Motley Fool Asset Management LLC Sells 6,094 Shares of Heico Corporation $HEI

Motley Fool Asset Management LLC reduced its stake in Heico Corporation (NYSE:HEI) by 77.3% during the 3rd quarter, Holdings Channel reports. The firm owned 1,790 shares of the aerospace company’s stock after selling 6,094 shares during the period. Motley Fool Asset Management LLC’s holdings in Heico were worth $543,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. NFSG Corp bought a new stake in Heico in the third quarter valued at about $31,000. Compass Wealth Management LLC acquired a new position in Heico in the third quarter valued at about $61,000. Osterweis Capital Management Inc. bought a new position in Heico during the second quarter worth about $81,000. Oslo Pensjonsforsikring AS bought a new position in Heico during the first quarter worth about $100,000. Finally, Parvin Asset Management LLC bought a new position in Heico during the second quarter worth about $145,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HEI shares. Jefferies Financial Group set a $430.00 price objective on shares of Heico and gave the company a “buy” rating in a report on Wednesday, August 26th. Truist Financial boosted their price target on shares of Heico from $397.00 to $412.00 and gave the company a “buy” rating in a report on Tuesday, September 8th. Morgan Stanley set a $345.00 price objective on shares of Heico and gave the company an “equal weight” rating in a research report on Friday, October 16th. Guggenheim began coverage on Heico in a research note on Monday, September 14th. They set a “neutral” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Heico from $421.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $387.33.

Insider Transactions at Heico

In other news, Director Nanda Kumar Cheruvatath acquired 795 shares of Heico stock in a transaction dated Thursday, October 8th. The stock was bought at an average cost of $220.30 per share, with a total value of $175,138.50. Following the completion of the transaction, the director directly owned 4,877 shares of the company’s stock, valued at approximately $1,074,403.10. This represents a 19.48% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Schriesheim acquired 795 shares of the firm’s stock in a transaction that occurred on Thursday, October 8th. The shares were purchased at an average price of $220.30 per share, with a total value of $175,138.50. Following the completion of the acquisition, the director owned 1,202 shares of the company’s stock, valued at $264,800.60. This represents a 195.33% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have acquired 5,362 shares of company stock worth $1,225,430. 4.86% of the stock is currently owned by company insiders.

Heico Stock Performance

Shares of HEI opened at $326.62 on Friday. The firm has a market cap of $45.65 billion, a P/E ratio of 54.35, a PEG ratio of 2.60 and a beta of 1.09. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The firm’s 50 day moving average price is $312.85 and its two-hundred day moving average price is $320.16.

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

Heico Profile

HEICO Corporation (NYSE: HEI) is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.