Heico Corporation $HEI Stock Bought by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP boosted its holdings in shares of Heico Corporation (NYSE:HEI) by 30.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,357 shares of the aerospace company’s stock after purchasing an additional 2,619 shares during the quarter. Fulcrum Asset Management LLP’s holdings in Heico were worth $3,488,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Weitz Investment Management Inc. purchased a new stake in shares of Heico in the second quarter valued at approximately $52,737,000. Bank of New York Mellon Corp purchased a new position in shares of Heico during the 2nd quarter valued at approximately $54,386,000. Freestone Grove Partners LP purchased a new position in shares of Heico during the 2nd quarter valued at approximately $50,276,000. Liontrust Investment Partners LLP acquired a new stake in Heico in the 2nd quarter valued at $29,744,000. Finally, Bath Savings Trust Co grew its stake in Heico by 5.4% in the 3rd quarter. Bath Savings Trust Co now owns 49,570 shares of the aerospace company’s stock valued at $15,029,000 after acquiring an additional 2,542 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Stock Performance

NYSE HEI opened at $342.31 on Tuesday. The company has a market cap of $47.84 billion, a PE ratio of 56.96, a price-to-earnings-growth ratio of 2.48 and a beta of 1.09. The stock’s 50 day simple moving average is $310.91 and its 200-day simple moving average is $319.51. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27.

Heico (NYSE:HEI) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%. The firm had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 23.1% on a year-over-year basis. As a group, equities research analysts anticipate that Heico Corporation will post 6.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HEI shares. Guggenheim assumed coverage on shares of Heico in a report on Monday, September 14th. They issued a “neutral” rating for the company. Morgan Stanley set a $345.00 price objective on shares of Heico and gave the company an “equal weight” rating in a report on Friday, October 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Heico in a research report on Wednesday, October 14th. Stifel Nicolaus set a $410.00 target price on shares of Heico in a research note on Thursday, August 27th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $491.00 target price on shares of Heico in a research note on Monday, August 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and a consensus target price of $387.33.

Insider Activity at Heico

In other Heico news, Director Adolfo Henriques bought 795 shares of Heico stock in a transaction dated Thursday, October 8th. The stock was acquired at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the transaction, the director directly owned 24,864 shares of the company’s stock, valued at approximately $5,477,539.20. This represents a 3.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Nanda Kumar Cheruvatath purchased 795 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was acquired at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the purchase, the director owned 4,877 shares of the company’s stock, valued at approximately $1,074,403.10. This represents a 19.48% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 5,362 shares of company stock worth $1,225,430 over the last 90 days. Corporate insiders own 4.86% of the company’s stock.

Heico Company Profile

HEICO Corporation is an aerospace and electronics company that develops, manufactures and services products for commercial aviation, defense, space and other markets. Its Flight Support Group supplies replacement parts for aircraft and provides repair and overhaul services for aircraft components, while its Electronic Technologies Group makes specialized electronic, electro-optical and other technology products.

The company’s products and services support airlines, aircraft operators, original equipment manufacturers, government agencies and defense contractors.