Mezzasalma Advisors LLC Sells 2,731 Shares of HEICO Co. (NYSE:HEI)

Mezzasalma Advisors LLC decreased its position in HEICO Co. (NYSE:HEI) by 52.9% during the 2nd quarter, Holdings Channel reports. The firm owned 2,435 shares of the aerospace company’s stock after selling 2,731 shares during the quarter. Mezzasalma Advisors LLC’s holdings in HEICO were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its holdings in shares of HEICO by 127.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,551 shares of the aerospace company’s stock worth $814,000 after purchasing an additional 2,552 shares during the last quarter. Private Advisor Group LLC raised its position in shares of HEICO by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 12,456 shares of the aerospace company’s stock worth $2,228,000 after purchasing an additional 81 shares during the period. Sawgrass Asset Management LLC lifted its stake in HEICO by 36.2% in the fourth quarter. Sawgrass Asset Management LLC now owns 42,144 shares of the aerospace company’s stock valued at $7,538,000 after buying an additional 11,207 shares in the last quarter. AGF Management Ltd. bought a new stake in HEICO in the 4th quarter valued at $2,899,000. Finally, Qsemble Capital Management LP acquired a new position in shares of HEICO during the fourth quarter worth about $582,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analysts Set New Price Targets

HEI has been the topic of several research reports. Royal Bank of Canada boosted their target price on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Barclays initiated coverage on shares of HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Bank of America increased their price objective on shares of HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Robert W. Baird upped their target price on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, HEICO currently has a consensus rating of “Moderate Buy” and an average price target of $255.67.

HEICO Stock Performance

NYSE:HEI traded up $1.54 on Friday, hitting $256.56. The company’s stock had a trading volume of 705,658 shares, compared to its average volume of 384,049. HEICO Co. has a one year low of $155.42 and a one year high of $259.04. The firm has a market capitalization of $35.53 billion, a P/E ratio of 80.68, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20. The stock has a fifty day moving average of $233.37 and a two-hundred day moving average of $213.84. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS 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 12.62% and a return on equity of 14.26%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.77 earnings per share. Research analysts predict that HEICO Co. will post 3.57 earnings per share for the current year.

HEICO Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.11 dividend. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. The ex-dividend date was Monday, July 1st. HEICO’s dividend payout ratio is currently 6.92%.

Insiders Place Their Bets

In related news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction 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 in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric A. Mendelson sold 8,864 shares of the 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 owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now directly owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The disclosure for this sale can be found here. Insiders sold 85,206 shares of company stock worth $15,571,927 over the last three months. Insiders own 8.10% of the company’s stock.

HEICO 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.