Bessemer Securities LLC Decreases Stake in HEICO Co. (NYSE:HEI)

Bessemer Securities LLC cut its stake in shares of HEICO Co. (NYSE:HEI) by 42.0% during the second quarter, HoldingsChannel reports. The firm owned 2,837 shares of the aerospace company’s stock after selling 2,051 shares during the quarter. Bessemer Securities LLC’s holdings in HEICO were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in HEICO by 3.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,363,157 shares of the aerospace company’s stock valued at $209,434,000 after purchasing an additional 40,452 shares during the period. Riverbridge Partners LLC raised its position in HEICO by 3.9% during the second quarter. Riverbridge Partners LLC now owns 1,198,169 shares of the aerospace company’s stock valued at $212,004,000 after purchasing an additional 44,873 shares during the period. Select Equity Group L.P. purchased a new stake in HEICO during the first quarter valued at approximately $85,710,000. Federated Hermes Inc. raised its position in HEICO by 4.3% during the first quarter. Federated Hermes Inc. now owns 362,502 shares of the aerospace company’s stock valued at $62,002,000 after purchasing an additional 14,997 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in HEICO by 336.7% during the first quarter. Balyasny Asset Management L.P. now owns 348,363 shares of the aerospace company’s stock valued at $59,584,000 after purchasing an additional 268,584 shares during the period. 27.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group upped their price objective on HEICO from $204.00 to $206.00 in a research report on Friday, August 11th. StockNews.com assumed coverage on HEICO in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on HEICO in a report on Wednesday, September 27th. They issued a “buy” rating and a $192.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $200.00 price target on shares of HEICO in a report on Wednesday, August 30th. Finally, Benchmark increased their price objective on HEICO from $170.00 to $185.00 in a research note on Wednesday, August 30th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $198.10.

HEICO Stock Up 0.4 %

Shares of NYSE:HEI opened at $170.65 on Tuesday. The company has a quick ratio of 2.50, a current ratio of 4.03 and a debt-to-equity ratio of 0.41. The stock has a market cap of $23.58 billion, a P/E ratio of 59.46, a price-to-earnings-growth ratio of 3.61 and a beta of 1.17. The business’s 50 day moving average is $162.93 and its 200 day moving average is $167.53. HEICO Co. has a 52-week low of $147.69 and a 52-week high of $182.18.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Tuesday, August 29th. The aerospace company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $722.90 million during the quarter, compared to analysts’ expectations of $701.55 million. HEICO had a return on equity of 14.30% and a net margin of 15.05%. The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Sell-side analysts predict that HEICO Co. will post 2.84 EPS for the current year.

Insider Transactions at HEICO

In other news, CEO Laurans A. Mendelson sold 23,477 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $166.20, for a total value of $3,901,877.40. Following the completion of the sale, the chief executive officer now owns 1,694,451 shares of the company’s stock, valued at approximately $281,617,756.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Laurans A. Mendelson sold 23,477 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was sold at an average price of $166.20, for a total value of $3,901,877.40. Following the completion of the sale, the chief executive officer now owns 1,694,451 shares of the company’s stock, valued at approximately $281,617,756.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 2,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $164.23, for a total value of $328,460.00. Following the completion of the transaction, the director now owns 105,111 shares of the company’s stock, valued at approximately $17,262,379.53. The disclosure for this sale can be found here. Insiders own 8.26% of the company’s stock.

HEICO Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services. 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.