Portland Investment Counsel Inc. Makes New Investment in HEICO Co. (NYSE:HEI)

Portland Investment Counsel Inc. purchased a new stake in shares of HEICO Co. (NYSE:HEI) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 808 shares of the aerospace company’s stock, valued at approximately $211,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. AGF Management Ltd. increased its position in shares of HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after buying an additional 362,625 shares during the period. EULAV Asset Management boosted its holdings in HEICO by 5.0% in the 3rd quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock valued at $105,165,000 after purchasing an additional 19,200 shares during the period. TCW Group Inc. grew its position in shares of HEICO by 3.0% during the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after purchasing an additional 5,779 shares in the last quarter. Driehaus Capital Management LLC increased its holdings in shares of HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares during the period. Finally, Vantage Investment Partners LLC raised its position in shares of HEICO by 1.4% in the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after buying an additional 1,717 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

HEICO Price Performance

HEI opened at $273.33 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. HEICO Co. has a 1 year low of $169.08 and a 1 year high of $283.60. The stock’s 50 day simple moving average is $262.53 and its 200 day simple moving average is $243.01. The firm has a market cap of $37.88 billion, a price-to-earnings ratio of 80.16, a PEG ratio of 3.29 and a beta of 1.23.

HEICO (NYSE:HEI) last issued its 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 analysts’ expectations of $995.34 million. During the same quarter last year, the business earned $0.77 earnings per share. The business’s revenue was up 37.3% on a year-over-year basis. As a group, analysts predict that HEICO Co. will post 3.65 earnings per share for the current year.

Insiders Place Their Bets

In other HEICO news, Director Alan Schriesheim sold 332 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor H. Mendelson acquired 726 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the transaction, the insider now owns 1,234,950 shares in the company, valued at approximately $324,717,753. The trade was a 0.06 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 2,650 shares of company stock valued at $691,718 in the last quarter. Insiders own 8.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on HEI shares. Robert W. Baird boosted their target price on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Morgan Stanley upped their price objective on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Stifel Nicolaus boosted their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Bank of America raised their price objective on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft upped 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

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.