6,102 Heico Corporation $HEI Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. decreased its position in Heico Corporation (NYSE:HEI) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 204,653 shares of the aerospace company’s stock after selling 6,102 shares during the period. Congress Asset Management Co. owned 0.15% of Heico worth $62,047,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in HEI. Maridea Wealth Management LLC bought a new stake in shares of Heico in the second quarter valued at $1,128,000. Silvant Capital Management LLC bought a new position in Heico during the second quarter worth about $9,385,000. SBI Okasan Asset Management Co.Ltd. bought a new position in Heico during the second quarter worth about $1,262,000. Cypress Capital Management LLC WY purchased a new position in shares of Heico in the second quarter worth about $1,315,000. Finally, Safeguard Investment Advisory Group LLC purchased a new position in shares of Heico in the second quarter worth about $2,330,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Heico Price Performance

Shares of HEI traded up $1.76 during mid-day trading on Tuesday, reaching $303.33. 424,681 shares of the stock traded hands, compared to its average volume of 582,324. The company has a market cap of $42.39 billion, a price-to-earnings ratio of 50.47, a price-to-earnings-growth ratio of 2.55 and a beta of 1.09. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. The firm has a fifty day moving average price of $334.27 and a 200 day moving average price of $319.47. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51.

Heico (NYSE:HEI) last issued its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter last year, the business posted $1.26 earnings per share. The firm’s revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts predict that Heico Corporation will post 6.25 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently commented on HEI shares. Citigroup upped their price target on shares of Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Wells Fargo & Company lowered their target price on shares of Heico from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Guggenheim started coverage on Heico in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Finally, UBS Group reaffirmed a “neutral” rating and issued a $396.00 price target (up from $382.00) on shares of Heico in a report on Thursday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $391.07.

Heico Profile

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.