Highland Capital Management LLC Purchases New Position in Heico Corporation $HEI

Highland Capital Management LLC acquired a new position in shares of Heico Corporation (NYSE:HEI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,736 shares of the aerospace company’s stock, valued at approximately $1,553,000.

A number of other large investors also recently modified their holdings of HEI. Ridgewood Investments LLC boosted its position in shares of Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock valued at $26,000 after buying an additional 46 shares during the last quarter. Costello Asset Management INC purchased a new position in Heico during the 1st quarter worth $27,000. NBC Securities Inc. bought a new stake in shares of Heico in the 1st quarter worth $27,000. Caitong International Asset Management Co. Ltd raised 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 during the last quarter. Finally, Banque Transatlantique SA lifted its position in shares of Heico by 36.8% during 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. Institutional investors own 27.12% of the company’s stock.

Insider Activity

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman directly owned 1,253,127 shares of the company’s stock, valued at $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 9.55% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HEI shares. Zacks Research raised shares of Heico to a “hold” rating in a research report on Monday, August 11th. Royal Bank Of Canada set a $350.00 price objective on shares of Heico in a report on Wednesday, August 27th. The Goldman Sachs Group reiterated a “buy” rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Stifel Nicolaus set a $360.00 price objective on Heico in a report on Tuesday, August 26th. Finally, UBS Group boosted their target price on Heico from $346.00 to $375.00 and gave the company a “neutral” rating in a research note on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $346.09.

Heico Stock Performance

Heico stock opened at $320.72 on Monday. The firm has a fifty day simple moving average of $317.70 and a two-hundred day simple moving average of $295.84. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $338.92. The company has a market capitalization of $44.65 billion, a PE ratio of 70.18, a P/E/G ratio of 3.76 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI) last released its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share 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 during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.97 EPS. Heico’s revenue for the quarter was up 15.7% on a year-over-year basis. Research 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.