HEICO Co. (NYSE:HEI) Shares Sold by Benjamin Edwards Inc.

Benjamin Edwards Inc. lessened its holdings in shares of HEICO Co. (NYSE:HEI) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,178 shares of the aerospace company’s stock after selling 91 shares during the quarter. Benjamin Edwards Inc.’s holdings in HEICO were worth $263,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in shares of HEICO in the 4th quarter valued at approximately $897,000. Meyer Handelman Co. acquired a new position in shares of HEICO in the 1st quarter valued at approximately $1,072,000. Quadrature Capital Ltd acquired a new position in shares of HEICO in the 1st quarter valued at approximately $2,796,000. Mediolanum International Funds Ltd acquired a new stake in shares of HEICO during the 1st quarter valued at approximately $1,442,000. Finally, Dudley & Shanley Inc. grew its stake in HEICO by 24.0% during the 1st quarter. Dudley & Shanley Inc. now owns 18,400 shares of the aerospace company’s stock worth $3,514,000 after buying an additional 3,560 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HEI has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upped their price objective on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Bank of America lifted their price objective on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Royal Bank of Canada increased their target price on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Barclays initiated coverage on HEICO in a research report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $263.56.

HEICO Price Performance

HEI stock opened at $265.81 on Friday. HEICO Co. has a 12 month low of $155.42 and a 12 month high of $265.98. The company’s 50-day moving average price is $242.58 and its two-hundred day moving average price is $220.57. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The firm has a market cap of $36.81 billion, a P/E ratio of 83.59, a P/E/G ratio of 3.61 and a beta of 1.22.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share 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 for the quarter, compared to analyst estimates of $995.34 million. During the same quarter in the previous year, the company posted $0.77 EPS. HEICO’s quarterly revenue was up 37.3% compared to the same quarter last year. On average, analysts anticipate that HEICO Co. will post 3.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Frank J. Schwitter acquired 475 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Frank J. Schwitter acquired 475 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the transaction, the insider now directly owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The disclosure for this sale can be found here. Insiders have sold 85,206 shares of company stock valued at $15,571,927 in the last ninety days. 8.10% of the stock is owned by company insiders.

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.