Short Interest in HEICO Co. (NYSE:HEI) Rises By 29.2%

HEICO Co. (NYSE:HEI) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 2,520,000 shares, a growth of 29.2% from the October 31st total of 1,950,000 shares. Based on an average daily trading volume, of 403,500 shares, the days-to-cover ratio is presently 6.2 days. Approximately 6.0% of the company’s stock are sold short.

Analyst Ratings Changes

Several research firms recently commented on HEI. Robert W. Baird upped 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. Bank of America upped their target price on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Barclays assumed coverage on HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Truist Financial increased their price objective on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on 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 eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, HEICO has a consensus rating of “Moderate Buy” and an average price target of $270.70.

Insider Transactions at HEICO

In other news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the purchase, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. This represents a 37.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $66,941.16. The disclosure for this sale can be found here. In the last quarter, insiders purchased 2,650 shares of company stock worth $691,718. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HEICO

Several institutional investors have recently made changes to their positions in HEI. Andra AP fonden purchased a new position in shares of HEICO in the 2nd quarter valued at about $45,000. Center for Financial Planning Inc. purchased a new position in HEICO in the second quarter valued at about $52,000. American National Bank purchased a new position in HEICO in the second quarter valued at about $66,000. Rakuten Securities Inc. purchased a new stake in shares of HEICO during the 3rd quarter worth approximately $81,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of HEICO in the 2nd quarter worth approximately $73,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Stock Up 0.7 %

HEICO stock opened at $273.37 on Monday. The stock’s 50 day moving average price is $262.68 and its 200 day moving average price is $243.68. HEICO has a 1-year low of $169.08 and a 1-year high of $283.60. The company has a market cap of $37.89 billion, a PE ratio of 80.17, a price-to-earnings-growth ratio of 3.32 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 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.