Asahi Life Asset Management CO. LTD. Takes $428,000 Position in Heico Corporation $HEI

Asahi Life Asset Management CO. LTD. bought a new stake in Heico Corporation (NYSE:HEI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,305 shares of the aerospace company’s stock, valued at approximately $428,000.

Other hedge funds also recently modified their holdings of the company. Ridgewood Investments LLC lifted its holdings in shares of Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. Costello Asset Management INC purchased a new stake in shares of Heico in the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Heico by 17,800.0% in the first 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 in the last quarter. Banque Transatlantique SA lifted its holdings in shares of Heico by 36.8% in the first 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. Finally, Valley National Advisers Inc. purchased a new stake in shares of Heico in the second quarter valued at $114,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HEI shares. Truist Financial increased 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. Morgan Stanley increased their price objective on Heico from $305.00 to $330.00 and gave the stock an “equal weight” rating in a report on Thursday, July 17th. Barclays increased their price objective on Heico from $280.00 to $300.00 and gave the stock an “equal weight” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada set a $350.00 price objective on Heico in a report on Wednesday, August 27th. Finally, Zacks Research upgraded Heico to a “hold” rating in a report on Monday, August 11th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $346.09.

Insider Buying and Selling

In other Heico news, Director Julie Neitzel purchased 676 shares of the stock in a transaction dated Friday, October 10th. The shares were bought at an average cost of $243.93 per share, with a total value of $164,896.68. Following the completion of the transaction, the director owned 676 shares in the company, valued at $164,896.68. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas M. Culligan purchased 676 shares of the stock in a transaction dated Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, for a total transaction 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 4,448 shares of company stock valued at $1,086,933 in the last quarter. Insiders own 9.55% of the company’s stock.

Heico Price Performance

NYSE HEI opened at $318.44 on Thursday. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $338.92. The stock’s 50-day moving average is $316.61 and its two-hundred day moving average is $305.29. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. The firm has a market cap of $44.33 billion, a P/E ratio of 69.68, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08.

Heico (NYSE:HEI) last posted its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company earned $0.97 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. On average, analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current fiscal 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.