Fortis Group Advisors LLC Buys New Holdings in HEICO Co. (NYSE:HEI)

Fortis Group Advisors LLC bought a new stake in HEICO Co. (NYSE:HEI) in the 3rd quarter, Holdings Channel.com reports. The firm bought 889 shares of the aerospace company’s stock, valued at approximately $233,000.

Other hedge funds have also bought and sold shares of the company. Andra AP fonden acquired a new stake in HEICO in the 2nd quarter valued at about $45,000. Center for Financial Planning Inc. bought a new stake in shares of HEICO during the second quarter worth approximately $52,000. American National Bank bought a new stake in shares of HEICO during the second quarter worth approximately $66,000. Strategic Financial Concepts LLC bought a new stake in shares of HEICO during the second quarter worth approximately $67,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of HEICO during the second quarter worth approximately $73,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HEI. UBS Group began coverage on HEICO in a report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price objective for the company. Barclays began coverage on HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective for the company. Bank of America boosted their price objective on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Morgan Stanley boosted their price target on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada boosted their price target on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, HEICO has an average rating of “Moderate Buy” and an average target price of $270.70.

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the transaction, the insider now directly owns 148,891 shares in the company, valued at approximately $27,707,126.19. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Alan Schriesheim sold 332 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $201.63, for a total transaction of $66,941.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the transaction, the insider now owns 148,891 shares of the company’s stock, valued at $27,707,126.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 2,650 shares of company stock worth $691,718. Corporate insiders own 8.10% of the company’s stock.

HEICO Stock Down 2.2 %

Shares of HEI opened at $255.44 on Wednesday. HEICO Co. has a one year low of $155.42 and a one year high of $269.38. The company has a market cap of $35.38 billion, a P/E ratio of 80.33, a P/E/G ratio of 3.69 and a beta of 1.22. 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 firm has a 50 day simple moving average of $255.69 and a two-hundred day simple moving average of $231.64.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. 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 business earned $0.77 earnings per share. The company’s revenue was up 37.3% on a year-over-year basis. Research analysts forecast that HEICO Co. will post 3.66 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.