HEICO Co. (NYSE:HEI) Shares Sold by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC trimmed its holdings in shares of HEICO Co. (NYSE:HEI) by 12.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 927 shares of the aerospace company’s stock after selling 126 shares during the period. Sequoia Financial Advisors LLC’s holdings in HEICO were worth $242,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. AGF Management Ltd. raised its position 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 acquiring an additional 362,625 shares in the last quarter. Vantage Investment Partners LLC purchased a new position in shares of HEICO in the 2nd quarter valued at about $26,993,000. Driehaus Capital Management LLC lifted its stake in shares of HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after purchasing an additional 77,067 shares during the period. EULAV Asset Management lifted its stake in shares of HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares during the period. Finally, Strategic Financial Concepts LLC purchased a new stake in HEICO during the second quarter worth about $67,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at HEICO

In related 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, with a total value of $119,823.50. Following the purchase, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other HEICO news, insider Victor H. Mendelson bought 726 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $262.94 per share, with a total value of $190,894.44. Following the completion of the transaction, the insider now directly owns 1,234,950 shares in the company, valued at approximately $324,717,753. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank J. Schwitter purchased 475 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 2,650 shares of company stock valued at $691,718 over the last three months. Company insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on HEI. Barclays started 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 for the company. Stifel Nicolaus lifted their price objective on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Bank of America upped their target price on HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. UBS Group assumed coverage on shares of HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 target price for the company. Finally, Robert W. Baird lifted their target price on shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Trading Up 0.1 %

Shares of HEI stock opened at $248.94 on Wednesday. HEICO Co. has a fifty-two week low of $155.42 and a fifty-two week high of $269.38. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $34.50 billion, a P/E ratio of 73.00, a P/E/G ratio of 3.61 and a beta of 1.22. The stock has a 50-day simple moving average of $257.39 and a 200 day simple moving average of $234.28.

HEICO (NYSE:HEI) last issued its earnings results 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. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period last year, the firm posted $0.77 earnings per share. On average, sell-side analysts expect that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

About HEICO

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.