Ardevora Asset Management LLP cut its stake in shares of Heico Corporation (NYSE:HEI) by 16.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 439,423 shares of the aerospace company’s stock after selling 84,900 shares during the period. Heico Corporation comprises approximately 1.2% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 15th largest holding. Ardevora Asset Management LLP owned 0.52% of Heico Corporation worth $39,465,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of HEI. Nicholas Investment Partners LP increased its holdings in Heico Corporation by 111.4% in the 2nd quarter. Nicholas Investment Partners LP now owns 78,821 shares of the aerospace company’s stock worth $5,662,000 after acquiring an additional 41,530 shares during the last quarter. AGF Investments Inc. grew its holdings in Heico Corporation by 25.0% during the 2nd quarter. AGF Investments Inc. now owns 62,500 shares of the aerospace company’s stock valued at $4,492,000 after buying an additional 12,500 shares in the last quarter. Fred Alger Management Inc. grew its holdings in Heico Corporation by 23.7% during the 2nd quarter. Fred Alger Management Inc. now owns 380,992 shares of the aerospace company’s stock valued at $27,370,000 after buying an additional 72,901 shares in the last quarter. Artemis Investment Management LLP purchased a new position in Heico Corporation during the 2nd quarter valued at about $7,379,000. Finally, Westpac Banking Corp grew its holdings in Heico Corporation by 8.5% during the 2nd quarter. Westpac Banking Corp now owns 80,174 shares of the aerospace company’s stock valued at $5,760,000 after buying an additional 6,274 shares in the last quarter. Institutional investors and hedge funds own 25.92% of the company’s stock.
In other Heico Corporation news, Director Mark H. Hildebrandt bought 1,316 shares of Heico Corporation stock in a transaction dated Thursday, October 5th. The shares were purchased at an average cost of $76.13 per share, with a total value of $100,187.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas S. Irwin sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $76.28, for a total value of $1,525,600.00. Following the transaction, the vice president now directly owns 31,110 shares in the company, valued at $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by insiders.
A number of research analysts have weighed in on HEI shares. Credit Suisse Group reaffirmed an “outperform” rating and set a $98.00 target price (up previously from $85.00) on shares of Heico Corporation in a report on Tuesday, August 29th. Zacks Investment Research upgraded Heico Corporation from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Tuesday, August 29th. Bank of America Corporation upgraded Heico Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $95.00 in a research report on Tuesday, August 29th. Canaccord Genuity boosted their target price on Heico Corporation from $92.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, October 24th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $89.00 target price (up previously from $75.00) on shares of Heico Corporation in a research report on Thursday, August 24th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $91.67.
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Shares of Heico Corporation (NYSE:HEI) traded down $0.28 during mid-day trading on Tuesday, reaching $90.16. The company’s stock had a trading volume of 89,600 shares, compared to its average volume of 184,725. The company has a quick ratio of 1.39, a current ratio of 2.89 and a debt-to-equity ratio of 0.36. Heico Corporation has a 12-month low of $58.53 and a 12-month high of $93.00. The company has a market capitalization of $6,870.00, a P/E ratio of 44.60, a P/E/G ratio of 4.14 and a beta of 0.73.
Heico Corporation (NYSE:HEI) last posted its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm had revenue of $391.50 million for the quarter, compared to analysts’ expectations of $390.55 million. During the same period in the previous year, the firm earned $0.62 earnings per share. The business’s revenue was up 9.9% compared to the same quarter last year. equities analysts forecast that Heico Corporation will post 2.11 EPS for the current year.
About Heico Corporation
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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