HEICO Co. (NYSE:HEI) Shares Sold by LJI Wealth Management LLC

by · The Markets Daily

LJI Wealth Management LLC lowered its stake in HEICO Co. (NYSE:HEI – Free Report) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,000 shares of the aerospace company’s stock after selling 100 shares during the period. LJI Wealth Management LLC’s holdings in HEICO were worth $523,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in HEICO in the first quarter valued at approximately $2,796,000. Driehaus Capital Management LLC grew its holdings in 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. AdvisorShares Investments LLC increased its position in shares of HEICO by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after buying an additional 2,244 shares in the last quarter. Virtu Financial LLC lifted its position in shares of HEICO by 148.8% during the 1st quarter. Virtu Financial LLC now owns 5,449 shares of the aerospace company’s stock valued at $1,041,000 after buying an additional 3,259 shares in the last quarter. Finally, Bright Rock Capital Management LLC acquired a new stake in HEICO in the 3rd quarter valued at $1,830,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

HEICO Trading Down 2.4 %

Shares of HEI stock traded down $6.63 on Friday, hitting $270.41. 758,764 shares of the stock traded hands, compared to its average volume of 384,149. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO Co. has a twelve month low of $167.56 and a twelve month high of $281.15. The firm’s 50-day moving average price is $259.64 and its two-hundred day moving average price is $239.01. The stock has a market capitalization of $37.48 billion, a PE ratio of 79.33, a PEG ratio of 3.32 and a beta of 1.23.

HEICO (NYSE:HEI – Get Free Report) last posted its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share 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 business had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter in the prior year, the company posted $0.77 EPS. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. As a group, analysts anticipate that HEICO Co. will post 3.65 EPS for the current year.

Insider Buying and Selling at HEICO

In related news, CEO Laurans A. Mendelson bought 725 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the acquisition, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alan Schriesheim bought 724 shares of the business’s stock in a transaction on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, for a total transaction of $190,368.56. Following the transaction, the director now owns 174,878 shares of the company’s stock, valued at $45,982,421.32. This trade represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 2,650 shares of company stock worth $691,718 over the last quarter. 8.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on HEI shares. Stifel Nicolaus increased their price objective on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Robert W. Baird boosted their price objective on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Bank of America lifted their price target on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Benchmark reissued a “buy” rating and issued a $245.00 price objective on shares of HEICO in a research note on Tuesday, August 27th. Finally, Barclays assumed coverage on shares of HEICO in a research note on Monday, August 19th. They set an “equal weight” rating and a $250.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $270.70.

Get Our Latest Stock Report on HEI

About HEICO

(Free Report)

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.

Further Reading

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