Inspire Investing LLC Sells 1,479 Shares of HEICO Co. (NYSE:HEI)

Inspire Investing LLC trimmed its position in shares of HEICO Co. (NYSE:HEI) by 24.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,455 shares of the aerospace company’s stock after selling 1,479 shares during the quarter. Inspire Investing LLC’s holdings in HEICO were worth $996,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Clear Harbor Asset Management LLC lifted its holdings in HEICO by 0.4% during the second quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock worth $5,109,000 after acquiring an additional 80 shares in the last quarter. Avalon Capital Management lifted its holdings in shares of HEICO by 3.5% during the 2nd quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock valued at $808,000 after purchasing an additional 123 shares in the last quarter. KPP Advisory Services LLC increased its stake in HEICO by 7.0% during the 4th quarter. KPP Advisory Services LLC now owns 1,900 shares of the aerospace company’s stock worth $340,000 after purchasing an additional 124 shares in the last quarter. Verity Asset Management Inc. raised its holdings in HEICO by 2.2% during the 1st 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 during the period. Finally, Avantax Advisory Services Inc. lifted its stake in HEICO by 12.9% in the first quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock valued at $275,000 after buying an additional 164 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Trading Up 0.5 %

Shares of HEICO stock opened at $265.86 on Friday. The stock has a market cap of $36.82 billion, a P/E ratio of 83.19, a P/E/G ratio of 3.61 and a beta of 1.22. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. HEICO Co. has a 12-month low of $155.42 and a 12-month high of $265.98. The business’s 50 day moving average is $241.78 and its 200-day moving average is $219.85.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same period in the prior year, the firm posted $0.77 earnings per share. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. Equities research analysts predict that HEICO Co. will post 3.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on HEI. Barclays began coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Royal Bank of Canada upped their price objective on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Stifel Nicolaus lifted their target price on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Finally, Truist Financial upped their price target on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $263.56.

Insider Activity at HEICO

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the transaction, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Eric A. Mendelson sold 2,832 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the sale, the insider now directly owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The disclosure for this sale can be found here. In the last ninety days, insiders sold 85,206 shares of company stock worth $15,571,927. Insiders own 8.10% of the company’s stock.

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.