HEICO Co. (NYSE:HEI) Shares Sold by LJI Wealth Management LLC

LJI Wealth Management LLC lessened its position in shares of HEICO Co. (NYSE:HEI) by 4.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the aerospace company’s stock after selling 100 shares during the quarter. LJI Wealth Management LLC’s holdings in HEICO were worth $470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. AGF Management Ltd. lifted its holdings in shares of HEICO by 61.7% in the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after purchasing an additional 362,625 shares in the last quarter. Capital World Investors lifted its stake in HEICO by 10.5% in the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after buying an additional 311,304 shares in the last quarter. Vantage Investment Partners LLC purchased a new stake in HEICO in the 2nd quarter valued at approximately $26,993,000. EULAV Asset Management increased its position in HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares in the last quarter. Finally, Zeno Equity Partners LLP purchased a new position in HEICO during the fourth quarter worth $11,365,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HEI. Bank of America increased their price objective on HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Benchmark reaffirmed a “buy” rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Truist Financial boosted their price objective on shares of HEICO from $248.00 to $264.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, HEICO presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.67.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 8,864 shares of the business’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the completion of the sale, the insider now owns 222,401 shares in the company, valued at approximately $40,152,276.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total transaction of $1,600,306.56. Following the sale, the insider now owns 222,401 shares in the company, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Insiders sold 85,206 shares of company stock worth $15,571,927 over the last three months. 8.10% of the stock is owned by insiders.

HEICO Stock Performance

Shares of HEI stock opened at $258.64 on Thursday. The firm has a market capitalization of $35.82 billion, a price-to-earnings ratio of 81.33, a price-to-earnings-growth ratio of 3.61 and a beta of 1.22. The company has a 50 day moving average price of $240.36 and a 200 day moving average price of $219.26. HEICO Co. has a one year low of $155.42 and a one year high of $264.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The business had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. During the same period in the prior year, the firm posted $0.77 EPS. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. Sell-side analysts anticipate that HEICO Co. will post 3.63 EPS 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.