Inspire Advisors LLC Makes New $713,000 Investment in Heico Corporation $HEI

Inspire Advisors LLC bought a new stake in Heico Corporation (NYSE:HEI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,175 shares of the aerospace company’s stock, valued at approximately $713,000.

A number of other institutional investors have also recently made changes to their positions in HEI. Baker Avenue Asset Management LP purchased a new position in Heico in the 1st quarter valued at $345,000. Inspire Investing LLC purchased a new stake in shares of Heico during the second quarter worth $910,000. Global Trust Asset Management LLC raised its position in shares of Heico by 145.2% in the second quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company’s stock valued at $1,512,000 after buying an additional 2,730 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Heico in the first quarter worth about $1,796,000. Finally, Jefferies Financial Group Inc. acquired a new position in Heico during the first quarter worth about $488,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HEI. UBS Group increased their price objective on shares of Heico from $346.00 to $375.00 and gave the company a “neutral” rating in a report on Wednesday, August 27th. Truist Financial upped their price target on Heico from $352.00 to $366.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heico in a research report on Monday. The Goldman Sachs Group reissued a “buy” rating and set a $382.00 price objective (up previously from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Finally, Royal Bank Of Canada set a $350.00 target price on Heico in a research note on Wednesday, August 27th. Ten analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $344.75.

Heico Trading Down 0.2%

HEI opened at $310.20 on Wednesday. The stock has a market capitalization of $43.18 billion, a PE ratio of 67.88, a P/E/G ratio of 3.64 and a beta of 1.08. Heico Corporation has a one year low of $216.68 and a one year high of $338.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. The business’s 50 day moving average price is $317.10 and its 200 day moving average price is $310.23.

Heico (NYSE:HEI) last posted its earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 15.7% on a year-over-year basis. As a group, equities research analysts expect that Heico Corporation will post 4.2 EPS for the current year.

Insider Buying and Selling

In related news, Director Julie Neitzel purchased 676 shares of Heico stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, with a total value of $164,896.68. Following the purchase, the director owned 676 shares of the company’s stock, valued at approximately $164,896.68. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark H. Hildebrandt acquired 676 shares of the firm’s stock in a transaction dated Friday, October 10th. The stock was bought at an average price of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the acquisition, the director owned 49,423 shares in the company, valued at approximately $12,055,752.39. The trade was a 1.39% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 4,448 shares of company stock valued at $1,086,933 over the last three months. Company insiders own 9.55% of the company’s stock.

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.