PFG Advisors Lowers Stake in HEICO Co. (NYSE:HEI)

PFG Advisors reduced its stake in shares of HEICO Co. (NYSE:HEIFree Report) by 11.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,890 shares of the aerospace company’s stock after selling 1,140 shares during the quarter. PFG Advisors’ holdings in HEICO were worth $2,325,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Clear Harbor Asset Management LLC raised its holdings in shares of HEICO by 0.4% in the second quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock valued at $5,109,000 after acquiring an additional 80 shares in the last quarter. Avalon Capital Management raised its holdings in shares of HEICO by 3.5% in the second quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock valued at $808,000 after acquiring an additional 123 shares in the last quarter. Verity Asset Management Inc. raised its holdings in shares of HEICO by 2.2% in the first quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock valued at $1,222,000 after acquiring an additional 139 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of HEICO by 12.9% in the first quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock valued at $275,000 after acquiring an additional 164 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its holdings in shares of HEICO by 14.7% in the second quarter. Calamos Wealth Management LLC now owns 1,560 shares of the aerospace company’s stock valued at $349,000 after acquiring an additional 200 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

HEICO Stock Performance

Shares of HEICO stock opened at $265.26 on Thursday. The firm has a market capitalization of $36.74 billion, a P/E ratio of 83.41, a PEG ratio of 3.69 and a beta of 1.22. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The company has a 50 day moving average price of $254.06 and a 200 day moving average price of $229.78. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $269.38.

HEICO (NYSE:HEIGet Free Report) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the firm posted $0.77 EPS. HEICO’s revenue was up 37.3% on a year-over-year basis. Sell-side analysts expect that HEICO Co. will post 3.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HEI. Robert W. Baird boosted their target price on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Bank of America boosted their target price on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. UBS Group began coverage on shares of HEICO in a report on Tuesday. They issued a “neutral” rating and a $277.00 target price for the company. Royal Bank of Canada boosted their target price on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Benchmark reiterated a “buy” rating and issued a $245.00 target price on shares of HEICO in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $264.90.

Check Out Our Latest Research Report on HEI

Insider Buying and Selling

In other news, insider Eric A. Mendelson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the sale, the insider now owns 148,891 shares of the company’s stock, valued at $27,707,126.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Alan Schriesheim sold 332 shares of HEICO stock in a transaction on Monday, October 7th. The shares were sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric A. Mendelson sold 20,000 shares of HEICO stock in a transaction on Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the sale, the insider now directly owns 148,891 shares in the company, valued at $27,707,126.19. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 8.10% of the stock is owned by corporate insiders.

HEICO Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for HEICO (NYSE:HEI)

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