Navellier & Associates Inc. Trims Stake in HEICO Co. (NYSE:HEI)

Navellier & Associates Inc. lessened its position in HEICO Co. (NYSE:HEI) by 24.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,410 shares of the aerospace company’s stock after selling 760 shares during the quarter. Navellier & Associates Inc.’s holdings in HEICO were worth $630,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in shares of HEICO in the 1st quarter valued at about $2,796,000. Driehaus Capital Management LLC grew its holdings in HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after buying an additional 77,067 shares during the last quarter. AdvisorShares Investments LLC grew its holdings in HEICO by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after buying an additional 2,244 shares during the last quarter. Virtu Financial LLC grew its holdings in HEICO by 148.8% during the 1st quarter. Virtu Financial LLC now owns 5,449 shares of the aerospace company’s stock valued at $1,041,000 after buying an additional 3,259 shares during the last quarter. Finally, Bright Rock Capital Management LLC acquired a new stake in HEICO during the 3rd quarter valued at $1,830,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on HEI. Barclays began coverage on HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Bank of America raised their price objective on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Morgan Stanley raised their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. UBS Group started coverage on HEICO in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

Insider Activity at HEICO

In other HEICO 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 transaction of $66,941.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Laurans A. Mendelson bought 725 shares of the stock in a transaction on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, with a total value of $190,631.50. Following the acquisition, the chief executive officer now directly owns 929,984 shares in the company, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 2,650 shares of company stock worth $691,718. Company insiders own 8.10% of the company’s stock.

HEICO Trading Down 0.0 %

NYSE HEI opened at $277.35 on Friday. HEICO Co. has a 1-year low of $167.56 and a 1-year high of $281.97. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $38.44 billion, a PE ratio of 81.33, a price-to-earnings-growth ratio of 3.31 and a beta of 1.23. The firm’s fifty day simple moving average is $261.18 and its 200-day simple moving average is $240.82.

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

About HEICO

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.