Heico Corporation $HEI Stock: Riverbridge Partners LLC Reduces Stake

Riverbridge Partners LLC decreased its holdings in shares of Heico Corporation (NYSE:HEI) by 15.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,929 shares of the aerospace company’s stock after selling 57,284 shares during the quarter. Heico accounts for approximately 2.8% of Riverbridge Partners LLC’s portfolio, making the stock its 7th largest position. Riverbridge Partners LLC owned about 0.22% of Heico worth $92,145,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HEI. Weitz Investment Management Inc. purchased a new stake in Heico in the second quarter valued at approximately $52,737,000. Bank of New York Mellon Corp purchased a new position in Heico in the 2nd quarter worth approximately $54,386,000. Freestone Grove Partners LP purchased a new position in Heico in the 2nd quarter worth approximately $50,276,000. Liontrust Investment Partners LLP bought a new position in shares of Heico in the 2nd quarter worth $29,744,000. Finally, Bath Savings Trust Co increased its holdings in shares of Heico by 5.4% in the 3rd quarter. Bath Savings Trust Co now owns 49,570 shares of the aerospace company’s stock worth $15,029,000 after buying an additional 2,542 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

Insider Activity at Heico

In other Heico news, Director Adolfo Henriques purchased 795 shares of the stock in a transaction on Thursday, October 8th. The stock was acquired at an average cost of $220.30 per share, with a total value of $175,138.50. Following the completion of the purchase, the director directly owned 24,864 shares of the company’s stock, valued at approximately $5,477,539.20. This trade represents a 3.30% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas M. Culligan purchased 795 shares of the business’s stock in a transaction on Thursday, October 8th. The shares were acquired at an average price of $220.30 per share, with a total value of $175,138.50. Following the completion of the transaction, the director owned 11,825 shares of the company’s stock, valued at approximately $2,605,047.50. This trade represents a 7.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 5,362 shares of company stock worth $1,225,430 in the last 90 days. Corporate insiders own 4.86% of the company’s stock.

Heico Stock Up 0.7%

Shares of NYSE HEI opened at $345.24 on Wednesday. Heico Corporation has a one year low of $256.11 and a one year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The firm’s 50 day simple moving average is $311.19 and its two-hundred day simple moving average is $319.54. The stock has a market capitalization of $48.25 billion, a P/E ratio of 57.45, a PEG ratio of 2.52 and a beta of 1.09.

Heico (NYSE:HEI) last posted its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business’s revenue was up 23.1% compared to the same quarter last year. During the same period last year, the firm posted $1.26 earnings per share. As a group, analysts expect that Heico Corporation will post 6.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $491.00 price objective on shares of Heico in a report on Monday, August 31st. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. TD Cowen reduced their target price on Heico from $350.00 to $330.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Melius Research set a $350.00 price target on Heico and gave the company a “hold” rating in a research report on Monday, September 14th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heico in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $387.33.

Heico Company Profile

HEICO Corporation is an aerospace and electronics company that develops, manufactures and services products for commercial aviation, defense, space and other markets. Its Flight Support Group supplies replacement parts for aircraft and provides repair and overhaul services for aircraft components, while its Electronic Technologies Group makes specialized electronic, electro-optical and other technology products. The company’s products and services support airlines, aircraft operators, original equipment manufacturers, government agencies and defense contractors.