HWG Holdings LP Acquires New Holdings in HEICO Co. (NYSE:HEI)

HWG Holdings LP acquired a new stake in HEICO Co. (NYSE:HEI) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 14,684 shares of the aerospace company’s stock, valued at approximately $3,283,000. HEICO comprises about 1.2% of HWG Holdings LP’s portfolio, making the stock its 20th largest position.

A number of other large investors have also recently added to or reduced their stakes in the business. Clear Harbor Asset Management LLC lifted its holdings in HEICO by 0.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock valued at $5,109,000 after purchasing an additional 80 shares in the last quarter. Avalon Capital Management lifted its holdings in HEICO by 3.5% in 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 lifted its holdings in HEICO by 7.0% in the 4th quarter. KPP Advisory Services LLC now owns 1,900 shares of the aerospace company’s stock valued at $340,000 after purchasing an additional 124 shares in the last quarter. Verity Asset Management Inc. lifted its holdings in HEICO by 2.2% in the 1st quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock valued at $1,222,000 after purchasing an additional 139 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its holdings in shares of HEICO by 12.9% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock worth $275,000 after acquiring an additional 164 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at HEICO

In other news, Director Frank J. Schwitter acquired 475 shares of the stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $252.26 per share, with a total value of $119,823.50. Following the completion of the transaction, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Frank J. Schwitter purchased 475 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $252.26 per share, with a total value of $119,823.50. Following the completion of the transaction, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the sale, the insider now directly owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Insiders sold 82,374 shares of company stock valued at $15,061,997 over the last 90 days. 8.10% of the stock is owned by corporate insiders.

HEICO Stock Down 0.7 %

Shares of NYSE:HEI opened at $259.32 on Monday. 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 52-week low of $155.42 and a 52-week high of $269.38. The company has a 50 day moving average of $246.33 and a two-hundred day moving average of $223.51. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 81.55, a price-to-earnings-growth ratio of 3.79 and a beta of 1.22.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, beating 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 company had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. During the same quarter last year, the company earned $0.77 earnings per share. HEICO’s revenue for the quarter was up 37.3% on a year-over-year basis. As a group, analysts forecast that HEICO Co. will post 3.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HEI has been the topic of several recent analyst reports. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft increased their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Truist Financial increased their target price on shares of HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada increased their target price on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Finally, Benchmark reissued a “buy” rating and set a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $263.56.

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.