Pekin Hardy Strauss Inc. Purchases New Shares in HEICO Co. (NYSE:HEI)

Pekin Hardy Strauss Inc. acquired a new position in shares of HEICO Co. (NYSE:HEI) in the third quarter, Holdings Channel reports. The fund acquired 850 shares of the aerospace company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HEI. Andra AP fonden acquired a new position in HEICO during the second quarter worth about $45,000. Center for Financial Planning Inc. purchased a new position in shares of HEICO during the 2nd quarter worth about $52,000. American National Bank acquired a new stake in shares of HEICO during the 2nd quarter worth $66,000. Strategic Financial Concepts LLC purchased a new stake in shares of HEICO during the 2nd quarter worth about $67,000. Finally, FSC Wealth Advisors LLC acquired a new stake in HEICO during the 2nd quarter worth approximately $73,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Trading Down 1.0 %

NYSE:HEI opened at $276.36 on Tuesday. HEICO Co. has a one year low of $167.56 and a one year high of $283.60. The business’s 50-day simple moving average is $261.85 and its 200 day simple moving average is $242.18. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The stock has a market cap of $38.30 billion, a price-to-earnings ratio of 81.04, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23.

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

Insider Activity at HEICO

In other news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the transaction, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The trade was a 37.85 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Victor H. Mendelson acquired 726 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was acquired at an average cost of $262.94 per share, with a total value of $190,894.44. Following the acquisition, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This trade represents a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,650 shares of company stock valued at $691,718 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

HEI has been the topic of a number of recent research reports. Bank of America boosted their price objective on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Truist Financial upped their price target on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus raised their price objective on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Barclays assumed coverage on HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $270.70.

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.