Assenagon Asset Management S.A. Buys Shares of 17,218 HEICO Co. (NYSE:HEI)

Assenagon Asset Management S.A. bought a new stake in HEICO Co. (NYSE:HEI) during the 3rd quarter, HoldingsChannel reports. The institutional investor bought 17,218 shares of the aerospace company’s stock, valued at approximately $4,502,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Andra AP fonden purchased a new position in HEICO in the second quarter valued at approximately $45,000. Center for Financial Planning Inc. purchased a new position in HEICO in the second quarter valued at approximately $52,000. American National Bank purchased a new position in HEICO in the second quarter valued at approximately $66,000. FSC Wealth Advisors LLC purchased a new position in HEICO in the second quarter valued at approximately $73,000. Finally, Hantz Financial Services Inc. purchased a new position in HEICO in the second quarter valued at approximately $100,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Trading Up 0.1 %

HEICO stock opened at $248.94 on Wednesday. The stock has a market cap of $34.50 billion, a PE ratio of 73.00, a P/E/G ratio of 3.61 and a beta of 1.22. The stock has a 50-day moving average price of $257.39 and a 200 day moving average price of $234.28. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $269.38. 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 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 firm had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same period in the previous year, the company posted $0.77 EPS. HEICO’s revenue for the quarter was up 37.3% on a year-over-year basis. Equities research analysts predict that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HEI has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Royal Bank of Canada lifted their price objective on shares of HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. UBS Group started coverage on shares of HEICO in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective on the stock. Robert W. Baird lifted their price objective on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Finally, Truist Financial lifted their price objective on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

Insider Activity at HEICO

In other news, insider Victor H. Mendelson purchased 726 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, with a total value of $190,894.44. Following the transaction, the insider now owns 1,234,950 shares in the company, valued at approximately $324,717,753. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Victor H. Mendelson acquired 726 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the acquisition, the insider now directly owns 1,234,950 shares in the company, valued at $324,717,753. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $66,941.16. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 2,650 shares of company stock valued at $691,718. Corporate insiders own 8.10% of the company’s stock.

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.