Cynosure Group LLC Takes $358,000 Position in HEICO Co. (NYSE:HEI)

Cynosure Group LLC purchased a new position in HEICO Co. (NYSE:HEI) in the third quarter, HoldingsChannel reports. The fund purchased 1,370 shares of the aerospace company’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also bought and sold shares of HEI. Brooklyn Investment Group bought a new position in shares of HEICO in the 3rd quarter worth approximately $128,000. Quantbot Technologies LP grew its stake in HEICO by 424.1% in the third quarter. Quantbot Technologies LP now owns 18,801 shares of the aerospace company’s stock worth $4,916,000 after purchasing an additional 15,214 shares during the period. Pekin Hardy Strauss Inc. bought a new position in HEICO in the third quarter worth $222,000. Centaurus Financial Inc. lifted its position in HEICO by 8.9% during the third quarter. Centaurus Financial Inc. now owns 731 shares of the aerospace company’s stock valued at $191,000 after buying an additional 60 shares during the period. Finally, MGB Wealth Management LLC boosted its holdings in shares of HEICO by 3.6% during the 3rd quarter. MGB Wealth Management LLC now owns 2,900 shares of the aerospace company’s stock valued at $758,000 after buying an additional 100 shares in the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Trading Down 1.6 %

Shares of NYSE:HEI opened at $271.43 on Friday. HEICO Co. has a 1 year low of $167.56 and a 1 year high of $283.60. The stock’s fifty day moving average price is $262.39 and its 200-day moving average price is $242.81. The company has a market cap of $37.62 billion, a P/E ratio of 79.60, a PEG ratio of 3.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47.

HEICO (NYSE:HEI) last announced 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. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. During the same quarter last year, the firm posted $0.77 EPS. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. Sell-side analysts expect that HEICO Co. will post 3.65 earnings per share for the current year.

Insider Activity at HEICO

In other news, CEO Laurans A. Mendelson acquired 725 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the transaction, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. The trade was a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the transaction, the insider now directly owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. The trade was a 0.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,650 shares of company stock worth $691,718 over the last quarter. Company insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

HEI has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Robert W. Baird boosted their price target on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Barclays started coverage on HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective for the company. Royal Bank of Canada boosted their target price on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Morgan Stanley raised their price target on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

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.