Synovus Financial Corp Acquires 475 Shares of HEICO Co. (NYSE:HEI)

Synovus Financial Corp lifted its holdings in shares of HEICO Co. (NYSE:HEI) by 31.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,975 shares of the aerospace company’s stock after purchasing an additional 475 shares during the period. Synovus Financial Corp’s holdings in HEICO were worth $516,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HEI. Two Sigma Advisers LP raised its stake in HEICO by 3.7% in the 3rd quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock valued at $94,885,000 after acquiring an additional 13,100 shares during the period. Driehaus Capital Management LLC raised its stake in HEICO by 66.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after acquiring an additional 77,067 shares during the period. AdvisorShares Investments LLC raised its stake in HEICO by 7.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after acquiring an additional 2,244 shares during the period. Bright Rock Capital Management LLC bought a new stake in HEICO in the 3rd quarter valued at about $1,830,000. Finally, Seven Eight Capital LP bought a new stake in HEICO in the 2nd quarter valued at about $423,000. 27.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HEI shares. Morgan Stanley boosted their price objective 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 boosted their price objective on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group started coverage on HEICO in a report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 target price for the company. Finally, Bank of America lifted their target price on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

Insider Transactions at HEICO

In other news, CEO Laurans A. Mendelson bought 725 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the transaction, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Schriesheim sold 332 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 2,175 shares of company stock valued at $571,895. 8.10% of the stock is owned by corporate insiders.

HEICO Stock Down 1.1 %

Shares of NYSE HEI opened at $259.92 on Wednesday. HEICO Co. has a 12 month low of $169.70 and a 12 month 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 firm has a market capitalization of $36.02 billion, a price-to-earnings ratio of 76.22, a PEG ratio of 3.14 and a beta of 1.24. The business has a 50-day moving average of $262.66 and a 200-day moving average of $247.81.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Tuesday, December 17th. The aerospace company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $0.74 earnings per share. HEICO’s revenue was up 8.2% on a year-over-year basis. Sell-side analysts expect that HEICO Co. will post 3.64 earnings per share for the current fiscal year.

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. 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.