Barrett & Company Inc. Increases Stake in Heico Corporation $HEI

Barrett & Company Inc. grew its stake in Heico Corporation (NYSE:HEI) by 1.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 3,216 shares of the aerospace company’s stock after buying an additional 50 shares during the quarter. Barrett & Company Inc.’s holdings in Heico were worth $1,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HEI. NBC Securities Inc. purchased a new position in shares of Heico in the 1st quarter valued at about $27,000. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Heico by 10.7% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 4,920 shares of the aerospace company’s stock valued at $1,315,000 after buying an additional 476 shares during the period. Snider Financial Group boosted its stake in shares of Heico by 7.7% in the 1st quarter. Snider Financial Group now owns 12,318 shares of the aerospace company’s stock valued at $3,291,000 after buying an additional 880 shares during the period. Congress Asset Management Co. boosted its stake in shares of Heico by 1.3% in the 1st quarter. Congress Asset Management Co. now owns 66,193 shares of the aerospace company’s stock valued at $17,686,000 after buying an additional 828 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in Heico during the first quarter worth approximately $177,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

HEI has been the subject of several recent analyst reports. Wall Street Zen upgraded Heico from a “hold” rating to a “buy” rating in a research note on Saturday, August 30th. Morgan Stanley boosted their target price on Heico from $305.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Jefferies Financial Group restated a “buy” rating on shares of Heico in a research note on Monday, August 18th. Truist Financial boosted their target price on Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $382.00 target price (up previously from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $346.09.

Heico Trading Up 0.9%

NYSE:HEI opened at $320.72 on Friday. The firm has a market cap of $44.65 billion, a P/E ratio of 70.18, a PEG ratio of 3.73 and a beta of 1.08. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. The stock’s 50 day simple moving average is $317.70 and its 200-day simple moving average is $295.39. Heico Corporation has a 12-month low of $216.68 and a 12-month high of $338.92.

Heico (NYSE:HEI) last released its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.97 earnings per share. Equities analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Insider Activity

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 9.55% 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.