Valley National Advisers Inc. Makes New $114,000 Investment in Heico Corporation $HEI

Valley National Advisers Inc. purchased a new stake in Heico Corporation (NYSE:HEI) during the second quarter, according to its most recent 13F filing with the SEC. The firm purchased 350 shares of the aerospace company’s stock, valued at approximately $114,000.

Several other large investors have also recently modified their holdings of HEI. EULAV Asset Management grew its holdings in Heico by 1.8% in the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company’s stock worth $123,360,000 after purchasing an additional 8,000 shares during the last quarter. American Century Companies Inc. grew its stake in Heico by 11.3% during the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock worth $83,528,000 after buying an additional 31,834 shares during the last quarter. Congress Asset Management Co. increased its position in Heico by 366.0% during the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after buying an additional 242,264 shares in the last quarter. Vantage Investment Partners LLC raised its stake in Heico by 1.1% in the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company’s stock valued at $43,324,000 after buying an additional 1,772 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Heico in the first quarter worth about $40,949,000. Institutional investors own 27.12% of the company’s stock.

Insider Transactions at Heico

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the sale, the chairman directly owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 9.55% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HEI. Robert W. Baird boosted their price objective on shares of Heico from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. Morgan Stanley boosted their price target on Heico from $305.00 to $330.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $360.00 price objective on Heico in a report on Tuesday, August 26th. Bank of America lifted their target price on Heico from $355.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, Truist Financial increased their price target on shares of Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s 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 0.5%

HEI stock opened at $322.26 on Tuesday. Heico Corporation has a one year low of $216.68 and a one year high of $338.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. The firm’s fifty day moving average is $317.67 and its 200 day moving average is $296.27. The firm has a market cap of $44.86 billion, a PE ratio of 70.52, a P/E/G ratio of 3.76 and a beta of 1.08.

Heico (NYSE:HEI) last issued its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’s revenue was up 15.7% compared to the same quarter last year. On average, research analysts forecast that Heico Corporation will post 4.2 EPS for the current year.

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.