Capital Management Inc. bought a new position in HEICO Co. (NYSE:HEI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,070 shares of the aerospace company's stock, valued at approximately $1,681,000.

Other large investors also recently modified their holdings of the company. Andra AP fonden acquired a new position in HEICO during the 2nd quarter worth $45,000. Strategic Financial Concepts LLC acquired a new position in shares of HEICO during the second quarter valued at $67,000. Rakuten Securities Inc. bought a new position in HEICO in the third quarter valued at about $81,000. Brooklyn Investment Group acquired a new stake in HEICO in the third quarter worth about $128,000. Finally, Global Trust Asset Management LLC bought a new stake in HEICO during the 3rd quarter worth about $144,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HEI shares. Truist Financial lifted their price target on shares of HEICO from $264.00 to $282.00 and gave the stock a "buy" rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their target price 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. Bank of America raised their price target on HEICO from $250.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Morgan Stanley upped their price objective on HEICO from $245.00 to $265.00 and gave the company an "equal weight" rating in a report on Friday, October 18th. Finally, UBS Group began coverage on HEICO in a report on Tuesday, October 15th. They set a "neutral" rating and a $277.00 target price on the stock. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $270.20.

Insider Buying and Selling at HEICO

In other news, Director Alan Schriesheim sold 332 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurans A. Mendelson bought 725 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the acquisition, the chief executive officer now directly owns 929,984 shares of the company's stock, valued at $244,529,992.96. This represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 2,175 shares of company stock worth $571,895. Corporate insiders own 8.10% of the company's stock.

HEICO Stock Up 0.3 %

Shares of NYSE:HEI traded up $0.79 during trading on Friday, hitting $237.98. 356,373 shares of the company's stock traded hands, compared to its average volume of 324,437. The company has a market cap of $33.04 billion, a price-to-earnings ratio of 69.79, a price-to-earnings-growth ratio of 3.12 and a beta of 1.24. HEICO Co. has a 52 week low of $169.70 and a 52 week high of $283.60. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $257.09 and a 200-day moving average price of $248.84.

HEICO (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.02. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $0.74 EPS. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts forecast that HEICO Co. will post 3.64 EPS for the current fiscal year.

HEICO Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.11 dividend. This represents a yield of 0.1%. The ex-dividend date is Friday, January 3rd. HEICO's dividend payout ratio is presently 6.01%.

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.