Eagle Asset Management Inc. Has $2.27 Million Holdings in Heico Corp (HEI)

Eagle Asset Management Inc. lowered its position in shares of Heico Corp (NYSE:HEI) by 56.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,528 shares of the aerospace company’s stock after selling 31,349 shares during the quarter. Eagle Asset Management Inc.’s holdings in Heico were worth $2,271,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Gradient Investments LLC purchased a new position in Heico during the third quarter valued at approximately $116,000. Financial Architects Inc purchased a new position in Heico during the second quarter valued at approximately $123,000. TRUE Private Wealth Advisors purchased a new position in Heico during the third quarter valued at approximately $151,000. Oppenheimer & Co. Inc. purchased a new position in Heico during the third quarter valued at approximately $201,000. Finally, FineMark National Bank & Trust purchased a new position in Heico during the second quarter valued at approximately $208,000. 25.62% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Alan Schriesheim sold 4,000 shares of the business’s stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $76.44, for a total value of $305,760.00. Following the sale, the director now owns 28,700 shares in the company, valued at $2,193,828. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie Neitzel sold 1,706 shares of the business’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $86.64, for a total transaction of $147,807.84. Following the completion of the sale, the director now owns 392 shares in the company, valued at approximately $33,962.88. The disclosure for this sale can be found here. Insiders sold 6,456 shares of company stock worth $511,093 in the last 90 days. 9.88% of the stock is currently owned by company insiders.

HEI has been the topic of several analyst reports. Robert W. Baird began coverage on shares of Heico in a report on Wednesday, August 8th. They set a “neutral” rating and a $84.00 price target on the stock. Zacks Investment Research cut shares of Heico from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. UBS Group began coverage on shares of Heico in a research report on Wednesday, August 15th. They set a “neutral” rating and a $83.00 price objective on the stock. ValuEngine upgraded shares of Heico from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Finally, Canaccord Genuity lifted their price objective on shares of Heico from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $88.60.

Heico stock opened at $82.33 on Monday. The company has a market cap of $10.94 billion, a PE ratio of 60.99, a P/E/G ratio of 3.40 and a beta of 0.89. The company has a current ratio of 2.86, a quick ratio of 1.32 and a debt-to-equity ratio of 0.44. Heico Corp has a 1 year low of $55.43 and a 1 year high of $94.12.

Heico (NYSE:HEI) last released its quarterly earnings data on Monday, August 27th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.04. The firm had revenue of $465.83 million for the quarter, compared to analysts’ expectations of $440.68 million. Heico had a net margin of 14.26% and a return on equity of 16.15%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. As a group, analysts anticipate that Heico Corp will post 1.89 earnings per share for the current fiscal year.

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Heico Company Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.

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Institutional Ownership by Quarter for Heico (NYSE:HEI)

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