Verity Asset Management Inc. Cuts Stock Holdings in HEICO Co. (NYSE:HEI)

Verity Asset Management Inc. cut its position in shares of HEICO Co. (NYSE:HEI) by 6.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,501 shares of the aerospace company’s stock after selling 427 shares during the period. Verity Asset Management Inc.’s holdings in HEICO were worth $1,700,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AGF Management Ltd. boosted its stake in shares of HEICO by 61.7% during the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after acquiring an additional 362,625 shares in the last quarter. EULAV Asset Management boosted its position in HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after purchasing an additional 66,800 shares in the last quarter. TCW Group Inc. grew its holdings in HEICO by 3.0% in the second quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after purchasing an additional 5,779 shares during the period. Driehaus Capital Management LLC increased its position in shares of HEICO by 66.0% in the second 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 in the last quarter. Finally, Vantage Investment Partners LLC acquired a new position in shares of HEICO during the 2nd quarter worth approximately $26,993,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Transactions at HEICO

In related news, Director Alan Schriesheim sold 332 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other HEICO news, Director Alan Schriesheim sold 332 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Victor H. Mendelson purchased 726 shares of the company’s stock in a transaction on Friday, October 18th. The shares were bought at an average price of $262.94 per share, with a total value of $190,894.44. Following the completion of the transaction, the insider now owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,650 shares of company stock worth $691,718 in the last 90 days. Insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HEI. Royal Bank of Canada boosted their price target on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Robert W. Baird boosted their target price on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Truist Financial raised their price target on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Morgan Stanley boosted their price objective on HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, Benchmark restated a “buy” rating and issued a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, HEICO has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Stock Down 3.1 %

Shares of NYSE:HEI opened at $253.24 on Friday. HEICO Co. has a 52-week low of $160.05 and a 52-week high of $269.38. The stock has a market cap of $35.10 billion, a P/E ratio of 74.26, a PEG ratio of 3.02 and a beta of 1.23. The business has a fifty day moving average of $257.78 and a two-hundred day moving average of $236.38. 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 (NYSE:HEI) last released its quarterly earnings data 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 firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. HEICO’s revenue was up 37.3% compared to the same quarter last year. During the same period last year, the business earned $0.77 earnings per share. On average, research analysts expect that HEICO Co. will post 3.65 earnings per share for the current year.

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.