Equitable Trust Co. Has $1.13 Million Stock Holdings in HEICO Co. (NYSE:HEI)

Equitable Trust Co. decreased its position in HEICO Co. (NYSE:HEI) by 26.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,029 shares of the aerospace company’s stock after selling 1,784 shares during the period. Equitable Trust Co.’s holdings in HEICO were worth $1,125,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in shares of HEICO during the 4th quarter worth approximately $897,000. Meyer Handelman Co. bought a new position in shares of HEICO in the 1st quarter worth $1,072,000. Quadrature Capital Ltd acquired a new stake in shares of HEICO during the first quarter worth $2,796,000. AGF Management Ltd. acquired a new position in shares of HEICO during the 4th quarter worth about $2,899,000. Finally, Mediolanum International Funds Ltd bought a new stake in shares of HEICO in the 1st quarter valued at about $1,442,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other HEICO news, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares in the company, valued at approximately $40,152,276.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now directly owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric A. Mendelson sold 53,510 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the transaction, the insider now directly owns 168,891 shares of the company’s stock, valued at approximately $30,741,539.82. The disclosure for this sale can be found here. Insiders have sold 85,206 shares of company stock worth $15,571,927 in the last 90 days. Company insiders own 8.10% of the company’s stock.

HEICO Trading Up 0.6 %

Shares of NYSE:HEI opened at $256.56 on Monday. The company has a 50-day simple moving average of $233.37 and a 200 day simple moving average of $214.16. The company has a market capitalization of $35.53 billion, a P/E ratio of 80.68, a price-to-earnings-growth ratio of 3.72 and a beta of 1.20. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.57 and a current ratio of 3.30. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $259.04.

HEICO (NYSE:HEI) last announced its quarterly earnings results 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. The business had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s quarterly revenue was up 37.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.77 EPS. Sell-side analysts forecast that HEICO Co. will post 3.62 earnings per share for the current year.

HEICO Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on HEI shares. Benchmark reaffirmed a “buy” rating and issued a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Stifel Nicolaus raised their price target on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Royal Bank of Canada upped their price target on shares of HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Barclays started 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $255.67.

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.