Huber Financial Advisors LLC purchased a new position in Heico Corp (NYSE:HEI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,000 shares of the aerospace company’s stock, valued at approximately $268,000.
A number of other institutional investors have also recently made changes to their positions in HEI. Macquarie Group Ltd. boosted its stake in Heico by 751.2% in the 4th quarter. Macquarie Group Ltd. now owns 349 shares of the aerospace company’s stock worth $27,000 after purchasing an additional 308 shares in the last quarter. Icon Wealth Partners LLC bought a new position in Heico in the 1st quarter worth about $96,000. Brand Asset Management Group Inc. bought a new position in Heico in the 1st quarter worth about $124,000. Carlson Capital Management bought a new position in Heico in the 1st quarter worth about $201,000. Finally, Ibex Investors LLC bought a new position in Heico in the 2nd quarter worth about $229,000. Institutional investors own 25.36% of the company’s stock.
In other news, CAO Steven M. Walker sold 4,200 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $103.00, for a total transaction of $432,600.00. Following the completion of the sale, the chief accounting officer now owns 2,062 shares of the company’s stock, valued at approximately $212,386. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Laurans A. Mendelson sold 100,000 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $98.17, for a total transaction of $9,817,000.00. Following the sale, the chief executive officer now directly owns 927,445 shares of the company’s stock, valued at approximately $91,047,275.65. The disclosure for this sale can be found here. Insiders have sold a total of 167,473 shares of company stock valued at $16,698,107 in the last ninety days. Insiders own 9.23% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Bank of America cut shares of Heico from a “buy” rating to an “underperform” rating and set a $105.00 price target on the stock. in a research note on Thursday, July 11th. They noted that the move was a valuation call. ValuEngine lowered Heico from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research report on Friday, May 24th. UBS Group boosted their target price on Heico from $85.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 30th. Finally, Credit Suisse Group boosted their target price on Heico from $127.00 to $133.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. Heico currently has an average rating of “Buy” and an average price target of $118.00.
NYSE:HEI traded up $0.80 during mid-day trading on Monday, reaching $142.60. The company’s stock had a trading volume of 3,601 shares, compared to its average volume of 406,577. Heico Corp has a 12-month low of $71.47 and a 12-month high of $144.37. The firm’s fifty day moving average price is $137.46 and its two-hundred day moving average price is $111.59. The company has a current ratio of 3.20, a quick ratio of 1.56 and a debt-to-equity ratio of 0.33. The stock has a market cap of $18.90 billion, a P/E ratio of 78.84, a PEG ratio of 4.52 and a beta of 0.68.
Heico (NYSE:HEI) last issued its earnings results on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.11. Heico had a return on equity of 18.31% and a net margin of 15.36%. The business had revenue of $515.60 million during the quarter, compared to analyst estimates of $480.17 million. During the same quarter in the previous year, the firm earned $0.55 EPS. Heico’s revenue was up 19.7% on a year-over-year basis. Analysts predict that Heico Corp will post 2.24 earnings per share for the current fiscal year.
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.
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