Nine Chapters Capital Management LLC Invests $323,000 in Heico Corporation (HEI)
Nine Chapters Capital Management LLC acquired a new stake in Heico Corporation (NYSE:HEI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,600 shares of the aerospace company’s stock, valued at approximately $323,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Ironwood Investment Counsel LLC bought a new position in shares of Heico Corporation in the third quarter valued at about $201,000. Parametrica Management Ltd bought a new position in shares of Heico Corporation in the third quarter valued at about $350,000. Copeland Capital Management LLC raised its position in shares of Heico Corporation by 0.3% in the third quarter. Copeland Capital Management LLC now owns 384,041 shares of the aerospace company’s stock valued at $34,491,000 after purchasing an additional 1,108 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of Heico Corporation in the third quarter valued at about $343,000. Finally, Steinberg Global Asset Management increased its position in Heico Corporation by 4.2% during the third quarter. Steinberg Global Asset Management now owns 20,432 shares of the aerospace company’s stock worth $1,835,000 after acquiring an additional 832 shares during the period. 26.14% of the stock is currently owned by institutional investors.
In related news, Director Mark H. Hildebrandt acquired 1,316 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were bought at an average cost of $76.13 per share, for a total transaction of $100,187.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $76.28, for a total transaction of $1,525,600.00. Following the completion of the transaction, the vice president now owns 31,110 shares in the company, valued at $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by corporate insiders.
Heico Corporation (NYSE:HEI) last announced its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $390.55 million. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share.
A number of research firms recently commented on HEI. Canaccord Genuity raised their price target on shares of Heico Corporation from $92.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Zacks Investment Research lowered shares of Heico Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday. Deutsche Bank AG lowered shares of Heico Corporation from a “buy” rating to a “hold” rating and raised their price target for the stock from $80.00 to $86.00 in a research report on Wednesday, August 16th. Finally, Seaport Global Securities began coverage on shares of Heico Corporation in a research report on Tuesday, September 12th. They set a “neutral” rating and a $90.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $91.67.
About Heico Corporation
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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