HEICO Co. (NYSE:HEI) Position Trimmed by Bell Bank

Bell Bank reduced its holdings in HEICO Co. (NYSE:HEI) by 8.6% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,398 shares of the aerospace company’s stock after selling 700 shares during the quarter. Bell Bank’s holdings in HEICO were worth $1,934,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HEI. MQS Management LLC acquired a new position in HEICO during the 3rd quarter valued at approximately $284,000. Rakuten Securities Inc. bought a new stake in HEICO in the third quarter valued at $81,000. Vantage Investment Partners LLC boosted its holdings in shares of HEICO by 1.4% during the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock valued at $32,013,000 after acquiring an additional 1,717 shares during the period. SpiderRock Advisors LLC grew its position in shares of HEICO by 498.1% during the third quarter. SpiderRock Advisors LLC now owns 15,490 shares of the aerospace company’s stock worth $4,050,000 after acquiring an additional 12,900 shares during the last quarter. Finally, TFB Advisors LLC acquired a new stake in shares of HEICO in the 3rd quarter worth about $333,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Frank J. Schwitter bought 475 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Frank J. Schwitter bought 475 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the transaction, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Victor H. Mendelson purchased 726 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, with a total value of $190,894.44. Following the transaction, the insider now owns 1,234,950 shares in the company, valued at $324,717,753. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 2,650 shares of company stock worth $691,718. Corporate insiders own 8.10% of the company’s stock.

HEICO Trading Up 3.9 %

Shares of HEI stock opened at $273.92 on Thursday. The stock has a 50-day simple moving average of $258.72 and a 200 day simple moving average of $238.30. The stock has a market capitalization of $37.97 billion, a P/E ratio of 80.33, a P/E/G ratio of 3.20 and a beta of 1.23. HEICO Co. has a fifty-two week low of $167.56 and a fifty-two week high of $274.10. 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 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same quarter last year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. On average, sell-side analysts expect that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on HEI shares. Robert W. Baird boosted their target price on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Truist Financial raised their target price on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group assumed coverage on HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their price objective 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. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, HEICO currently has an average rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO 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.