Rockefeller Capital Management L.P. Has $19.94 Million Position in Heico Corporation $HEI

Rockefeller Capital Management L.P. trimmed its stake in shares of Heico Corporation (NYSE:HEI) by 1.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,786 shares of the aerospace company’s stock after selling 811 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Heico were worth $19,938,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baker Avenue Asset Management LP bought a new stake in shares of Heico during the first quarter worth about $345,000. Global Trust Asset Management LLC raised its holdings in Heico by 145.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company’s stock valued at $1,512,000 after buying an additional 2,730 shares during the last quarter. Inspire Investing LLC acquired a new stake in Heico during the 2nd quarter worth approximately $910,000. Entropy Technologies LP bought a new stake in Heico during the 1st quarter worth approximately $1,796,000. Finally, Jefferies Financial Group Inc. acquired a new position in Heico in the 1st quarter valued at approximately $488,000. Institutional investors own 27.12% of the company’s stock.

Insider Buying and Selling at Heico

In other news, Director Adolfo Henriques bought 676 shares of the stock in a transaction dated Friday, October 10th. The shares were bought at an average cost of $243.93 per share, with a total value of $164,896.68. Following the completion of the transaction, the director directly owned 24,069 shares of the company’s stock, valued at $5,871,151.17. This trade represents a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie Neitzel bought 676 shares of the business’s stock in a transaction that occurred on Friday, October 10th. The stock was purchased at an average price of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the acquisition, the director owned 676 shares in the company, valued at $164,896.68. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 4,448 shares of company stock worth $1,086,933 in the last quarter. Company insiders own 9.55% of the company’s stock.

Analyst Ratings Changes

HEI has been the topic of a number of recent research reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a report on Wednesday, November 5th. Robert W. Baird upped their price target on Heico from $360.00 to $400.00 and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Stifel Nicolaus set a $360.00 price target 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, Truist Financial upped their target price on Heico from $352.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $346.09.

Heico Stock Down 0.8%

Heico stock opened at $311.25 on Tuesday. The company has a market capitalization of $43.33 billion, a PE ratio of 68.11, a PEG ratio of 3.64 and a beta of 1.08. Heico Corporation has a 12-month low of $216.68 and a 12-month high of $338.92. The firm’s fifty day moving average is $317.22 and its 200 day moving average is $309.89. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI) last posted its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping 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 business had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the company posted $0.97 earnings per share. The business’s quarterly revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts predict that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Profile

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.