Portland Investment Counsel Inc. Acquires Shares of 808 HEICO Co. (NYSE:HEI)

Portland Investment Counsel Inc. bought a new position in shares of HEICO Co. (NYSE:HEI) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 808 shares of the aerospace company’s stock, valued at approximately $211,000.

Several other institutional investors have also recently made changes to their positions in the company. AGF Management Ltd. grew its stake in HEICO by 61.7% in 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 during the period. Vantage Investment Partners LLC bought a new stake in shares of HEICO during the 2nd quarter valued at $26,993,000. Driehaus Capital Management LLC grew its position in shares of HEICO by 66.0% in 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 period. Strategic Financial Concepts LLC purchased a new stake in shares of HEICO in the 2nd quarter worth about $67,000. Finally, EULAV Asset Management increased its stake in shares of HEICO by 5.0% in the 3rd quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after acquiring an additional 19,200 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Insider Activity at HEICO

In other news, CEO Laurans A. Mendelson acquired 725 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the transaction, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. The trade was a 0.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Victor H. Mendelson bought 726 shares of the stock in a transaction on 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 acquisition, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This trade represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,650 shares of company stock worth $691,718 over the last quarter. Company insiders own 8.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group initiated coverage on shares of HEICO in a report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective on the stock. Barclays started coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Royal Bank of Canada lifted their price objective on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft boosted their target price on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, HEICO currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Trading Up 0.7 %

Shares of NYSE:HEI opened at $273.33 on Friday. 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 $169.08 and a 1 year high of $283.60. The company has a market cap of $37.88 billion, a P/E ratio of 80.16, a PEG ratio of 3.29 and a beta of 1.23. The stock’s fifty day moving average price is $262.53 and its 200-day moving average price is $243.01.

HEICO (NYSE:HEI) last posted its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter in the prior year, the business 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 expect that HEICO Co. will post 3.65 earnings per share for the current year.

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.