MQS Management LLC Purchases New Stake in HEICO Co. (NYSE:HEI)

MQS Management LLC acquired a new position in HEICO Co. (NYSE:HEI) during the 3rd quarter, HoldingsChannel reports. The fund acquired 1,087 shares of the aerospace company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AGF Management Ltd. raised its holdings in shares of HEICO by 61.7% in the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after purchasing an additional 362,625 shares during the period. EULAV Asset Management increased its position in HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares during the last quarter. TCW Group Inc. lifted its position in shares of HEICO by 3.0% during the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after buying an additional 5,779 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after acquiring an additional 77,067 shares during the period. Finally, Vantage Investment Partners LLC increased its holdings in HEICO by 1.4% in the 3rd quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after acquiring an additional 1,717 shares during the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Stock Up 1.1 %

HEI stock opened at $277.04 on Friday. The company’s 50 day moving average is $259.22 and its 200 day moving average is $238.57. The stock has a market cap of $38.40 billion, a price-to-earnings ratio of 81.24, a price-to-earnings-growth ratio of 3.20 and a beta of 1.23. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. HEICO Co. has a 1-year low of $167.56 and a 1-year high of $281.15.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same quarter in the prior year, the firm earned $0.77 EPS. The business’s revenue for the quarter was up 37.3% compared to the same quarter last year. Sell-side analysts predict that HEICO Co. will post 3.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Laurans A. Mendelson bought 725 shares of the business’s stock in a transaction on Friday, October 18th. The stock was acquired at an average price of $262.94 per share, with a total value of $190,631.50. Following the completion of the purchase, the chief executive officer now directly owns 929,984 shares in the company, valued at $244,529,992.96. This represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter purchased 475 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. This represents a 37.85 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,650 shares of company stock worth $691,718. 8.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on HEI shares. Truist Financial increased their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Royal Bank of Canada raised their price objective on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Robert W. Baird boosted their target price on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $245.00 price target on shares of HEICO in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $270.70.

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.