Jennison Associates LLC Trims Position in HEICO Co. (NYSE:HEI)

Jennison Associates LLC trimmed its position in shares of HEICO Co. (NYSE:HEI) by 10.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 252,148 shares of the aerospace company’s stock after selling 29,409 shares during the period. Jennison Associates LLC’s holdings in HEICO were worth $65,932,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HEI. AGF Management Ltd. raised its holdings in HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after acquiring an additional 362,625 shares during the period. EULAV Asset Management raised its stake in HEICO by 23.4% during the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares during the period. TCW Group Inc. lifted its holdings in HEICO by 3.0% in the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after purchasing an additional 5,779 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in HEICO by 66.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares during the period. Finally, Vantage Investment Partners LLC grew its holdings in HEICO by 1.4% during the 3rd quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock valued at $32,013,000 after buying an additional 1,717 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HEI shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Robert W. Baird raised their price objective on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Bank of America boosted their target price on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus raised their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Morgan Stanley upped their price objective on HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, HEICO currently has a consensus rating of “Moderate Buy” and an average target price of $270.70.

Insider Buying and Selling at HEICO

In related news, Director Frank J. Schwitter bought 475 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were 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 approximately $436,409.80. The trade was a 37.85 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Alan Schriesheim sold 332 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total transaction of $66,941.16. The disclosure for this sale can be found here. Insiders acquired 2,650 shares of company stock worth $691,718 over the last 90 days. Company insiders own 8.10% of the company’s stock.

HEICO Stock Up 1.7 %

NYSE HEI opened at $277.35 on Thursday. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. HEICO Co. has a 52 week low of $167.56 and a 52 week high of $281.15. The firm has a market capitalization of $38.44 billion, a price-to-earnings ratio of 81.33, a PEG ratio of 3.28 and a beta of 1.23. The company has a fifty day moving average of $260.75 and a two-hundred day moving average of $240.56.

HEICO (NYSE:HEI) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $995.34 million. During the same period in the previous year, the company earned $0.77 EPS. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. On average, analysts predict that HEICO Co. will post 3.65 earnings per share for the current 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.