Acadian Asset Management LLC Acquires Shares of 5,949 HEICO Co. (NYSE:HEI)

Acadian Asset Management LLC acquired a new stake in shares of HEICO Co. (NYSE:HEI) during the 2nd quarter, HoldingsChannel reports. The firm acquired 5,949 shares of the aerospace company’s stock, valued at approximately $1,330,000.

Other large investors have also bought and sold shares of the company. Center for Financial Planning Inc. bought a new position in HEICO during the 2nd quarter valued at $52,000. American National Bank purchased a new stake in shares of HEICO during the 2nd quarter valued at $66,000. Strategic Financial Concepts LLC purchased a new stake in shares of HEICO during the 2nd quarter valued at $67,000. FSC Wealth Advisors LLC purchased a new stake in shares of HEICO during the 2nd quarter valued at $73,000. Finally, Hantz Financial Services Inc. purchased a new stake in shares of HEICO during the 2nd quarter valued at $100,000. 27.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HEI has been the subject of several research analyst reports. Barclays initiated coverage on HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 target price for the company. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $178.00 to $225.00 in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft raised their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Benchmark reaffirmed a “buy” rating and set a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Finally, Bank of America lifted their price objective on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HEICO presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.67.

HEICO Stock Up 1.2 %

HEI stock opened at $259.35 on Monday. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $35.92 billion, a PE ratio of 81.56, a PEG ratio of 3.61 and a beta of 1.22. HEICO Co. has a twelve month low of $155.42 and a twelve month high of $260.84. The stock has a 50-day simple moving average of $238.93 and a two-hundred day simple moving average of $218.30.

HEICO (NYSE:HEI) last posted its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.77 EPS. On average, equities analysts predict that HEICO Co. will post 3.63 EPS for the current fiscal year.

HEICO Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a dividend of $0.11 per share. This represents a yield of 0.1%. The ex-dividend date was Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s payout ratio is presently 6.92%.

Insider Buying and Selling at HEICO

In related news, Director Frank J. Schwitter bought 475 shares of HEICO stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average price of $252.26 per share, with a total value of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other HEICO news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Insiders sold 85,206 shares of company stock valued at $15,571,927 in the last quarter. 8.10% 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.