Morse Asset Management Inc Increases Holdings in HEICO Co. (NYSE:HEI)

Morse Asset Management Inc raised its holdings in shares of HEICO Co. (NYSE:HEI) by 3.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,169 shares of the aerospace company’s stock after acquiring an additional 221 shares during the quarter. Morse Asset Management Inc’s holdings in HEICO were worth $1,379,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HEI. Andra AP fonden acquired a new position in HEICO in the second quarter valued at approximately $45,000. Center for Financial Planning Inc. purchased a new position in shares of HEICO in the 2nd quarter valued at $52,000. American National Bank purchased a new position in shares of HEICO in the 2nd quarter valued at $66,000. FSC Wealth Advisors LLC purchased a new stake in HEICO in the second quarter valued at $73,000. Finally, Hantz Financial Services Inc. acquired a new position in HEICO in the second quarter valued at $100,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on HEI shares. Stifel Nicolaus lifted their target price on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Robert W. Baird boosted their price objective on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Benchmark restated a “buy” rating and set a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $263.56.

Insiders Place Their Bets

In other HEICO news, Director Frank J. Schwitter purchased 475 shares of HEICO stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the acquisition, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other HEICO news, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Frank J. Schwitter purchased 475 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the purchase, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 82,374 shares of company stock worth $15,061,997. Company insiders own 8.10% of the company’s stock.

HEICO Price Performance

Shares of NYSE HEI opened at $265.81 on Monday. The stock has a fifty day moving average price of $242.58 and a 200 day moving average price of $220.79. HEICO Co. has a 1-year low of $155.42 and a 1-year high of $265.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The company has a market cap of $36.81 billion, a PE ratio of 83.59, a P/E/G ratio of 3.61 and a beta of 1.22.

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

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.