Heico Corporation $HEI Stake Reduced by Riverbridge Partners LLC

Riverbridge Partners LLC lessened its holdings in Heico Corporation (NYSE:HEI) by 9.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 589,525 shares of the aerospace company’s stock after selling 63,680 shares during the period. Heico makes up 3.6% of Riverbridge Partners LLC’s investment portfolio, making the stock its 3rd largest position. Riverbridge Partners LLC owned 0.42% of Heico worth $190,764,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. American Century Companies Inc. increased its position in shares of Heico by 45.7% during the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock worth $248,476,000 after purchasing an additional 241,559 shares during the last quarter. Munro Partners acquired a new position in Heico in the second quarter valued at about $59,720,000. Balyasny Asset Management L.P. boosted its stake in Heico by 263.2% during the third quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock worth $19,521,000 after buying an additional 43,821 shares during the period. AMJ Financial Wealth Management acquired a new stake in shares of Heico during the second quarter valued at about $11,552,000. Finally, Erste Asset Management GmbH increased its position in shares of Heico by 136.0% during the third quarter. Erste Asset Management GmbH now owns 59,000 shares of the aerospace company’s stock valued at $18,752,000 after acquiring an additional 34,000 shares during the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Heico Stock Down 2.3%

Shares of HEI opened at $272.58 on Friday. The company’s 50-day simple moving average is $320.29 and its 200-day simple moving average is $320.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. Heico Corporation has a 1 year low of $229.07 and a 1 year high of $361.69. The stock has a market capitalization of $38.03 billion, a PE ratio of 53.87, a P/E/G ratio of 3.42 and a beta of 1.01.

Heico (NYSE:HEI) last announced its quarterly earnings data on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the previous year, the business posted $1.20 earnings per share. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HEI shares. UBS Group restated a “neutral” rating and issued a $371.00 price objective (up from $359.00) on shares of Heico in a report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $375.00 target price (up from $350.00) on shares of Heico in a report on Monday, December 22nd. Citigroup reissued a “buy” rating and issued a $415.00 target price (up from $367.00) on shares of Heico in a research report on Tuesday, January 13th. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Susquehanna assumed coverage on Heico in a research report on Friday, January 23rd. They set a “neutral” rating and a $385.00 price target for the company. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and an average price target of $364.43.

About Heico

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.