Lodestar Private Asset Management LLC Sells 1,400 Shares of Heico Corporation $HEI

Lodestar Private Asset Management LLC reduced its stake in Heico Corporation (NYSE:HEI) by 50.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,350 shares of the aerospace company’s stock after selling 1,400 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in Heico were worth $443,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HEI. Ridgewood Investments LLC grew its position in shares of Heico by 36.5% during the 2nd quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock worth $43,000 after purchasing an additional 35 shares in the last quarter. Barrett & Company Inc. grew its position in shares of Heico by 1.6% during the 2nd quarter. Barrett & Company Inc. now owns 3,216 shares of the aerospace company’s stock worth $1,055,000 after purchasing an additional 50 shares in the last quarter. Moody Lynn & Lieberson LLC grew its position in shares of Heico by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 4,230 shares of the aerospace company’s stock worth $1,387,000 after purchasing an additional 60 shares in the last quarter. Banque Transatlantique SA grew its position in shares of Heico by 36.8% during the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock worth $62,000 after purchasing an additional 68 shares in the last quarter. Finally, Groupama Asset Managment grew its position in shares of Heico by 0.5% during the 1st quarter. Groupama Asset Managment now owns 14,438 shares of the aerospace company’s stock worth $3,841,000 after purchasing an additional 71 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

Insiders Place Their Bets

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

Heico Stock Performance

Shares of Heico stock opened at $307.29 on Monday. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $338.92. 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 firm has a market capitalization of $42.78 billion, a P/E ratio of 67.24, a P/E/G ratio of 3.60 and a beta of 1.08. The company’s 50 day moving average price is $316.89 and its two-hundred day moving average price is $297.56.

Heico (NYSE:HEI) last issued its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. On average, equities analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on HEI shares. Stifel Nicolaus set a $360.00 target price on shares of Heico in a research report on Tuesday, August 26th. Bank of America increased their price target on shares of Heico from $355.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Robert W. Baird increased their price target on shares of Heico from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Royal Bank Of Canada set a $350.00 price target on shares of Heico in a research report on Wednesday, August 27th. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Heico in a research report on Monday, August 18th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $346.09.

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.