Essex LLC Trims Holdings in HEICO Co. (NYSE:HEI)

Essex LLC cut its holdings in shares of HEICO Co. (NYSE:HEI) by 7.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,065 shares of the aerospace company’s stock after selling 90 shares during the quarter. Essex LLC’s holdings in HEICO were worth $278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. AGF Management Ltd. raised its holdings in shares of HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after purchasing an additional 362,625 shares during the last quarter. Vantage Investment Partners LLC purchased a new position in shares of HEICO during the 2nd quarter valued at about $26,993,000. Driehaus Capital Management LLC lifted its holdings in shares of 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 buying an additional 77,067 shares during the period. EULAV Asset Management boosted its stake in shares of HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in HEICO during the second quarter worth about $67,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Stock Down 1.5 %

HEI stock opened at $260.89 on Friday. The stock has a market capitalization of $36.13 billion, a P/E ratio of 82.04, a P/E/G ratio of 3.69 and a beta of 1.22. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $269.38. The firm has a 50-day simple moving average of $255.17 and a 200-day simple moving average of $230.83. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. HEICO’s quarterly revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.77 EPS. Equities analysts forecast that HEICO Co. will post 3.66 earnings per share for the current fiscal year.

Insider Buying and Selling at HEICO

In other HEICO news, Director Frank J. Schwitter bought 475 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $252.26 per share, with a total value of $119,823.50. Following the completion of the acquisition, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the transaction, the insider now owns 148,891 shares in the company, valued at $27,707,126.19. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 8.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on HEI shares. Stifel Nicolaus boosted their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Royal Bank of Canada boosted their target price on shares of HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft raised their price target on shares of HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Barclays began coverage on shares of HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Finally, Morgan Stanley raised their target price on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.70.

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.