MGO One Seven LLC Cuts Stock Holdings in HEICO Co. (NYSE:HEI)

MGO One Seven LLC reduced its stake in HEICO Co. (NYSE:HEI) by 2.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,982 shares of the aerospace company’s stock after selling 69 shares during the quarter. MGO One Seven LLC’s holdings in HEICO were worth $709,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. World Investment Advisors LLC purchased a new stake in shares of HEICO in the third quarter valued at about $315,000. Tidal Investments LLC grew its position in HEICO by 7.9% in the 3rd quarter. Tidal Investments LLC now owns 1,557 shares of the aerospace company’s stock worth $407,000 after purchasing an additional 114 shares in the last quarter. Synovus Financial Corp increased its stake in HEICO by 31.7% in the 3rd quarter. Synovus Financial Corp now owns 1,975 shares of the aerospace company’s stock valued at $516,000 after buying an additional 475 shares during the last quarter. Legacy Wealth Management LLC MS purchased a new stake in HEICO in the 3rd quarter valued at about $214,000. Finally, Everence Capital Management Inc. bought a new position in shares of HEICO during the 4th quarter worth approximately $1,681,000. 27.12% of the stock is currently owned by institutional investors.

HEICO Price Performance

NYSE HEI opened at $247.16 on Friday. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The company has a market cap of $34.34 billion, a PE ratio of 67.53, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07. HEICO Co. has a 52 week low of $205.82 and a 52 week high of $283.60. The firm’s 50-day simple moving average is $252.26 and its two-hundred day simple moving average is $250.07.

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

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim sold 50,000 shares of HEICO stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the transaction, the director now owns 157,197 shares of the company’s stock, valued at $37,659,685.29. The trade was a 24.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Julie Neitzel sold 700 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the sale, the director now directly owns 418 shares in the company, valued at approximately $102,924.14. The trade was a 62.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.55% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HEI. Truist Financial reduced their target price on HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company assumed coverage on HEICO in a research note on Tuesday, April 15th. They issued an “equal weight” rating and a $244.00 price objective for the company. William Blair reiterated an “outperform” rating on shares of HEICO in a research note on Tuesday, March 25th. Finally, KeyCorp started coverage on shares of HEICO in a research report on Thursday, January 16th. They set a “sector weight” rating for the company. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, HEICO presently has an average rating of “Moderate Buy” and an average target price of $267.36.

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.