Short Interest in HEICO Co. (NYSE:HEI) Increases By 29.2%

HEICO Co. (NYSE:HEI) saw a significant increase in short interest in November. As of November 15th, there was short interest totalling 2,520,000 shares, an increase of 29.2% from the October 31st total of 1,950,000 shares. Based on an average trading volume of 403,500 shares, the days-to-cover ratio is currently 6.2 days. Approximately 6.0% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

HEI has been the topic of several recent analyst reports. Benchmark reaffirmed a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Truist Financial lifted their price objective on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America increased their target price on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft boosted their price target on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price objective on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, HEICO presently has a consensus rating of “Moderate Buy” and an average price target of $270.70.

Insider Activity at HEICO

In other HEICO news, CEO Laurans A. Mendelson acquired 725 shares of the company’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $262.94 per share, with a total value of $190,631.50. Following the completion of the acquisition, the chief executive officer now owns 929,984 shares in the company, valued at approximately $244,529,992.96. This trade represents 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 available through this link. Also, Director Frank J. Schwitter bought 475 shares of HEICO stock in a transaction dated Tuesday, September 3rd. The shares were 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 in the company, valued at approximately $436,409.80. This trade represents a 37.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,650 shares of company stock worth $691,718. 8.10% of the stock is owned by corporate insiders.

Institutional Trading of HEICO

Several institutional investors and hedge funds have recently bought and sold shares of HEI. Synovus Financial Corp grew its stake in shares of HEICO by 31.7% in the third quarter. Synovus Financial Corp now owns 1,975 shares of the aerospace company’s stock valued at $516,000 after buying an additional 475 shares in the last quarter. Tidal Investments LLC grew its position in HEICO by 7.9% in the 3rd quarter. Tidal Investments LLC now owns 1,557 shares of the aerospace company’s stock valued at $407,000 after acquiring an additional 114 shares in the last quarter. World Investment Advisors LLC purchased a new stake in HEICO during the third quarter worth about $315,000. Unigestion Holding SA acquired a new stake in shares of HEICO during the third quarter worth about $822,000. Finally, Coldstream Capital Management Inc. grew its holdings in shares of HEICO by 6.6% in the third quarter. Coldstream Capital Management Inc. now owns 1,719 shares of the aerospace company’s stock valued at $451,000 after purchasing an additional 106 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 %

HEICO stock traded down $4.24 during mid-day trading on Monday, hitting $269.13. The company’s stock had a trading volume of 225,564 shares, compared to its average volume of 384,382. HEICO has a 1 year low of $169.70 and a 1 year high of $283.60. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $37.30 billion, a PE ratio of 80.50, a price-to-earnings-growth ratio of 3.32 and a beta of 1.23. The stock’s fifty day moving average is $262.68 and its two-hundred day moving average is $243.90.

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.