Heico Corporation $HEI Shares Sold by Carderock Capital Management Inc.

Carderock Capital Management Inc. reduced its holdings in shares of Heico Corporation (NYSE:HEI) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,610 shares of the aerospace company’s stock after selling 962 shares during the quarter. Heico accounts for about 2.5% of Carderock Capital Management Inc.’s investment portfolio, making the stock its 11th largest holding. Carderock Capital Management Inc.’s holdings in Heico were worth $9,515,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Ridgewood Investments LLC lifted its position in shares of Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after purchasing an additional 46 shares during the last quarter. NBC Securities Inc. bought a new position in shares of Heico in the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new position in shares of Heico in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd grew its position in shares of 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 valued at $48,000 after buying an additional 178 shares during the last quarter. Finally, Banque Transatlantique SA raised its stake in Heico by 36.8% during the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock worth $62,000 after acquiring an additional 68 shares during the period. Institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Truist Financial raised their price target on Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a report on Wednesday, August 27th. UBS Group increased their price objective on shares of Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a report on Wednesday, August 27th. Stifel Nicolaus set a $360.00 price objective on shares of Heico in a research report on Tuesday, August 26th. Jefferies Financial Group reiterated a “buy” rating on shares of Heico in a research report on Monday, August 18th. Finally, The Goldman Sachs Group restated 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. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $346.09.

Insider Buying and Selling at Heico

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares of the company’s stock, valued at $400,311,420.15. The trade was a 4.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 9.55% of the company’s stock.

Heico Stock Performance

Shares of NYSE HEI opened at $316.41 on Thursday. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92. The firm has a market cap of $44.05 billion, a P/E ratio of 69.24, a PEG ratio of 3.74 and a beta of 1.08. The stock has a fifty day moving average price of $317.75 and a two-hundred day moving average price of $287.73. 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 (NYSE:HEI) last posted its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.14. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.97 EPS. Research analysts forecast that Heico Corporation will post 4.2 EPS for the current fiscal year.

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.