Driehaus Capital Management LLC Purchases 77,067 Shares of HEICO Co. (NYSE:HEI)

Driehaus Capital Management LLC lifted its position in shares of HEICO Co. (NYSE:HEI) by 66.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 193,895 shares of the aerospace company’s stock after buying an additional 77,067 shares during the quarter. Driehaus Capital Management LLC owned about 0.14% of HEICO worth $43,357,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HEI. Clear Harbor Asset Management LLC raised its stake in HEICO by 0.4% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock worth $5,109,000 after purchasing an additional 80 shares in the last quarter. Avalon Capital Management raised its position in shares of HEICO by 3.5% in the second quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock valued at $808,000 after buying an additional 123 shares in the last quarter. KPP Advisory Services LLC boosted its stake in shares of HEICO by 7.0% in the fourth quarter. KPP Advisory Services LLC now owns 1,900 shares of the aerospace company’s stock valued at $340,000 after buying an additional 124 shares during the period. Verity Asset Management Inc. grew its position in HEICO by 2.2% during the first quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock worth $1,222,000 after buying an additional 139 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its holdings in HEICO by 12.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock valued at $275,000 after acquiring an additional 164 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Analyst Ratings Changes

HEI has been the topic of a number of recent analyst reports. Bank of America raised their price target on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Barclays assumed coverage on HEICO in a research note on Monday, August 19th. They set an “equal weight” rating and a $250.00 target price for the company. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Truist Financial upped their price objective on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Finally, Royal Bank of Canada raised their price target on shares of HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.56.

HEICO Trading Down 0.7 %

Shares of NYSE HEI opened at $259.32 on Friday. The stock has a market cap of $35.91 billion, a P/E ratio of 81.55, a price-to-earnings-growth ratio of 3.79 and a beta of 1.22. The firm has a 50 day moving average price of $246.33 and a two-hundred day moving average price of $222.99. 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 52-week low of $155.42 and a 52-week high of $269.38.

HEICO (NYSE:HEI) last announced 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 the consensus estimate of $995.34 million. During the same period in the previous year, the business earned $0.77 EPS. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. As a group, equities analysts forecast that HEICO Co. will post 3.64 EPS for the current year.

Insider Transactions at HEICO

In related news, insider Eric A. Mendelson sold 8,864 shares of HEICO 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 owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $40,152,276.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter purchased 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 purchase, 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. 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.

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.