AGF Management Ltd. Sells 988 Shares of Heico Corporation $HEI

AGF Management Ltd. trimmed its position in shares of Heico Corporation (NYSE:HEI) by 8.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,986 shares of the aerospace company’s stock after selling 988 shares during the period. AGF Management Ltd.’s holdings in Heico were worth $3,603,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Eos Management L.P. increased its holdings in Heico by 117.0% during the 1st quarter. Eos Management L.P. now owns 15,534 shares of the aerospace company’s stock valued at $4,151,000 after purchasing an additional 8,376 shares during the period. Cutter & CO Brokerage Inc. grew its position in shares of Heico by 0.3% in the 1st quarter. Cutter & CO Brokerage Inc. now owns 64,647 shares of the aerospace company’s stock worth $17,273,000 after buying an additional 187 shares during the last quarter. Fortress Financial Solutions LLC increased its stake in shares of Heico by 12.8% during the first quarter. Fortress Financial Solutions LLC now owns 1,246 shares of the aerospace company’s stock valued at $333,000 after buying an additional 141 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Heico by 14.9% during the first quarter. SBI Securities Co. Ltd. now owns 654 shares of the aerospace company’s stock valued at $175,000 after buying an additional 85 shares during the period. Finally, Sumitomo Life Insurance Co. bought a new position in shares of Heico during the first quarter valued at approximately $681,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Adolfo Henriques acquired 676 shares of Heico stock in a transaction on Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the purchase, the director owned 24,069 shares in the company, valued at $5,871,151.17. This trade represents a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carol F. Fine bought 672 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of $243.93 per share, with a total value of $163,920.96. Following the completion of the acquisition, the director directly owned 672 shares of the company’s stock, valued at approximately $163,920.96. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 4,448 shares of company stock valued at $1,086,933. 9.55% of the stock is currently owned by insiders.

Heico Price Performance

HEI stock opened at $323.33 on Monday. 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 firm has a 50 day moving average price of $316.83 and a 200-day moving average price of $306.87. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $338.92. The firm has a market capitalization of $45.01 billion, a price-to-earnings ratio of 70.75, a PEG ratio of 3.64 and a beta of 1.08.

Heico (NYSE:HEI) last posted its quarterly earnings data 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 last year, the company earned $0.97 EPS. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. Equities research analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

Analyst Ratings Changes

HEI has been the topic of several recent analyst reports. Bank of America lifted their price target on shares of Heico from $355.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Truist Financial raised their target price on shares of Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Royal Bank Of Canada set a $350.00 price target on shares of Heico in a research report on Wednesday, August 27th. The Goldman Sachs Group reissued a “buy” rating and issued a $382.00 price target (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Finally, Stifel Nicolaus set a $360.00 price objective on shares of Heico in a report on Tuesday, August 26th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $346.09.

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.