PFG Advisors Grows Holdings in Heico Corporation $HEI

PFG Advisors grew its position in Heico Corporation (NYSE:HEI) by 22.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,051 shares of the aerospace company’s stock after acquiring an additional 2,723 shares during the period. PFG Advisors’ holdings in Heico were worth $4,937,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Congress Asset Management Co. increased its stake in shares of Heico by 366.0% in the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after purchasing an additional 242,264 shares in the last quarter. Mackenzie Financial Corp acquired a new stake in Heico in the first quarter valued at approximately $40,949,000. American Century Companies Inc. increased its position in shares of Heico by 11.3% in the first quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock valued at $83,528,000 after buying an additional 31,834 shares in the last quarter. PDT Partners LLC raised its stake in shares of Heico by 781.9% during the 1st quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company’s stock worth $6,834,000 after buying an additional 22,676 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of Heico during the 1st quarter valued at approximately $5,518,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Heico

In related news, Director Mark H. Hildebrandt acquired 400 shares of Heico stock in a transaction that occurred on Tuesday, October 21st. The shares were purchased at an average price of $248.76 per share, for a total transaction of $99,504.00. Following the completion of the transaction, the director owned 1,181 shares in the company, valued at $293,785.56. This represents a 51.22% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Julie Neitzel bought 676 shares of the company’s stock in a transaction on Friday, October 10th. The stock was bought at an average price of $243.93 per share, with a total value of $164,896.68. Following the completion of the acquisition, the director owned 676 shares in the company, valued at $164,896.68. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have acquired 4,448 shares of company stock valued at $1,086,933. 9.55% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Truist Financial boosted their price target on shares of Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. Robert W. Baird upped their price target 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. Jefferies Financial Group reaffirmed a “buy” rating on shares of Heico in a research note on Monday, August 18th. Morgan Stanley lifted their price objective on Heico from $305.00 to $330.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Finally, Wall Street Zen raised Heico from a “hold” rating to a “buy” rating in a report on Saturday, August 30th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $346.09.

Heico Stock Performance

HEI opened at $323.33 on Friday. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $338.92. The firm has a market capitalization of $45.01 billion, a PE ratio of 70.75, a PEG ratio of 3.64 and a beta of 1.08. 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 firm’s 50-day moving average price is $316.83 and its 200 day moving average price is $306.42.

Heico (NYSE:HEI) last released its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts expect that Heico Corporation will post 4.2 EPS for the current fiscal year.

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.