Heico Corporation (HEI) Holdings Reduced by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC lowered its holdings in Heico Corporation (NYSE:HEI) by 62.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,963 shares of the aerospace company’s stock after selling 3,269 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Heico Corporation were worth $141,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of the business. Southeast Asset Advisors Inc. boosted its stake in Heico Corporation by 24.9% in the second quarter. Southeast Asset Advisors Inc. now owns 12,005 shares of the aerospace company’s stock worth $862,000 after purchasing an additional 2,392 shares in the last quarter. Fred Alger Management Inc. boosted its stake in Heico Corporation by 23.7% in the second quarter. Fred Alger Management Inc. now owns 380,992 shares of the aerospace company’s stock worth $27,370,000 after purchasing an additional 72,901 shares in the last quarter. AHL Partners LLP boosted its stake in Heico Corporation by 19.2% in the second quarter. AHL Partners LLP now owns 63,693 shares of the aerospace company’s stock worth $4,575,000 after purchasing an additional 10,246 shares in the last quarter. Stifel Financial Corp boosted its stake in Heico Corporation by 24.4% in the second quarter. Stifel Financial Corp now owns 11,396 shares of the aerospace company’s stock worth $817,000 after purchasing an additional 2,235 shares in the last quarter. Finally, Veritable L.P. boosted its stake in Heico Corporation by 27.9% in the second quarter. Veritable L.P. now owns 6,710 shares of the aerospace company’s stock worth $482,000 after purchasing an additional 1,462 shares in the last quarter. 26.08% of the stock is currently owned by institutional investors.
Shares of Heico Corporation (NYSE:HEI) opened at $91.26 on Tuesday. The firm has a market capitalization of $7,674.43, a price-to-earnings ratio of 44.81, a PEG ratio of 4.16 and a beta of 0.74. Heico Corporation has a 52-week low of $53.10 and a 52-week high of $93.00. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.39 and a current ratio of 2.89.
Heico Corporation (NYSE:HEI) last released its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The company had revenue of $391.50 million during the quarter, compared to the consensus estimate of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.62 earnings per share. research analysts forecast that Heico Corporation will post 2.11 EPS for the current year.
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In related news, VP Thomas S. Irwin sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the sale, the vice president now owns 31,110 shares in the company, valued at $2,373,070.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark H. Hildebrandt acquired 1,316 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was bought at an average price of $76.13 per share, with a total value of $100,187.08. The disclosure for this purchase can be found here. Insiders own 9.76% of the company’s stock.
A number of equities analysts have commented on the company. Canaccord Genuity reissued a “buy” rating and issued a $91.00 price objective (up previously from $80.00) on shares of Heico Corporation in a research note on Thursday, August 10th. Zacks Investment Research lowered Heico Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. BidaskClub lowered Heico Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 18th. Jefferies Group LLC reissued a “hold” rating and issued a $89.00 price objective (up previously from $75.00) on shares of Heico Corporation in a research note on Thursday, August 24th. Finally, Seaport Global Securities assumed coverage on Heico Corporation in a research note on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 price objective on the stock. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Heico Corporation currently has an average rating of “Hold” and an average target price of $91.67.
Heico Corporation Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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