Simon Quick Advisors LLC Boosts Stake in Heico Corporation $HEI

Simon Quick Advisors LLC lifted its stake in Heico Corporation (NYSE:HEI) by 40.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,948 shares of the aerospace company’s stock after purchasing an additional 563 shares during the period. Simon Quick Advisors LLC’s holdings in Heico were worth $639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. AdvisorShares Investments LLC increased its stake in shares of Heico by 2.4% in the 2nd quarter. AdvisorShares Investments LLC now owns 29,861 shares of the aerospace company’s stock worth $9,794,000 after purchasing an additional 702 shares in the last quarter. Emerald Advisers LLC increased its stake in shares of Heico by 1.9% in the 2nd quarter. Emerald Advisers LLC now owns 3,000 shares of the aerospace company’s stock worth $984,000 after purchasing an additional 56 shares in the last quarter. Yorktown Management & Research Co Inc purchased a new stake in shares of Heico in the 2nd quarter worth $420,000. MorganRosel Wealth Management LLC increased its stake in shares of Heico by 16,511.1% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 4,485 shares of the aerospace company’s stock worth $1,471,000 after purchasing an additional 4,458 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Heico by 287.5% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 25,522 shares of the aerospace company’s stock worth $8,371,000 after purchasing an additional 18,936 shares in the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Heico Stock Up 2.3%

HEI opened at $317.60 on Friday. The firm has a 50-day simple moving average of $316.74 and a two-hundred day simple moving average of $303.43. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The company has a market capitalization of $44.21 billion, a PE ratio of 69.50, a price-to-earnings-growth ratio of 3.64 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI) last released its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The business’s revenue was up 15.7% on a year-over-year basis. Analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Insider Transactions at Heico

In other Heico news, Director Thomas M. Culligan purchased 676 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was purchased at an average price of $243.93 per share, with a total value of $164,896.68. Following the acquisition, the director owned 11,030 shares in the company, valued at approximately $2,690,547.90. The trade was a 6.53% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Carol F. Fine purchased 672 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, with a total value of $163,920.96. Following the acquisition, the director owned 672 shares in the company, valued at $163,920.96. The trade was a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 4,448 shares of company stock worth $1,086,933 in the last quarter. Company insiders own 9.55% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Zacks Research upgraded Heico to a “hold” rating in a research note on Monday, August 11th. Truist Financial increased their price target on Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a research note on Wednesday, August 27th. Morgan Stanley increased their price target on Heico from $305.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 17th. Royal Bank Of Canada set a $350.00 price target on Heico in a research note on Wednesday, August 27th. Finally, Stifel Nicolaus set a $360.00 price target on Heico in a research note on Tuesday, August 26th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Heico presently has an average rating of “Moderate Buy” and a consensus target price of $346.09.

Heico Company 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.