Kingsview Wealth Management LLC Makes New $307,000 Investment in Heico Corporation $HEI

Kingsview Wealth Management LLC acquired a new position in Heico Corporation (NYSE:HEI) in the second quarter, Holdings Channel.com reports. The firm acquired 937 shares of the aerospace company’s stock, valued at approximately $307,000.

Several other institutional investors have also recently modified their holdings of HEI. Congress Asset Management Co. lifted its position in Heico by 366.0% in the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after buying an additional 242,264 shares during the last quarter. Mackenzie Financial Corp bought a new position in Heico during the first quarter valued at approximately $40,949,000. American Century Companies Inc. grew 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 acquiring an additional 31,834 shares during the last quarter. PDT Partners LLC raised its stake in shares of Heico by 781.9% during the first quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company’s stock worth $6,834,000 after acquiring an additional 22,676 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Heico in the 1st quarter worth approximately $5,518,000. 27.12% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Julie Neitzel purchased 676 shares of the company’s stock in a transaction that occurred on Friday, October 10th. The shares were bought at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the transaction, the director directly owned 676 shares of the company’s stock, valued at $164,896.68. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alan Schriesheim acquired 672 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was purchased at an average price of $243.93 per share, with a total value of $163,920.96. Following the acquisition, the director owned 672 shares of the company’s stock, valued at $163,920.96. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 4,448 shares of company stock valued at $1,086,933 over the last ninety days. 9.55% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on HEI. Wall Street Zen lowered shares of Heico from a “buy” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group restated a “buy” rating on shares of Heico in a research report on Monday, August 18th. Zacks Research raised Heico to a “hold” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “buy (b)” rating on shares of Heico in a report on Monday, November 17th. Finally, Bank of America increased their target price on Heico from $355.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Ten research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $343.62.

Heico Price Performance

Shares of HEI stock opened at $303.23 on Friday. 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 fifty-two week low of $216.68 and a fifty-two week high of $338.92. The firm has a market cap of $42.21 billion, a P/E ratio of 66.35, a P/E/G ratio of 3.64 and a beta of 1.08. The business’s 50 day moving average price is $316.25 and its 200-day moving average price is $310.76.

Heico (NYSE:HEI) last announced its quarterly earnings results 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 during the quarter, compared to analyst estimates of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.97 earnings per share. On average, equities research analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current year.

Heico Profile

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.