Quantbot Technologies LP Grows Position in HEICO Co. (NYSE:HEI)

Quantbot Technologies LP grew its stake in HEICO Co. (NYSE:HEI) by 424.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,801 shares of the aerospace company’s stock after buying an additional 15,214 shares during the quarter. Quantbot Technologies LP’s holdings in HEICO were worth $4,916,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. AGF Management Ltd. increased its holdings in HEICO by 61.7% in 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. Vantage Investment Partners LLC purchased a new position in shares of HEICO during the 2nd quarter valued at $26,993,000. Driehaus Capital Management LLC boosted its holdings 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 buying an additional 77,067 shares during the period. EULAV Asset Management increased its stake in HEICO by 23.4% in the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in HEICO during the second quarter valued at about $67,000. Institutional investors own 27.12% of the company’s stock.

Insider Activity at HEICO

In other news, Director Frank J. Schwitter acquired 475 shares of HEICO stock in a transaction that occurred on Tuesday, September 3rd. The stock was purchased at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the purchase, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The trade was a 37.85 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Laurans A. Mendelson purchased 725 shares of the business’s stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the acquisition, the chief executive officer now directly owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. The trade was a 0.08 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,650 shares of company stock valued at $691,718 over the last ninety days. 8.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on HEI. Morgan Stanley increased their target price on HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Truist Financial lifted their price objective on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Benchmark reaffirmed a “buy” rating and set a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Barclays assumed coverage on shares of HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price target on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

HEICO Trading Down 0.2 %

Shares of NYSE HEI opened at $275.74 on Wednesday. The firm has a market cap of $38.22 billion, a PE ratio of 80.86, a price-to-earnings-growth ratio of 3.35 and a beta of 1.23. 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 twelve month low of $167.56 and a twelve month high of $283.60. The business has a fifty day simple moving average of $261.85 and a two-hundred day simple moving average of $242.18.

HEICO (NYSE:HEI) last issued its earnings results 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. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The company had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. During the same period in the prior year, the business earned $0.77 EPS. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. Analysts expect that HEICO Co. will post 3.65 earnings per share for the current fiscal 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.