Optas LLC Takes $251,000 Position in Heico Corporation $HEI

Optas LLC purchased a new stake in shares of Heico Corporation (NYSE:HEI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 766 shares of the aerospace company’s stock, valued at approximately $251,000.

Other institutional investors have also recently bought and sold shares of the company. Artemis Investment Management LLP acquired a new stake in Heico during the first quarter valued at $7,612,000. Baker Avenue Asset Management LP acquired a new stake in Heico during the first quarter valued at $345,000. Freedom Day Solutions LLC acquired a new stake in Heico during the first quarter valued at $2,653,000. Praxis Investment Management Inc. boosted its position in Heico by 24.9% during the first quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company’s stock valued at $2,359,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Global Trust Asset Management LLC boosted its position in Heico by 145.2% during the second quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company’s stock valued at $1,512,000 after purchasing an additional 2,730 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analyst Ratings Changes

HEI has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Heico in a research report on Saturday, September 27th. Zacks Research raised Heico to a “hold” rating in a research report on Monday, August 11th. Royal Bank Of Canada set a $350.00 price objective on Heico in a research report on Wednesday, August 27th. UBS Group boosted their price objective on Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $382.00 price objective (up previously 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 assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $346.09.

Insider Buying and Selling at Heico

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the sale, the chairman directly owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.55% of the company’s stock.

Heico Trading Down 1.5%

HEI stock opened at $315.87 on Friday. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92. The firm has a market cap of $43.97 billion, a P/E ratio of 69.12, a P/E/G ratio of 3.76 and a beta of 1.08. The business’s 50 day moving average is $317.25 and its 200-day moving average is $296.92. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58.

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

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.