Advisors Asset Management Inc. Acquires 2,219 Shares of Heico Corporation $HEI

Advisors Asset Management Inc. lifted its holdings in shares of Heico Corporation (NYSE:HEI) by 10.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,736 shares of the aerospace company’s stock after purchasing an additional 2,219 shares during the period. Advisors Asset Management Inc.’s holdings in Heico were worth $7,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Costello Asset Management INC acquired a new position in shares of Heico during the first quarter worth approximately $27,000. Ridgewood Investments LLC raised its position in Heico by 36.5% in the 2nd quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock worth $43,000 after purchasing an additional 35 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Heico by 17,800.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock worth $48,000 after buying an additional 178 shares in the last quarter. Andra AP fonden bought a new position in Heico in the 2nd quarter valued at $66,000. Finally, Banque Transatlantique SA increased its stake in shares of Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock valued at $62,000 after buying an additional 68 shares during the period. 27.12% of the stock is owned by institutional investors.

Heico Stock Up 3.0%

Heico stock opened at $315.18 on Wednesday. The firm has a market capitalization of $43.88 billion, a price-to-earnings ratio of 68.97, a PEG ratio of 3.64 and a beta of 1.08. The company’s 50 day simple moving average is $315.76 and its 200 day simple moving average is $311.68. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $338.92.

Heico (NYSE:HEI) last posted its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. Heico had a net margin of 14.96% and a return on equity of 16.29%. The business’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the business posted $0.97 earnings per share. As a group, sell-side analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HEI shares. BNP Paribas Exane started coverage on Heico in a research note on Tuesday, November 18th. They set a “neutral” rating and a $330.00 price target on the stock. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a report on Saturday. BNP Paribas set a $330.00 target price on shares of Heico in a research note on Tuesday, November 18th. Robert W. Baird boosted their price target on shares of Heico from $360.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Heico in a research note on Monday, August 18th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Heico currently has a consensus rating of “Moderate Buy” and a consensus price target of $343.62.

Insiders Place Their Bets

In other Heico news, Director Alan Schriesheim acquired 672 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were acquired at an average price of $243.93 per share, with a total value of $163,920.96. Following the purchase, the director owned 672 shares of the company’s stock, valued at $163,920.96. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carol F. Fine bought 672 shares of Heico stock in a transaction on Friday, October 10th. The shares were acquired at an average price of $243.93 per share, for a total transaction of $163,920.96. Following the completion of the acquisition, the director owned 672 shares of the company’s stock, valued at approximately $163,920.96. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 4,448 shares of company stock worth $1,086,933 over the last 90 days. 9.55% of the stock is currently owned by corporate insiders.

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.