Hennion & Walsh Asset Management Inc. Increases Holdings in HEICO Co. (NYSE:HEI)

Hennion & Walsh Asset Management Inc. lifted its position in shares of HEICO Co. (NYSE:HEI) by 10.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,920 shares of the aerospace company’s stock after purchasing an additional 476 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in HEICO were worth $1,315,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HEI. Barrett & Company Inc. increased its position in shares of HEICO by 12.2% during the fourth quarter. Barrett & Company Inc. now owns 3,141 shares of the aerospace company’s stock worth $747,000 after purchasing an additional 341 shares in the last quarter. EULAV Asset Management increased its position in shares of HEICO by 12.8% during the fourth quarter. EULAV Asset Management now owns 453,693 shares of the aerospace company’s stock worth $107,861,000 after purchasing an additional 51,500 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of HEICO during the fourth quarter worth about $26,000. Fortress Financial Solutions LLC acquired a new stake in shares of HEICO during the fourth quarter worth about $263,000. Finally, Bradley Foster & Sargent Inc. CT increased its position in HEICO by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company’s stock valued at $667,000 after acquiring an additional 67 shares during the period. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insiders Place Their Bets

In other news, Director Alan Schriesheim sold 35,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the sale, the director now owns 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank J. Schwitter sold 356 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the sale, the director now owns 1,500 shares in the company, valued at $448,650. This trade represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,056 shares of company stock valued at $22,699,941. Corporate insiders own 9.55% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Truist Financial decreased their price objective on HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. UBS Group increased their price objective on HEICO from $264.00 to $306.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Wall Street Zen raised HEICO from a “hold” rating to a “buy” rating in a research report on Friday. Morgan Stanley increased their price objective on HEICO from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Barclays set a $280.00 price objective on HEICO and gave the stock an “equal weight” rating in a research report on Monday, June 2nd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $279.45.

HEICO Stock Performance

NYSE HEI opened at $303.64 on Friday. HEICO Co. has a 1-year low of $216.68 and a 1-year high of $304.80. The company has a market capitalization of $42.19 billion, a P/E ratio of 82.96, a PEG ratio of 3.10 and a beta of 1.07. The business has a 50 day moving average price of $264.05 and a 200 day moving average price of $253.40. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. HEICO’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 earnings per share. Sell-side analysts expect that HEICO Co. will post 4.2 EPS for the current fiscal year.

About HEICO

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.