Gabelli Funds LLC Trims Holdings in Heico Corporation $HEI

Gabelli Funds LLC lessened its stake in Heico Corporation (NYSE:HEI) by 34.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,952 shares of the aerospace company’s stock after selling 9,100 shares during the period. Gabelli Funds LLC’s holdings in Heico were worth $5,560,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC acquired a new position in Heico in the second quarter worth $910,000. Vinva Investment Management Ltd lifted its position in shares of Heico by 849.8% in the 2nd quarter. Vinva Investment Management Ltd now owns 14,323 shares of the aerospace company’s stock worth $4,698,000 after buying an additional 12,815 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Heico in the 2nd quarter valued at about $1,086,000. Global Trust Asset Management LLC boosted its holdings in shares of Heico by 145.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company’s stock valued at $1,512,000 after buying an additional 2,730 shares during the period. Finally, Nvwm LLC bought a new stake in shares of Heico during the 2nd quarter valued at about $1,189,000. 27.12% of the stock is owned by institutional investors and hedge funds.

Heico Trading Down 2.9%

NYSE:HEI opened at $305.42 on Wednesday. The stock has a market cap of $42.52 billion, a price-to-earnings ratio of 66.83, a PEG ratio of 3.09 and a beta of 1.04. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92. The business has a fifty day moving average of $314.36 and a 200-day moving average of $314.51.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Truist Financial lifted their target price on Heico from $352.00 to $366.00 and gave the company a “buy” rating in a research note on Wednesday, August 27th. Stifel Nicolaus set a $360.00 price target on Heico in a report on Tuesday, August 26th. Royal Bank Of Canada set a $350.00 price objective on Heico in a research report on Wednesday, August 27th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research report on Wednesday, August 27th. Finally, UBS Group boosted their price target on shares of Heico from $346.00 to $375.00 and gave the company a “neutral” rating in a report on Wednesday, August 27th. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $343.62.

Insider Transactions at Heico

In related news, Director Thomas M. Culligan acquired 676 shares of the firm’s stock in a transaction dated 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 completion of the acquisition, the director directly owned 11,030 shares of the company’s stock, valued at approximately $2,690,547.90. The trade was a 6.53% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Julie Neitzel acquired 676 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were bought at an average price of $243.93 per share, for a total transaction of $164,896.68. Following the purchase, the director directly owned 676 shares of the company’s stock, valued at approximately $164,896.68. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased a total of 4,448 shares of company stock worth $1,086,933 over the last ninety days. Insiders own 9.55% of the company’s stock.

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.