Short Interest in HEICO Co. (NYSE:HEI) Drops By 9.4%

HEICO Co. (NYSE:HEI) was the recipient of a large decrease in short interest during the month of September. As of September 15th, there was short interest totalling 1,920,000 shares, a decrease of 9.4% from the August 31st total of 2,120,000 shares. Based on an average daily trading volume, of 392,600 shares, the days-to-cover ratio is currently 4.9 days. Approximately 4.6% of the shares of the stock are short sold.

Insider Buying and Selling at HEICO

In other news, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the sale, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Frank J. Schwitter acquired 475 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the transaction, the director now directly owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of the firm’s 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 completion of the transaction, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,374 shares of company stock worth $15,061,997. 8.10% of the stock is owned by insiders.

Institutional Investors Weigh In On HEICO

Large investors have recently modified their holdings of the stock. Capital World Investors boosted its position in shares of HEICO by 10.5% in the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after buying an additional 311,304 shares during the period. AGF Management Ltd. boosted its position in shares of HEICO by 61.7% in the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after buying an additional 362,625 shares during the period. EULAV Asset Management boosted its position in shares of HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares during the period. TCW Group Inc. boosted its position in shares of HEICO by 3.0% in the second quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after buying an additional 5,779 shares during the period. Finally, Driehaus Capital Management LLC boosted its position in shares of HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after buying an additional 77,067 shares during the period. 27.12% of the stock is owned by institutional investors.

HEICO Stock Performance

Shares of NYSE HEI traded down $1.94 during midday trading on Friday, hitting $259.32. 446,818 shares of the company’s stock were exchanged, compared to its average volume of 381,850. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The stock’s 50 day moving average price is $246.33 and its 200-day moving average price is $223.51. The firm has a market cap of $35.91 billion, a P/E ratio of 81.55, a PEG ratio of 3.79 and a beta of 1.22. HEICO has a twelve month low of $155.42 and a twelve month high of $269.38.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The business had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. During the same period in the previous year, the firm posted $0.77 earnings per share. The business’s revenue was up 37.3% on a year-over-year basis. Equities research analysts anticipate that HEICO will post 3.64 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada lifted their price target on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Bank of America lifted their price target on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Barclays started coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price for the company. Finally, Benchmark restated a “buy” rating and issued a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $263.56.

HEICO Company 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.