Polar Asset Management Partners Inc. Buys 1,300 Shares of HEICO Co. (NYSE:HEI)

Polar Asset Management Partners Inc. increased its stake in HEICO Co. (NYSE:HEI) by 11.3% during the fourth quarter, HoldingsChannel reports. The firm owned 12,800 shares of the aerospace company’s stock after acquiring an additional 1,300 shares during the period. Polar Asset Management Partners Inc.’s holdings in HEICO were worth $3,043,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Fortress Financial Solutions LLC bought a new stake in shares of HEICO in the fourth quarter valued at $263,000. Hennion & Walsh Asset Management Inc. raised its stake in HEICO by 43.9% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,444 shares of the aerospace company’s stock valued at $1,057,000 after acquiring an additional 1,355 shares during the period. EntryPoint Capital LLC purchased a new stake in HEICO during the fourth quarter valued at about $220,000. Fisher Asset Management LLC boosted its position in HEICO by 19.1% during the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company’s stock worth $98,791,000 after purchasing an additional 66,583 shares during the period. Finally, E Fund Management Co. Ltd. purchased a new position in shares of HEICO in the fourth quarter worth about $428,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on HEI shares. Wells Fargo & Company began coverage on shares of HEICO in a report on Tuesday, April 15th. They issued an “equal weight” rating and a $244.00 price objective for the company. Truist Financial cut their price target on HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, William Blair reiterated an “outperform” rating on shares of HEICO in a research note on Tuesday, March 25th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, HEICO has a consensus rating of “Moderate Buy” and a consensus target price of $267.36.

HEICO Price Performance

HEICO stock opened at $278.89 on Friday. The stock has a market cap of $38.75 billion, a price-to-earnings ratio of 76.20, a PEG ratio of 3.10 and a beta of 1.05. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The business has a 50-day simple moving average of $256.99 and a 200 day simple moving average of $250.67. HEICO Co. has a 52 week low of $211.92 and a 52 week high of $283.60.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Wednesday, February 26th. The aerospace company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.93 by $0.27. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $983.10 million. HEICO had a return on equity of 14.63% and a net margin of 13.33%. On average, research analysts forecast that HEICO Co. will post 4.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the sale, the director now owns 157,197 shares in the company, valued at $37,659,685.29. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julie Neitzel sold 700 shares of HEICO stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the sale, the director now directly owns 418 shares of the company’s stock, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 9.55% of the company’s stock.

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.