HEICO Co. (NYSE:HEI) Short Interest Up 29.2% in November

HEICO Co. (NYSE:HEI) was the recipient of a significant growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,520,000 shares, a growth of 29.2% from the October 31st total of 1,950,000 shares. Currently, 6.0% of the company’s stock are sold short. Based on an average daily trading volume, of 403,500 shares, the days-to-cover ratio is currently 6.2 days.

Insiders Place Their Bets

In related news, Director Alan Schriesheim purchased 724 shares of HEICO stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, with a total value of $190,368.56. Following the acquisition, the director now directly owns 174,878 shares in the company, valued at approximately $45,982,421.32. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Frank J. Schwitter bought 475 shares of HEICO stock in a transaction that occurred on Tuesday, September 3rd. The stock was bought at an average price of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. This trade represents a 37.85 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 2,650 shares of company stock valued at $691,718 over the last three months. 8.10% of the stock is currently owned by insiders.

Institutional Trading of HEICO

Large investors have recently added to or reduced their stakes in the company. AGF Management Ltd. increased its holdings in shares of HEICO by 61.7% in the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after purchasing an additional 362,625 shares during the last quarter. EULAV Asset Management lifted its position in shares of HEICO by 5.0% during the 3rd quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock valued at $105,165,000 after acquiring an additional 19,200 shares during the period. Two Sigma Advisers LP increased its position in shares of HEICO by 3.7% in the third quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock worth $94,885,000 after purchasing an additional 13,100 shares during the period. TCW Group Inc. raised its stake 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 in the last quarter. Finally, Driehaus Capital Management LLC raised its stake in 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 purchasing an additional 77,067 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Stock Down 1.2 %

Shares of HEICO stock traded down $3.25 on Monday, reaching $270.12. 13,755 shares of the company were exchanged, compared to its average volume of 383,455. HEICO has a one year low of $169.70 and a one year high of $283.60. 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 50-day moving average of $262.68 and a 200 day moving average of $243.90. The company has a market capitalization of $37.44 billion, a price-to-earnings ratio of 80.50, a PEG ratio of 3.32 and a beta of 1.23.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Bank of America increased their price target on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Benchmark reiterated a “buy” rating and issued a $245.00 price objective on shares of HEICO in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Morgan Stanley lifted their price target on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Royal Bank of Canada upped their price target on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $270.70.

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.