Seven Eight Capital LP Buys Shares of 1,893 HEICO Co. (NYSE:HEI)

Seven Eight Capital LP purchased a new stake in shares of HEICO Co. (NYSE:HEI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,893 shares of the aerospace company’s stock, valued at approximately $423,000.

A number of other institutional investors have also modified their holdings of HEI. AGF Management Ltd. lifted its position in HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after acquiring an additional 362,625 shares during the last quarter. Capital World Investors lifted its holdings in shares of HEICO by 10.5% during the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after purchasing an additional 311,304 shares during the last quarter. Vantage Investment Partners LLC acquired a new stake in shares of HEICO in the 2nd quarter worth $26,993,000. EULAV Asset Management grew its stake in HEICO by 23.4% during the 1st 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 during the last quarter. Finally, Zeno Equity Partners LLP acquired a new position in HEICO during the 4th quarter valued at about $11,365,000. 27.12% of the stock is currently owned by institutional investors.

Insider Activity at HEICO

In other news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the transaction, the director now owns 1,730 shares in the company, valued at $436,409.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric A. Mendelson sold 53,510 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the transaction, the insider now owns 168,891 shares of the company’s stock, valued at approximately $30,741,539.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Frank J. Schwitter acquired 475 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The disclosure for this purchase can be found here. Insiders sold a total of 82,374 shares of company stock worth $15,061,997 in the last three months. Company insiders own 8.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HEI. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $178.00 to $225.00 in a research note on Tuesday, June 4th. Royal Bank of Canada boosted their target price on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and issued a $245.00 price target on shares of HEICO in a report on Tuesday, August 27th. Barclays initiated coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Finally, Bank of America raised their target price on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.56.

HEICO Price Performance

NYSE:HEI opened at $265.81 on Monday. The firm’s fifty day moving average is $242.58 and its two-hundred day moving average is $220.79. The firm has a market cap of $36.81 billion, a price-to-earnings ratio of 83.59, a PEG ratio of 3.61 and a beta of 1.22. 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 Co. has a one year low of $155.42 and a one year high of $265.98.

HEICO (NYSE:HEI) last posted 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 return on equity of 14.51% and a net margin of 12.64%. The firm had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the company earned $0.77 earnings per share. HEICO’s revenue for the quarter was up 37.3% compared to the same quarter last year. Research analysts expect 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.