Royce & Associates LP Decreases Stock Holdings in HEICO Co. (NYSE:HEI)

Royce & Associates LP trimmed its position in shares of HEICO Co. (NYSE:HEI) by 65.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,618 shares of the aerospace company’s stock after selling 96,363 shares during the period. Royce & Associates LP’s holdings in HEICO were worth $12,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Postrock Partners LLC purchased a new stake in shares of HEICO during the 4th quarter worth approximately $2,368,000. Sequoia Financial Advisors LLC raised its holdings in HEICO by 5.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company’s stock valued at $231,000 after buying an additional 46 shares during the period. PFG Advisors raised its holdings in HEICO by 0.8% during the 4th quarter. PFG Advisors now owns 8,960 shares of the aerospace company’s stock valued at $2,130,000 after buying an additional 70 shares during the period. Wealthfront Advisers LLC raised its holdings in HEICO by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company’s stock valued at $5,285,970,000 after buying an additional 22,224,106 shares during the period. Finally, Clare Market Investments LLC purchased a new stake in HEICO during the 4th quarter valued at $238,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

HEICO Price Performance

HEI opened at $260.30 on Tuesday. HEICO Co. has a 12-month low of $185.03 and a 12-month high of $283.60. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The business’s fifty day simple moving average is $238.64 and its 200-day simple moving average is $251.06. The company has a market capitalization of $36.17 billion, a price-to-earnings ratio of 71.12, a PEG ratio of 3.10 and a beta of 1.26.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Wednesday, February 26th. The aerospace company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.27. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.10 million. On average, equities research analysts anticipate that HEICO Co. will post 4.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on HEI shares. KeyCorp started coverage on HEICO in a report on Thursday, January 16th. They set a “sector weight” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Truist Financial increased their price target on HEICO from $282.00 to $294.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $271.40.

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.