HEICO Co. (NYSE:HEI) Shares Purchased by EULAV Asset Management

EULAV Asset Management increased its holdings in HEICO Co. (NYSE:HEI) by 5.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 402,193 shares of the aerospace company’s stock after buying an additional 19,200 shares during the period. HEICO accounts for 2.6% of EULAV Asset Management’s holdings, making the stock its 7th largest position. EULAV Asset Management’s holdings in HEICO were worth $105,165,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in shares of HEICO by 3.4% during the third quarter. Advisors Asset Management Inc. now owns 18,334 shares of the aerospace company’s stock valued at $4,794,000 after purchasing an additional 604 shares during the period. Accredited Investors Inc. purchased a new stake in shares of HEICO during the 3rd quarter valued at approximately $259,000. KPP Advisory Services LLC purchased a new stake in HEICO in the 3rd quarter worth approximately $229,000. MQS Management LLC bought a new position in shares of HEICO in the 3rd quarter worth $284,000. Finally, Rakuten Securities Inc. bought a new position in shares of HEICO in the 3rd quarter worth $81,000. 27.12% of the stock is owned by institutional investors.

HEICO Price Performance

Shares of NYSE HEI opened at $272.78 on Wednesday. The business has a 50-day moving average of $260.29 and a 200-day moving average of $240.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The stock has a market capitalization of $37.81 billion, a price-to-earnings ratio of 79.99, a PEG ratio of 3.28 and a beta of 1.23. HEICO Co. has a fifty-two week low of $167.56 and a fifty-two week high of $281.15.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share 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 company had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. HEICO’s revenue for the quarter was up 37.3% on a year-over-year basis. As a group, sell-side analysts predict that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Benchmark reissued a “buy” rating and set a $245.00 price target on shares of HEICO in a research report on Tuesday, August 27th. Barclays started 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 for the company. UBS Group began coverage on shares of HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 target price for the company. Finally, Truist Financial upped their price target on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $270.70.

Insider Activity

In other news, Director Alan Schriesheim purchased 724 shares of the business’s stock in a transaction on Friday, October 18th. The shares were acquired at an average price of $262.94 per share, with a total value of $190,368.56. Following the acquisition, the director now directly owns 174,878 shares in the company, valued at approximately $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Victor H. Mendelson bought 726 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the purchase, the insider now directly owns 1,234,950 shares in the company, valued at approximately $324,717,753. This represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,650 shares of company stock valued at $691,718 in the last three months. Company insiders own 8.10% of the company’s stock.

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.