Verity Asset Management Inc. Grows Stock Position in Heico Corporation $HEI

Verity Asset Management Inc. increased its holdings in Heico Corporation (NYSE:HEI) by 6.6% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,914 shares of the aerospace company’s stock after acquiring an additional 429 shares during the quarter. Heico accounts for 1.1% of Verity Asset Management Inc.’s portfolio, making the stock its 22nd largest position. Verity Asset Management Inc.’s holdings in Heico were worth $2,268,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HEI. Ridgewood Investments LLC raised its position in Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 46 shares during the period. Costello Asset Management INC bought a new stake in shares of Heico during the 1st quarter valued at $27,000. Caitong International Asset Management Co. Ltd increased its stake in shares of Heico by 17,800.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock worth $48,000 after purchasing an additional 178 shares in the last quarter. Banque Transatlantique SA raised its holdings in Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 68 shares during the period. Finally, Valley National Advisers Inc. purchased a new position in Heico during the second quarter valued at $114,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Heico

In related news, Director Carol F. Fine purchased 672 shares of Heico stock in a transaction on Friday, October 10th. The shares were bought at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the acquisition, the director owned 672 shares in the company, valued at approximately $163,920.96. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Julie Neitzel purchased 676 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was bought at an average price of $243.93 per share, for a total transaction of $164,896.68. Following the purchase, the director owned 676 shares in the company, valued at approximately $164,896.68. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 4,448 shares of company stock valued at $1,086,933 in the last ninety days. Corporate insiders own 9.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on HEI shares. Truist Financial upped their price target on Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Wall Street Zen raised shares of Heico from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Bank of America raised their target price on shares of Heico from $355.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Heico in a research report on Monday, August 18th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $382.00 price objective (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $346.09.

Heico Stock Up 2.3%

NYSE HEI opened at $317.60 on Monday. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. The stock has a market cap of $44.21 billion, a PE ratio of 69.50, a P/E/G ratio of 3.64 and a beta of 1.08. The stock’s 50 day moving average is $316.74 and its 200 day moving average is $304.20.

Heico (NYSE:HEI) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. Heico had a net margin of 14.96% and a return on equity of 16.29%. The company’s revenue was up 15.7% on a year-over-year basis. During the same period last year, the firm posted $0.97 EPS. Research analysts predict that Heico Corporation will post 4.2 EPS for the current fiscal year.

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.