HEICO Co. (NYSE:HEI) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its stake in shares of HEICO Co. (NYSE:HEI) by 1.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,540 shares of the aerospace company’s stock after selling 2,058 shares during the quarter. Lord Abbett & CO. LLC’s holdings in HEICO were worth $32,042,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. AGF Management Ltd. raised its holdings in HEICO by 61.7% during the second 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 in the last quarter. EULAV Asset Management raised its holdings in HEICO by 5.0% during the third quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after purchasing an additional 19,200 shares in the last quarter. Two Sigma Advisers LP raised its holdings in HEICO by 3.7% during the third quarter. Two Sigma Advisers LP now owns 362,878 shares of the aerospace company’s stock worth $94,885,000 after purchasing an additional 13,100 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in HEICO by 66.0% during the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares in the last quarter. Finally, Vantage Investment Partners LLC raised its holdings in HEICO by 1.4% during the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after purchasing an additional 1,717 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Barclays initiated coverage on shares of HEICO in a report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price on the stock. Robert W. Baird lifted 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. Morgan Stanley lifted their target price on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, HEICO currently has an average rating of “Moderate Buy” and a consensus target price of $270.70.

Insider Activity at HEICO

In related news, insider Victor H. Mendelson bought 726 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were bought at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the transaction, the insider now owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. This trade represents a 0.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alan Schriesheim bought 724 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,368.56. Following the completion of the transaction, the director now directly owns 174,878 shares in the company, valued at approximately $45,982,421.32. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,175 shares of company stock worth $571,895 in the last three months. Insiders own 8.10% of the company’s stock.

HEICO Stock Performance

NYSE:HEI opened at $256.89 on Monday. The firm’s fifty day moving average price is $262.56 and its 200 day moving average price is $247.21. HEICO Co. has a 1-year low of $169.70 and a 1-year high of $283.60. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The firm has a market cap of $35.60 billion, a price-to-earnings ratio of 75.33, a price-to-earnings-growth ratio of 3.14 and a beta of 1.24.

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.