Corton Capital Inc. Acquires New Holdings in Heico Corporation $HEI

Corton Capital Inc. bought a new stake in shares of Heico Corporation (NYSE:HEI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 701 shares of the aerospace company’s stock, valued at approximately $230,000.

Several other hedge funds have also bought and sold shares of the stock. EULAV Asset Management lifted its position in Heico by 1.8% during the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company’s stock valued at $123,360,000 after purchasing an additional 8,000 shares during the last quarter. American Century Companies Inc. lifted its position in Heico by 11.3% during the first quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company’s stock valued at $83,528,000 after purchasing an additional 31,834 shares during the last quarter. Congress Asset Management Co. lifted its position in Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock valued at $101,174,000 after purchasing an additional 242,264 shares during the last quarter. Mackenzie Financial Corp bought a new stake in Heico during the first quarter valued at approximately $40,949,000. Finally, Cutter & CO Brokerage Inc. lifted its position in Heico by 0.3% during the first quarter. Cutter & CO Brokerage Inc. now owns 64,647 shares of the aerospace company’s stock valued at $17,273,000 after purchasing an additional 187 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

Insider Activity at Heico

In other news, Director Mark H. Hildebrandt purchased 400 shares of the stock in a transaction that occurred on Tuesday, October 21st. The stock was bought at an average cost of $248.76 per share, for a total transaction of $99,504.00. Following the acquisition, the director directly owned 1,181 shares of the company’s stock, valued at $293,785.56. This represents a 51.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas M. Culligan purchased 676 shares of the stock in a transaction that occurred on Friday, October 10th. The shares were purchased at an average price of $243.93 per share, with a total value of $164,896.68. Following the completion of the acquisition, the director directly owned 11,030 shares in the company, valued at $2,690,547.90. The trade was a 6.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders 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.

Heico Price Performance

Shares of Heico stock opened at $314.23 on Tuesday. The company has a fifty day moving average of $316.91 and a 200-day moving average of $304.69. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $338.92. 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 stock has a market capitalization of $43.74 billion, a price-to-earnings ratio of 68.76, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08.

Heico (NYSE:HEI) last posted its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the business posted $0.97 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. Equities research analysts expect that Heico Corporation will post 4.2 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Heico from a “hold” rating to a “buy” rating in a research report on Saturday, August 30th. Stifel Nicolaus set a $360.00 target price on shares of Heico in a research report on Tuesday, August 26th. Zacks Research upgraded shares of Heico to a “hold” rating in a research report on Monday, August 11th. Robert W. Baird upped their price objective on shares of Heico from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Finally, Barclays upped their price objective on shares of Heico from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 2nd. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.