Barrett & Company Inc. Increases Stake in Heico Corporation $HEI

Barrett & Company Inc. raised its position in Heico Corporation (NYSE:HEI) by 1.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,216 shares of the aerospace company’s stock after purchasing an additional 50 shares during the period. Barrett & Company Inc.’s holdings in Heico were worth $1,055,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HEI. Congress Asset Management Co. lifted its holdings in Heico by 366.0% in the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after purchasing an additional 242,264 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in shares of Heico in the 1st quarter worth $40,949,000. American Century Companies Inc. increased its stake in shares of Heico by 11.3% in the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock worth $83,528,000 after acquiring an additional 31,834 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Heico in the 1st quarter worth $7,612,000. Finally, PDT Partners LLC increased its stake in shares of Heico by 781.9% in the 1st quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company’s stock worth $6,834,000 after acquiring an additional 22,676 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Heico Stock Performance

NYSE HEI opened at $320.72 on Friday. The company has a market cap of $44.65 billion, a P/E ratio of 70.18, a P/E/G ratio of 3.73 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. The stock has a 50-day moving average of $317.70 and a two-hundred day moving average of $295.39. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92.

Heico (NYSE:HEI) last released its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.14. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.Heico’s revenue was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.97 EPS. As a group, analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HEI. UBS Group raised their target price on Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 27th. Zacks Research raised Heico to a “hold” rating in a research note on Monday, August 11th. Stifel Nicolaus set a $360.00 target price on Heico in a research note on Tuesday, August 26th. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $346.09.

Insiders Place Their Bets

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the transaction, the chairman directly owned 1,253,127 shares of the company’s stock, valued at $400,311,420.15. The trade was a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 9.55% of the stock is currently owned by corporate insiders.

About Heico

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.