Navellier & Associates Inc. Has $630,000 Position in HEICO Co. (NYSE:HEI)

Navellier & Associates Inc. cut its holdings in shares of HEICO Co. (NYSE:HEI) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,410 shares of the aerospace company’s stock after selling 760 shares during the period. Navellier & Associates Inc.’s holdings in HEICO were worth $630,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Moody Lynn & Lieberson LLC increased its stake in shares of HEICO by 1.8% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 4,186 shares of the aerospace company’s stock valued at $1,095,000 after acquiring an additional 73 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of HEICO by 0.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock worth $5,109,000 after buying an additional 80 shares during the last quarter. Avalon Capital Management boosted its holdings in shares of HEICO by 3.5% in the 2nd quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock worth $808,000 after buying an additional 123 shares during the last quarter. Verity Asset Management Inc. lifted its holdings in HEICO by 2.2% during the first quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock valued at $1,222,000 after purchasing an additional 139 shares during the last quarter. Finally, Calamos Wealth Management LLC lifted its holdings in HEICO by 14.7% during the second quarter. Calamos Wealth Management LLC now owns 1,560 shares of the aerospace company’s stock valued at $349,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Trading Down 0.0 %

HEI stock opened at $277.35 on Friday. HEICO Co. has a 1-year low of $167.56 and a 1-year high of $281.97. 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 company has a market capitalization of $38.44 billion, a price-to-earnings ratio of 81.33, a PEG ratio of 3.31 and a beta of 1.23. The business has a 50 day simple moving average of $261.18 and a two-hundred day simple moving average of $240.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HEI. Royal Bank of Canada upped their price target on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Robert W. Baird increased their price target on shares of HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Barclays assumed coverage on shares of HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target on the stock. Morgan Stanley increased their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, Truist Financial increased their price objective on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $270.70.

Insider Transactions at HEICO

In other news, insider Victor H. Mendelson acquired 726 shares of HEICO stock in a transaction dated Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the purchase, the insider now directly owns 1,234,950 shares in the company, valued at $324,717,753. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alan Schriesheim purchased 724 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $262.94 per share, with a total value of $190,368.56. Following the completion of the transaction, the director now owns 174,878 shares of the company’s stock, valued at $45,982,421.32. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,650 shares of company stock valued at $691,718. 8.10% of the stock is currently owned by corporate 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.