TCW Group Inc. Increases Position in Heico Corp (NYSE:HEI)
TCW Group Inc. boosted its position in Heico Corp (NYSE:HEI) by 4.7% during the first quarter, HoldingsChannel.com reports. The fund owned 81,422 shares of the aerospace company’s stock after buying an additional 3,633 shares during the quarter. TCW Group Inc.’s holdings in Heico were worth $7,725,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in HEI. Private Advisor Group LLC bought a new position in Heico in the first quarter worth $446,000. Federated Investors Inc. PA raised its holdings in Heico by 7.8% in the first quarter. Federated Investors Inc. PA now owns 829,546 shares of the aerospace company’s stock worth $78,699,000 after purchasing an additional 59,748 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Heico by 381.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,263 shares of the aerospace company’s stock worth $310,000 after purchasing an additional 2,585 shares in the last quarter. CIBC World Markets Inc. bought a new position in Heico in the first quarter worth $1,059,000. Finally, Icon Wealth Partners LLC bought a new position in Heico in the first quarter worth $96,000. Institutional investors and hedge funds own 25.07% of the company’s stock.
In related news, Director Mark H. Hildebrandt bought 963 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were purchased at an average cost of $103.34 per share, with a total value of $99,516.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Laurans A. Mendelson sold 100,000 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $98.17, for a total value of $9,817,000.00. Following the completion of the sale, the chief executive officer now directly owns 927,445 shares in the company, valued at $91,047,275.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,000 shares of company stock worth $11,702,080. Insiders own 9.23% of the company’s stock.
Shares of NYSE HEI traded down $0.17 during trading on Wednesday, reaching $126.78. The company had a trading volume of 5,444 shares, compared to its average volume of 385,233. Heico Corp has a 12-month low of $71.24 and a 12-month high of $129.64. The stock has a market cap of $17.13 billion, a P/E ratio of 70.07, a P/E/G ratio of 4.76 and a beta of 0.66. The company has a current ratio of 3.20, a quick ratio of 1.56 and a debt-to-equity ratio of 0.33.
Heico (NYSE:HEI) last released its earnings results on Tuesday, May 28th. The aerospace company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.11. Heico had a return on equity of 18.31% and a net margin of 15.36%. The firm had revenue of $515.60 million for the quarter, compared to analysts’ expectations of $480.17 million. During the same period in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. As a group, analysts forecast that Heico Corp will post 2.22 earnings per share for the current fiscal year.
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HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.
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