Bayforest Capital Ltd Boosts Stake in Heico Corporation $HEI

Bayforest Capital Ltd increased its holdings in shares of Heico Corporation (NYSE:HEI) by 51.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 351 shares of the aerospace company’s stock after acquiring an additional 120 shares during the period. Bayforest Capital Ltd’s holdings in Heico were worth $115,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. EULAV Asset Management grew its holdings in Heico by 1.8% in the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company’s stock valued at $123,360,000 after purchasing an additional 8,000 shares during the period. American Century Companies Inc. grew its stake in Heico by 11.3% in the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock valued at $83,528,000 after acquiring an additional 31,834 shares during the period. Congress Asset Management Co. increased its holdings in Heico by 366.0% in the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after acquiring an additional 242,264 shares in the last quarter. Vantage Investment Partners LLC raised its position in Heico by 1.1% during the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company’s stock worth $43,324,000 after acquiring an additional 1,772 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in Heico during the first quarter valued at $40,949,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Analyst Ratings Changes

HEI has been the subject of several research analyst reports. Royal Bank Of Canada set a $350.00 price target on shares of Heico in a research report on Wednesday, August 27th. Zacks Research raised shares of Heico to a “hold” rating in a report on Monday, August 11th. UBS Group upped their price objective on shares of Heico from $346.00 to $375.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Truist Financial upped their target price on Heico from $352.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Finally, Robert W. Baird lifted their price target on Heico from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $346.09.

Insider Buying and Selling

In related news, Director Thomas M. Culligan acquired 676 shares of the business’s stock in a transaction dated Friday, October 10th. The shares were acquired at an average price of $243.93 per share, with a total value of $164,896.68. Following the completion of the transaction, the director owned 11,030 shares of the company’s stock, valued at $2,690,547.90. The trade was a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carol F. Fine bought 672 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was bought at an average price of $243.93 per share, with a total value of $163,920.96. Following the completion of the acquisition, the director owned 672 shares of the company’s stock, valued at $163,920.96. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 4,048 shares of company stock worth $987,429 over the last three months. 9.55% of the stock is owned by insiders.

Heico Price Performance

NYSE:HEI opened at $306.79 on Friday. 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 company has a market capitalization of $42.71 billion, a P/E ratio of 67.13, a P/E/G ratio of 3.60 and a beta of 1.08. The stock’s fifty day moving average is $315.87 and its two-hundred day moving average is $298.58. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92.

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

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.