Versant Capital Management Inc Trims Holdings in Heico Corp (NYSE:HEI)

Versant Capital Management Inc lessened its stake in shares of Heico Corp (NYSE:HEI) by 33.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 205 shares of the aerospace company’s stock after selling 102 shares during the period. Versant Capital Management Inc’s holdings in Heico were worth $27,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Federated Investors Inc. PA raised its holdings in shares of Heico by 7.8% during the 1st quarter. Federated Investors Inc. PA now owns 829,546 shares of the aerospace company’s stock worth $78,699,000 after acquiring an additional 59,748 shares during the period. Thoroughbred Financial Services LLC raised its stake in Heico by 10,711.5% during the second quarter. Thoroughbred Financial Services LLC now owns 329,858 shares of the aerospace company’s stock worth $32,986,000 after purchasing an additional 326,807 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in Heico by 126.4% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 97,958 shares of the aerospace company’s stock worth $9,293,000 after purchasing an additional 54,696 shares during the period. TCW Group Inc. raised its stake in Heico by 4.7% during the first quarter. TCW Group Inc. now owns 81,422 shares of the aerospace company’s stock worth $7,725,000 after purchasing an additional 3,633 shares during the period. Finally, Nordea Investment Management AB raised its stake in Heico by 1.4% during the first quarter. Nordea Investment Management AB now owns 52,744 shares of the aerospace company’s stock worth $5,003,000 after purchasing an additional 739 shares during the period. Institutional investors and hedge funds own 24.88% of the company’s stock.

HEI traded down $1.58 on Friday, hitting $136.43. The company had a trading volume of 335,404 shares, compared to its average volume of 403,662. The stock’s fifty day simple moving average is $134.24. The stock has a market cap of $18.30 billion, a price-to-earnings ratio of 75.38, a P/E/G ratio of 4.37 and a beta of 0.68. Heico Corp has a 1 year low of $71.47 and a 1 year high of $140.31. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.56 and a current ratio of 3.20.

Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. The business had revenue of $515.60 million for the quarter, compared to the consensus estimate of $480.17 million. Heico had a net margin of 15.36% and a return on equity of 18.31%. The business’s revenue was up 19.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. On average, equities research analysts predict that Heico Corp will post 2.24 EPS for the current year.

The company also recently announced a dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a $0.07 dividend. The ex-dividend date was Friday, June 28th. Heico’s payout ratio is 7.73%.

HEI has been the topic of several analyst reports. Cowen reaffirmed a “hold” rating and set a $95.00 price target on shares of Heico in a research report on Wednesday, May 29th. UBS Group lifted their price target on shares of Heico from $85.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, April 30th. Credit Suisse Group lifted their price target on shares of Heico from $127.00 to $133.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Zacks Investment Research upgraded Heico from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Friday, May 24th. Finally, ValuEngine downgraded Heico from a “strong-buy” rating to a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $113.50.

In other Heico news, CEO Laurans A. Mendelson sold 100,000 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $98.17, for a total transaction of $9,817,000.00. Following the sale, the chief executive officer now directly owns 927,445 shares in the company, valued at $91,047,275.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Steven M. Walker sold 4,200 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $103.00, for a total transaction of $432,600.00. Following the sale, the chief accounting officer now owns 2,062 shares in the company, valued at $212,386. The disclosure for this sale can be found here. In the last three months, insiders sold 167,473 shares of company stock worth $16,698,107. 9.23% of the stock is owned by corporate insiders.

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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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Institutional Ownership by Quarter for Heico (NYSE:HEI)

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