1,893 Shares in HEICO Co. (NYSE:HEI) Purchased by Seven Eight Capital LP

Seven Eight Capital LP acquired a new position in HEICO Co. (NYSE:HEI) during the 2nd quarter, HoldingsChannel reports. The fund acquired 1,893 shares of the aerospace company’s stock, valued at approximately $423,000.

Other large investors also recently bought and sold shares of the company. Marsico Capital Management LLC boosted its stake in shares of HEICO by 19.3% in the second quarter. Marsico Capital Management LLC now owns 114,236 shares of the aerospace company’s stock worth $25,544,000 after acquiring an additional 18,465 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of HEICO by 54.4% during the second quarter. Virtu Financial LLC now owns 8,411 shares of the aerospace company’s stock worth $1,881,000 after buying an additional 2,962 shares in the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of HEICO during the second quarter worth $218,000. AdvisorShares Investments LLC raised its position in shares of HEICO by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after buying an additional 2,244 shares during the last quarter. Finally, AGF Management Ltd. lifted its stake 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 in the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Frank J. Schwitter acquired 475 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other HEICO news, insider Eric A. Mendelson sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the transaction, the insider now owns 148,891 shares of the company’s stock, valued at approximately $27,707,126.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank J. Schwitter purchased 475 shares of the company’s 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 purchase, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. The disclosure for this purchase can be found here. Insiders have sold 82,374 shares of company stock worth $15,061,997 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Royal Bank of Canada lifted their price objective on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Truist Financial boosted their price objective on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. 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, Stifel Nicolaus boosted their price target on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, HEICO presently has an average rating of “Moderate Buy” and an average price target of $263.56.

HEICO Stock Performance

NYSE HEI opened at $265.81 on Monday. The stock has a market cap of $36.81 billion, a PE ratio of 83.59, a P/E/G 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 $265.98. The stock has a fifty day simple moving average of $242.58 and a 200-day simple moving average of $220.79. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

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

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.