Ovata Capital Management Ltd Acquires New Position in Heico Corporation $HEI

Ovata Capital Management Ltd acquired a new stake in shares of Heico Corporation (NYSE:HEI) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,000 shares of the aerospace company’s stock, valued at approximately $1,640,000. Heico makes up about 0.4% of Ovata Capital Management Ltd’s investment portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC grew its position in Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. Costello Asset Management INC purchased a new position in Heico during the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd grew its position in Heico by 17,800.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 178 shares in the last quarter. Banque Transatlantique SA grew its position in Heico by 36.8% during the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 68 shares in the last quarter. Finally, Valley National Advisers Inc. purchased a new position in Heico during the second quarter valued at approximately $114,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HEI. UBS Group boosted their target price on shares of Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Robert W. Baird boosted their target price on shares of Heico from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Barclays boosted their target price on shares of Heico from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Tuesday, September 2nd. Stifel Nicolaus set a $360.00 target price on shares of Heico in a research report on Tuesday, August 26th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research report on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Heico has an average rating of “Moderate Buy” and a consensus target price of $346.09.

Heico Price Performance

NYSE HEI opened at $318.44 on Thursday. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $316.61 and a 200 day simple moving average of $305.29. The company has a market cap of $44.33 billion, a P/E ratio of 69.68, a P/E/G ratio of 3.64 and a beta of 1.08. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92.

Heico (NYSE:HEI) last posted its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.14. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. Heico had a net margin of 14.96% and a return on equity of 16.29%. Heico’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. On average, sell-side analysts predict that Heico Corporation will post 4.2 EPS for the current year.

Insider Buying and Selling at Heico

In other news, Director Carol F. Fine acquired 672 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, with a total value of $163,920.96. Following the acquisition, the director owned 672 shares in the company, valued at approximately $163,920.96. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie Neitzel purchased 676 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was bought at an average price of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the transaction, the director directly owned 676 shares in the company, valued at approximately $164,896.68. The trade was a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 4,448 shares of company stock worth $1,086,933 in the last quarter. 9.55% of the stock is owned by corporate insiders.

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.