Stevens Capital Management LP Makes New Investment in Heico Corp (NYSE:HEI)

Stevens Capital Management LP acquired a new stake in shares of Heico Corp (NYSE:HEI) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,286 shares of the aerospace company’s stock, valued at approximately $2,982,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its stake in shares of Heico by 751.2% during the fourth quarter. Macquarie Group Ltd. now owns 349 shares of the aerospace company’s stock valued at $27,000 after purchasing an additional 308 shares in the last quarter. Brand Asset Management Group Inc. bought a new position in shares of Heico during the first quarter valued at approximately $124,000. Icon Wealth Partners LLC bought a new position in shares of Heico during the first quarter valued at approximately $96,000. Ibex Investors LLC bought a new position in shares of Heico during the second quarter valued at approximately $229,000. Finally, Nwam LLC bought a new position in shares of Heico during the second quarter valued at approximately $242,000. Hedge funds and other institutional investors own 25.57% of the company’s stock.

A number of research firms have recently issued reports on HEI. ValuEngine downgraded shares of Heico from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Canaccord Genuity increased their price objective on shares of Heico from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. Zacks Investment Research upgraded shares of Heico from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Friday, May 24th. Bank of America downgraded shares of Heico from a “buy” rating to an “underperform” rating and set a $105.00 price objective on the stock. in a research note on Thursday, July 11th. They noted that the move was a valuation call. Finally, Credit Suisse Group increased their price objective on shares of Heico from $127.00 to $133.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Heico presently has an average rating of “Buy” and a consensus target price of $118.00.



In related news, CAO Steven M. Walker sold 4,200 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $103.00, for a total transaction of $432,600.00. Following the completion of the sale, the chief accounting officer now owns 2,062 shares of the company’s stock, valued at $212,386. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark H. Hildebrandt bought 963 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were purchased at an average cost of $103.34 per share, with a total value of $99,516.42. The disclosure for this purchase can be found here. Insiders have sold 167,473 shares of company stock valued at $16,698,107 in the last three months. 9.23% of the stock is currently owned by corporate insiders.

NYSE:HEI traded up $1.04 during midday trading on Thursday, reaching $139.62. 1,895 shares of the stock traded hands, compared to its average volume of 397,993. Heico Corp has a 12-month low of $71.47 and a 12-month high of $144.37. The firm has a 50-day moving average price of $137.05. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.20 and a quick ratio of 1.56. The company has a market cap of $18.74 billion, a PE ratio of 77.50, a PEG ratio of 4.52 and a beta of 0.68.

Heico (NYSE:HEI) last posted its earnings results on Tuesday, May 28th. The aerospace company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.11. Heico had a net margin of 15.36% and a return on equity of 18.31%. The company had revenue of $515.60 million during the quarter, compared to analysts’ expectations of $480.17 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. Heico’s revenue for the quarter was up 19.7% compared to the same quarter last year. Equities analysts forecast that Heico Corp will post 2.24 EPS for the current 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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

Further Reading: Discount Rate

Institutional Ownership by Quarter for Heico (NYSE:HEI)

Receive News & Ratings for Heico Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Heico and related companies with MarketBeat.com's FREE daily email newsletter.