Pekin Hardy Strauss Inc. Acquires Shares of 850 HEICO Co. (NYSE:HEI)

Pekin Hardy Strauss Inc. bought a new position in shares of HEICO Co. (NYSE:HEI) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 850 shares of the aerospace company’s stock, valued at approximately $222,000.

Other hedge funds have also modified their holdings of the company. Silvercrest Asset Management Group LLC grew its stake in HEICO by 13.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,204 shares of the aerospace company’s stock valued at $2,331,000 after acquiring an additional 1,406 shares in the last quarter. Virtu Financial LLC increased its holdings in shares of HEICO by 148.8% in the first quarter. Virtu Financial LLC now owns 5,449 shares of the aerospace company’s stock valued at $1,041,000 after purchasing an additional 3,259 shares during the last quarter. Verity Asset Management Inc. lifted its position in HEICO by 2.2% during the first quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock worth $1,222,000 after buying an additional 139 shares in the last quarter. EULAV Asset Management boosted its stake in HEICO by 23.4% during 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. Finally, Dudley & Shanley Inc. grew its holdings in HEICO by 6.3% in the 2nd quarter. Dudley & Shanley Inc. now owns 19,550 shares of the aerospace company’s stock valued at $4,372,000 after buying an additional 1,150 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim sold 332 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $201.63, for a total transaction of $66,941.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Laurans A. Mendelson acquired 725 shares of HEICO stock in a transaction dated Friday, October 18th. The stock was purchased at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the acquisition, the chief executive officer now directly owns 929,984 shares in the company, valued at approximately $244,529,992.96. This represents a 0.08 % 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 in the last quarter. 8.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Benchmark restated a “buy” rating and set a $245.00 price objective on shares of HEICO in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lifted their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Barclays assumed coverage on HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective for the company. Robert W. Baird upped their target price 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. Finally, Bank of America lifted their price target on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, HEICO currently has an average rating of “Moderate Buy” and a consensus target price of $270.70.

HEICO Trading Down 1.0 %

Shares of HEI stock opened at $276.36 on Tuesday. HEICO Co. has a fifty-two week low of $167.56 and a fifty-two week high of $283.60. The company has a 50 day moving average price of $261.85 and a 200 day moving average price of $242.18. The stock has a market capitalization of $38.30 billion, a P/E ratio of 81.04, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $995.34 million. During the same quarter in the prior year, the company earned $0.77 earnings per share. The company’s revenue was up 37.3% on a year-over-year basis. Equities research analysts predict that HEICO Co. will post 3.65 EPS for the current fiscal year.

HEICO Company 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.