HEICO Co. (NYSE:HEI) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP lifted its position in HEICO Co. (NYSE:HEI) by 424.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,801 shares of the aerospace company’s stock after acquiring an additional 15,214 shares during the period. Quantbot Technologies LP’s holdings in HEICO were worth $4,916,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AGF Management Ltd. increased its holdings in shares of HEICO by 61.7% in the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after purchasing an additional 362,625 shares during the period. Vantage Investment Partners LLC acquired a new position in HEICO in the 2nd quarter worth approximately $26,993,000. Driehaus Capital Management LLC raised its position in 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 buying an additional 77,067 shares during the last quarter. EULAV Asset Management boosted its holdings in shares of HEICO by 23.4% in the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after acquiring an additional 66,800 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of HEICO in the second quarter worth $67,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

HEICO Stock Performance

NYSE:HEI opened at $275.74 on Wednesday. The firm has a market capitalization of $38.22 billion, a price-to-earnings ratio of 80.86, a PEG ratio of 3.35 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. HEICO Co. has a 1-year low of $167.56 and a 1-year high of $283.60. The company’s 50-day moving average is $261.85 and its two-hundred day moving average is $242.18.

HEICO (NYSE:HEI) last announced its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Analysts forecast that HEICO Co. will post 3.65 EPS for the current year.

Wall Street Analyst Weigh In

HEI has been the topic of several recent research reports. Truist Financial upped their price target on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Barclays began coverage on HEICO in a report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target for the company. Benchmark reaffirmed a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Finally, Bank of America increased their target price on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, HEICO has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

Insiders Place Their Bets

In other HEICO news, CEO Laurans A. Mendelson bought 725 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the purchase, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Schriesheim sold 332 shares of the business’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $201.63, for a total value of $66,941.16. The disclosure for this sale can be found here. Insiders have purchased a total of 2,650 shares of company stock worth $691,718 in the last quarter. 8.10% of the stock is owned by company insiders.

HEICO Profile

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.