Thoroughbred Financial Services LLC Sells 3,428 Shares of Heico Corporation $HEI

Thoroughbred Financial Services LLC lowered its position in shares of Heico Corporation (NYSE:HEI) by 35.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,214 shares of the aerospace company’s stock after selling 3,428 shares during the period. Thoroughbred Financial Services LLC’s holdings in Heico were worth $2,038,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HEI. Avalon Capital Management raised its holdings in shares of Heico by 0.9% during the 2nd quarter. Avalon Capital Management now owns 3,895 shares of the aerospace company’s stock valued at $1,278,000 after buying an additional 33 shares in the last quarter. Ridgewood Investments LLC grew its position in Heico by 36.5% during the second quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 35 shares during the last quarter. Barrett & Company Inc. raised its stake in shares of Heico by 1.6% during the second quarter. Barrett & Company Inc. now owns 3,216 shares of the aerospace company’s stock worth $1,055,000 after acquiring an additional 50 shares in the last quarter. Emerald Advisers LLC lifted its holdings in shares of Heico by 1.9% in the 2nd quarter. Emerald Advisers LLC now owns 3,000 shares of the aerospace company’s stock worth $984,000 after acquiring an additional 56 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its holdings in shares of Heico by 1.4% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 4,230 shares of the aerospace company’s stock valued at $1,387,000 after purchasing an additional 60 shares during 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 Alan Schriesheim purchased 672 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were bought at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the completion of the transaction, the director directly owned 672 shares of the company’s stock, valued at $163,920.96. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Julie Neitzel purchased 676 shares of Heico stock in a transaction that occurred on Friday, October 10th. The stock was purchased at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the purchase, the director owned 676 shares of the company’s stock, valued at $164,896.68. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 4,448 shares of company stock valued at $1,086,933 over the last ninety days. 9.55% of the stock is owned by corporate insiders.

Heico Price Performance

Shares of Heico stock opened at $313.07 on Friday. The business has a 50 day moving average of $317.34 and a 200 day moving average of $309.10. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The company has a market cap of $43.58 billion, a PE ratio of 68.51, a P/E/G ratio of 3.64 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI) last issued its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm earned $0.97 EPS. The company’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Heico Corporation will post 4.2 earnings per share for the current year.

Analysts Set New Price Targets

HEI has been the subject of several analyst reports. Barclays upped their price target on shares of Heico from $280.00 to $300.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 2nd. Bank of America increased their target price on Heico from $355.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Heico in a research note on Monday, August 18th. Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Finally, Royal Bank Of Canada set a $350.00 target price on shares of Heico in a report on Wednesday, August 27th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Heico currently has a consensus rating of “Moderate Buy” and a consensus price target of $346.09.

Heico 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.