Heico Corporation $HEI Stock Holdings Raised by Snider Financial Group

Snider Financial Group raised its position in shares of Heico Corporation (NYSE:HEI) by 19.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,639 shares of the aerospace company’s stock after buying an additional 2,995 shares during the quarter. Heico comprises about 1.4% of Snider Financial Group’s investment portfolio, making the stock its 24th largest holding. Snider Financial Group’s holdings in Heico were worth $5,651,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HEI. Diamant Asset Management Inc. lifted its position in Heico by 25,698.9% during the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after acquiring an additional 760,687 shares during the last quarter. Weitz Investment Management Inc. acquired a new position in shares of Heico during the second quarter worth $52,737,000. Bank of New York Mellon Corp purchased a new stake in shares of Heico during the 2nd quarter valued at $54,386,000. Freestone Grove Partners LP purchased a new stake in shares of Heico during the 2nd quarter valued at $50,276,000. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of Heico in the 2nd quarter worth $29,744,000. 27.12% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. TD Cowen dropped their target price on Heico from $350.00 to $330.00 and set a “hold” rating on the stock in a research note on Friday, October 9th. Citigroup increased their price target on Heico from $429.00 to $441.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Jefferies Financial Group set a $430.00 price target on Heico and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Stifel Nicolaus set a $410.00 price target on Heico in a research note on Thursday, August 27th. Finally, Wells Fargo & Company cut their price objective on shares of Heico from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $385.67.

Heico Stock Performance

NYSE:HEI traded up $0.80 during mid-day trading on Friday, hitting $309.44. The company’s stock had a trading volume of 500,332 shares, compared to its average volume of 473,283. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The stock has a market cap of $43.25 billion, a price-to-earnings ratio of 51.49, a PEG ratio of 2.59 and a beta of 1.09. The business’s fifty day moving average is $323.14 and its two-hundred day moving average is $320.58.

Heico (NYSE:HEI) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the firm earned $1.26 EPS. Analysts anticipate that Heico Corporation will post 6.28 EPS for the current fiscal year.

Insider Activity at Heico

In related news, Director Nanda Kumar Cheruvatath purchased 795 shares of Heico stock in a transaction that occurred on Thursday, October 8th. The stock was bought at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the transaction, the director owned 4,877 shares in the company, valued at $1,074,403.10. The trade was a 19.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Alan Schriesheim purchased 795 shares of the firm’s stock in a transaction on Thursday, October 8th. The stock was bought at an average cost of $220.30 per share, with a total value of $175,138.50. Following the completion of the acquisition, the director directly owned 1,202 shares of the company’s stock, valued at $264,800.60. This trade represents a 195.33% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 5,362 shares of company stock valued at $1,225,430 in the last 90 days. 4.86% of the stock is currently owned by corporate insiders.

Heico Profile

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.