Valley National Advisers Inc. Acquires Shares of 350 Heico Corporation $HEI

Valley National Advisers Inc. bought a new position in shares of Heico Corporation (NYSE:HEI) in the second quarter, Holdings Channel reports. The institutional investor bought 350 shares of the aerospace company’s stock, valued at approximately $114,000.

Several other hedge funds have also recently modified their holdings of HEI. Ridgewood Investments LLC boosted its holdings in Heico by 92.0% in the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after buying an additional 46 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Heico in the first quarter worth approximately $27,000. Costello Asset Management INC purchased a new stake in shares of Heico during the first quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in Heico by 17,800.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 178 shares during the last quarter. Finally, Banque Transatlantique SA lifted its holdings in Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 68 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico Price Performance

HEI stock opened at $322.26 on Tuesday. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $338.92. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58. The stock has a market cap of $44.86 billion, a price-to-earnings ratio of 70.52, a price-to-earnings-growth ratio of 3.76 and a beta of 1.08. The business has a fifty day moving average of $317.67 and a two-hundred day moving average of $296.27.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HEI. UBS Group upped their target price on shares of Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a report on Wednesday, August 27th. Robert W. Baird upped their price objective on shares of Heico from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Heico in a research note on Saturday, September 27th. Zacks Research upgraded Heico to a “hold” rating in a report on Monday, August 11th. Finally, Barclays increased their price target on Heico from $280.00 to $300.00 and gave the company an “equal weight” rating in a report on Tuesday, September 2nd. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $346.09.

Insiders Place Their Bets

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the sale, the chairman directly owned 1,253,127 shares in the company, valued at $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.55% of the stock is currently owned by company insiders.

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.