Raymond James Financial Services Advisors Inc. increased its position in shares of Heico Corp (NYSE:HEI) by 111.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,765 shares of the aerospace company’s stock after purchasing an additional 14,654 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Heico were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in HEI. Franklin Resources Inc. lifted its holdings in Heico by 225.9% during the 1st quarter. Franklin Resources Inc. now owns 495,405 shares of the aerospace company’s stock worth $43,006,000 after purchasing an additional 343,401 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Heico by 23.2% during the 2nd quarter. Fisher Asset Management LLC now owns 1,666,535 shares of the aerospace company’s stock worth $121,540,000 after purchasing an additional 313,926 shares during the last quarter. Fred Alger Management Inc. lifted its holdings in Heico by 25.0% during the 2nd quarter. Fred Alger Management Inc. now owns 914,019 shares of the aerospace company’s stock worth $66,659,000 after purchasing an additional 183,080 shares during the last quarter. Riverbridge Partners LLC lifted its holdings in Heico by 8.7% during the 2nd quarter. Riverbridge Partners LLC now owns 2,000,193 shares of the aerospace company’s stock worth $145,874,000 after purchasing an additional 159,440 shares during the last quarter. Finally, Brown Advisory Inc. lifted its holdings in Heico by 25.2% during the 1st quarter. Brown Advisory Inc. now owns 757,420 shares of the aerospace company’s stock worth $65,752,000 after purchasing an additional 152,499 shares during the last quarter. 23.28% of the stock is owned by institutional investors and hedge funds.
Several brokerages have weighed in on HEI. UBS Group began coverage on Heico in a report on Wednesday, August 15th. They issued a “neutral” rating and a $83.00 price objective for the company. Robert W. Baird began coverage on Heico in a report on Wednesday, August 8th. They issued a “neutral” rating and a $84.00 price objective for the company. Canaccord Genuity dropped their price objective on Heico from $105.00 to $84.00 and set a “buy” rating for the company in a report on Friday, June 29th. ValuEngine cut Heico from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. Finally, Zacks Investment Research cut Heico from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $76.36.
In other news, Director Alan Schriesheim sold 5,347 shares of Heico stock in a transaction on Wednesday, July 11th. The stock was sold at an average price of $62.59, for a total value of $334,668.73. Following the transaction, the director now owns 16,041 shares in the company, valued at approximately $1,004,006.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Laurans A. Mendelson sold 102,701 shares of Heico stock in a transaction on Friday, June 1st. The shares were sold at an average price of $76.13, for a total value of $7,818,627.13. Following the completion of the transaction, the chief executive officer now owns 740,910 shares in the company, valued at approximately $56,405,478.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 138,048 shares of company stock worth $10,439,596. Corporate insiders own 9.88% of the company’s stock.
Shares of NYSE HEI opened at $78.00 on Monday. The firm has a market capitalization of $10.23 billion, a price-to-earnings ratio of 57.78, a P/E/G ratio of 3.45 and a beta of 0.62. The company has a quick ratio of 1.36, a current ratio of 3.02 and a debt-to-equity ratio of 0.50. Heico Corp has a fifty-two week low of $51.62 and a fifty-two week high of $78.58.
Heico (NYSE:HEI) last issued its quarterly earnings results on Tuesday, May 29th. The aerospace company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.02. Heico had a return on equity of 15.22% and a net margin of 13.60%. The company had revenue of $430.60 million for the quarter, compared to analyst estimates of $426.47 million. During the same quarter last year, the company posted $0.42 EPS. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. equities research analysts forecast that Heico Corp will post 1.84 EPS for the current fiscal year.
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.
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