Stratos Wealth Partners LTD. Acquires Shares of 12,267 Heico Corporation (HEI)
Stratos Wealth Partners LTD. acquired a new stake in Heico Corporation (NYSE:HEI) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,267 shares of the aerospace company’s stock, valued at approximately $1,102,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. Moody Lynn & Lieberson LLC bought a new position in shares of Heico Corporation in the third quarter valued at approximately $2,561,000. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Heico Corporation by 97.8% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 38,537 shares of the aerospace company’s stock valued at $3,461,000 after acquiring an additional 19,057 shares during the period. Concorde Asset Management LLC boosted its position in shares of Heico Corporation by 72.1% in the third quarter. Concorde Asset Management LLC now owns 17,585 shares of the aerospace company’s stock valued at $1,579,000 after acquiring an additional 7,366 shares during the period. Nine Chapters Capital Management LLC bought a new position in shares of Heico Corporation in the third quarter valued at approximately $323,000. Finally, Ironwood Investment Counsel LLC bought a new position in shares of Heico Corporation in the third quarter valued at approximately $201,000. Institutional investors own 25.92% of the company’s stock.
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A number of research firms have recently commented on HEI. Zacks Investment Research lowered shares of Heico Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Canaccord Genuity raised their target price on shares of Heico Corporation from $91.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. BidaskClub downgraded shares of Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Seaport Global Securities started coverage on shares of Heico Corporation in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 target price on the stock. Finally, Deutsche Bank AG downgraded shares of Heico Corporation from a “buy” rating to a “hold” rating and raised their target price for the company from $80.00 to $86.00 in a research note on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $91.67.
Shares of Heico Corporation (NYSE HEI) traded down $0.45 on Friday, reaching $89.48. 12,902 shares of the company were exchanged, compared to its average volume of 183,745. The stock has a market capitalization of $6,850.00, a P/E ratio of 44.14, a P/E/G ratio of 4.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.89 and a quick ratio of 1.39. Heico Corporation has a 1-year low of $59.91 and a 1-year high of $93.00.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $391.50 million for the quarter, compared to the consensus estimate of $390.55 million. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.62 earnings per share. research analysts anticipate that Heico Corporation will post 2.11 EPS for the current year.
In other Heico Corporation news, Director Mark H. Hildebrandt purchased 1,316 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were purchased at an average cost of $76.13 per share, with a total value of $100,187.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas S. Irwin sold 20,000 shares of Heico Corporation 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 transaction, the vice president now directly owns 31,110 shares in the company, valued at $2,373,070.80. The disclosure for this sale can be found here. Company insiders own 9.76% of the company’s stock.
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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