Moors & Cabot Inc. Decreases Stock Position in HEICO Co. (NYSE:HEI)

Moors & Cabot Inc. reduced its holdings in shares of HEICO Co. (NYSE:HEI) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,767 shares of the aerospace company’s stock after selling 194 shares during the quarter. Moors & Cabot Inc.’s holdings in HEICO were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in HEICO by 3.6% in the 1st quarter. Advisors Asset Management Inc. now owns 15,926 shares of the aerospace company’s stock worth $3,042,000 after acquiring an additional 548 shares during the period. Quadrature Capital Ltd purchased a new stake in HEICO during the first quarter valued at about $2,796,000. Morse Asset Management Inc acquired a new stake in HEICO during the first quarter worth about $1,136,000. Silvercrest Asset Management Group LLC raised its holdings in shares of HEICO by 13.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,204 shares of the aerospace company’s stock worth $2,331,000 after purchasing an additional 1,406 shares during the period. Finally, Virtu Financial LLC lifted its stake in shares of HEICO by 148.8% in the 1st quarter. Virtu Financial LLC now owns 5,449 shares of the aerospace company’s stock valued at $1,041,000 after purchasing an additional 3,259 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Trading Down 0.0 %

Shares of HEI stock opened at $277.35 on Friday. HEICO Co. has a 52-week low of $167.56 and a 52-week high of $281.97. The stock has a market cap of $38.44 billion, a price-to-earnings ratio of 81.33, a P/E/G ratio of 3.31 and a beta of 1.23. The firm has a fifty day moving average of $261.18 and a 200-day moving average of $240.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $992.20 million for 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%. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period last year, the company earned $0.77 EPS. On average, equities research analysts forecast that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at HEICO

In other news, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $262.94 per share, with a total value of $190,894.44. Following the acquisition, the insider now owns 1,234,950 shares in the company, valued at $324,717,753. This trade represents a 0.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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. Insiders bought 2,650 shares of company stock valued at $691,718 over the last three months. Company insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HEI has been the subject of several recent research reports. Stifel Nicolaus increased 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 price target on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Robert W. Baird increased their price objective on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Barclays assumed coverage on shares of HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 target price on the stock. Finally, 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 note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $270.70.

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.