Private Advisory Group LLC Takes $257,000 Position in HEICO Co. (NYSE:HEI)

Private Advisory Group LLC acquired a new stake in HEICO Co. (NYSE:HEI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 981 shares of the aerospace company’s stock, valued at approximately $257,000.

Several other hedge funds also recently modified their holdings of HEI. Virtu Financial LLC bought a new stake in shares of HEICO in the fourth quarter valued at approximately $392,000. Zeno Equity Partners LLP bought a new position in HEICO in the fourth quarter worth $11,365,000. Nomura Holdings Inc. bought a new position in HEICO in the fourth quarter worth $897,000. Meyer Handelman Co. bought a new position in HEICO in the first quarter worth $1,072,000. Finally, Gateway Investment Advisers LLC lifted its position in HEICO by 3.3% in the first quarter. Gateway Investment Advisers LLC now owns 53,781 shares of the aerospace company’s stock worth $10,272,000 after purchasing an additional 1,713 shares during the period. 27.12% of the stock is owned by institutional investors.

HEICO Stock Performance

HEICO stock opened at $264.72 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The stock has a fifty day moving average price of $251.81 and a two-hundred day moving average price of $228.00. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $269.38. The firm has a market capitalization of $36.69 billion, a P/E ratio of 77.63, a P/E/G ratio of 3.69 and a beta of 1.22.

HEICO (NYSE:HEI) last announced its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the company posted $0.77 earnings per share. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. As a group, analysts anticipate that HEICO Co. will post 3.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on HEI shares. Deutsche Bank Aktiengesellschaft raised their target price on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus raised their target price on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Benchmark reaffirmed a “buy” rating and issued a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Royal Bank of Canada raised their target price on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Finally, Truist Financial increased their price objective on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $263.56.

Insider Activity

In other news, insider Eric A. Mendelson sold 53,510 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the sale, the insider now directly owns 168,891 shares in the company, valued at approximately $30,741,539.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Eric A. Mendelson sold 53,510 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the sale, the insider now directly owns 168,891 shares in the company, valued at approximately $30,741,539.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Eric A. Mendelson sold 20,000 shares of HEICO stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the sale, the insider now owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,842 shares of company stock worth $13,528,631. 8.10% of the stock is owned by corporate insiders.

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.