MGB Wealth Management LLC Purchases 100 Shares of HEICO Co. (NYSE:HEI)

MGB Wealth Management LLC increased its position in HEICO Co. (NYSE:HEI) by 3.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,900 shares of the aerospace company’s stock after purchasing an additional 100 shares during the period. MGB Wealth Management LLC’s holdings in HEICO were worth $758,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HEI. Moody Lynn & Lieberson LLC raised its position in HEICO by 1.8% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 4,186 shares of the aerospace company’s stock worth $1,095,000 after buying an additional 73 shares during the last quarter. Clear Harbor Asset Management LLC raised its position in HEICO by 0.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock worth $5,109,000 after buying an additional 80 shares during the last quarter. Avalon Capital Management raised its position in HEICO by 3.5% in the 2nd quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock worth $808,000 after buying an additional 123 shares during the last quarter. Verity Asset Management Inc. raised its position in HEICO by 2.2% in the 1st quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock worth $1,222,000 after buying an additional 139 shares during the last quarter. Finally, Calamos Wealth Management LLC raised its position in HEICO by 14.7% in the 2nd quarter. Calamos Wealth Management LLC now owns 1,560 shares of the aerospace company’s stock worth $349,000 after buying an additional 200 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Insider Buying and Selling

In other HEICO news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the purchase, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. This trade represents a 37.85 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Laurans A. Mendelson purchased 725 shares of the company’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $262.94 per share, with a total value of $190,631.50. Following the completion of the purchase, the chief executive officer now directly owns 929,984 shares in the company, valued at $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 2,650 shares of company stock valued at $691,718. 8.10% of the stock is owned by corporate insiders.

HEICO Trading Up 0.6 %

HEICO stock opened at $279.02 on Friday. The firm has a 50 day moving average of $261.57 and a 200 day moving average of $241.51. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of 81.82, a P/E/G ratio of 3.36 and a beta of 1.23. HEICO Co. has a 12-month low of $167.56 and a 12-month high of $282.82. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last released its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. As a group, research analysts predict that HEICO Co. will post 3.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HEI. Benchmark reissued a “buy” rating and issued a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Robert W. Baird upped their price target on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Truist Financial upped their price target on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group started coverage on shares of HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price target for the company. Finally, Stifel Nicolaus upped their price target on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $270.70.

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.