HWG Holdings LP Acquires New Position in HEICO Co. (NYSE:HEI)

HWG Holdings LP purchased a new position in HEICO Co. (NYSE:HEI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 14,684 shares of the aerospace company’s stock, valued at approximately $3,283,000. HEICO comprises about 1.2% of HWG Holdings LP’s portfolio, making the stock its 20th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC lifted its stake in HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after acquiring an additional 77,067 shares during the last quarter. Security National Bank of SO Dak purchased a new position in HEICO in the second quarter worth approximately $206,000. Scientech Research LLC purchased a new position in HEICO in the second quarter worth approximately $534,000. AXA S.A. lifted its stake in HEICO by 11.0% in the second quarter. AXA S.A. now owns 101,980 shares of the aerospace company’s stock worth $22,804,000 after acquiring an additional 10,143 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in HEICO in the second quarter worth approximately $2,037,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

HEICO Stock Down 0.7 %

HEI stock opened at $259.32 on Monday. The company has a fifty day moving average price of $246.33 and a 200 day moving average price of $223.51. HEICO Co. has a 12 month low of $155.42 and a 12 month high of $269.38. The company has a market cap of $35.91 billion, a price-to-earnings ratio of 81.55, a price-to-earnings-growth ratio of 3.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47.

HEICO (NYSE:HEI) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating 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 firm had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. During the same quarter in the prior year, the firm earned $0.77 EPS. HEICO’s revenue for the quarter was up 37.3% on a year-over-year basis. Sell-side analysts expect that HEICO Co. will post 3.64 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HEI shares. Bank of America lifted their price target on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and boosted their price objective 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 shares of HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Benchmark restated a “buy” rating and set a $245.00 price objective on shares of HEICO in a research report on Tuesday, August 27th. Finally, Stifel Nicolaus boosted their price objective on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.56.

Insider Activity at HEICO

In other news, Director Frank J. Schwitter acquired 475 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Frank J. Schwitter acquired 475 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric A. Mendelson sold 8,864 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. Insiders sold a total of 82,374 shares of company stock worth $15,061,997 in the last 90 days. 8.10% of the stock is owned by insiders.

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.