Strategic Planning Group LLC Acquires 2,530 Shares of Heico Corporation $HEI

Strategic Planning Group LLC boosted its stake in shares of Heico Corporation (NYSE:HEI) by 6.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 42,377 shares of the aerospace company’s stock after purchasing an additional 2,530 shares during the quarter. Heico comprises approximately 1.3% of Strategic Planning Group LLC’s holdings, making the stock its 27th biggest position. Strategic Planning Group LLC’s holdings in Heico were worth $12,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Maridea Wealth Management LLC purchased a new position in shares of Heico during the 2nd quarter valued at approximately $1,128,000. Silvant Capital Management LLC acquired a new position in shares of Heico in the 2nd quarter valued at $9,385,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in Heico during the second quarter worth $1,262,000. Cypress Capital Management LLC WY purchased a new stake in Heico during the second quarter worth $1,315,000. Finally, Safeguard Investment Advisory Group LLC acquired a new stake in Heico during the second quarter valued at $2,330,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Stock Up 0.6%

HEI stock opened at $300.15 on Friday. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $376.86. The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51. The firm has a 50-day simple moving average of $317.85 and a 200-day simple moving average of $321.81. The stock has a market capitalization of $41.95 billion, a P/E ratio of 49.94, a P/E/G ratio of 2.50 and a beta of 1.09.

Heico (NYSE:HEI) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The firm had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same period last year, the company posted $1.26 EPS. Heico’s quarterly revenue was up 23.1% compared to the same quarter last year. Equities analysts forecast that Heico Corporation will post 6.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HEI. The Goldman Sachs Group reiterated a “buy” rating and issued a $491.00 price objective on shares of Heico in a research report on Monday, August 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Heico in a research report on Wednesday, October 14th. Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Guggenheim started coverage on Heico in a research report on Monday, September 14th. They issued a “neutral” rating for the company. Finally, Citigroup increased their target price on Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Heico presently has an average rating of “Moderate Buy” and an average target price of $385.67.

Insider Activity

In other news, Director Adolfo Henriques acquired 795 shares of Heico stock in a transaction that occurred on Thursday, October 8th. The stock was purchased at an average cost of $220.30 per share, with a total value of $175,138.50. Following the purchase, the director owned 24,864 shares in the company, valued at $5,477,539.20. This trade represents a 3.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nanda Kumar Cheruvatath bought 795 shares of the stock in a transaction on Thursday, October 8th. The shares were acquired at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the purchase, the director owned 4,877 shares in the company, valued at $1,074,403.10. The trade was a 19.48% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 5,362 shares of company stock valued at $1,225,430 in the last three months. Company insiders own 4.86% of the company’s stock.

Heico Profile

HEICO Corporation (NYSE: HEI) is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.