Bellwether Advisors LLC Has $1.94 Million Position in Heico Corporation $HEI

Bellwether Advisors LLC reduced its holdings in shares of Heico Corporation (NYSE:HEI) by 54.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 5,982 shares of the aerospace company’s stock after selling 7,116 shares during the period. Bellwether Advisors LLC’s holdings in Heico were worth $1,936,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in HEI. American Century Companies Inc. boosted its position in shares of Heico by 45.7% during the 3rd quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company’s stock valued at $248,476,000 after acquiring an additional 241,559 shares in the last quarter. Balyasny Asset Management L.P. boosted its position in shares of Heico by 263.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company’s stock valued at $19,521,000 after acquiring an additional 43,821 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Heico by 12.1% during the 4th quarter. Fisher Asset Management LLC now owns 326,386 shares of the aerospace company’s stock valued at $105,615,000 after acquiring an additional 35,288 shares in the last quarter. Erste Asset Management GmbH boosted its position in shares of Heico by 136.0% during the 3rd quarter. Erste Asset Management GmbH now owns 59,000 shares of the aerospace company’s stock valued at $18,752,000 after acquiring an additional 34,000 shares in the last quarter. Finally, Concentric Capital Strategies LP acquired a new stake in shares of Heico during the 3rd quarter valued at about $8,466,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Julie Neitzel sold 676 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.86% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HEI. Rothschild & Co Redburn set a $360.00 price target on shares of Heico and gave the company a “buy” rating in a research report on Wednesday, May 13th. Jefferies Financial Group set a $375.00 price target on shares of Heico in a research report on Sunday. Truist Financial upgraded shares of Heico to a “strong-buy” rating in a research report on Friday, May 1st. Citigroup reduced their price target on shares of Heico from $400.00 to $323.00 and set a “buy” rating on the stock in a research report on Thursday, April 2nd. Finally, Wells Fargo & Company began coverage on shares of Heico in a research report on Wednesday, April 1st. They issued an “equal weight” rating and a $290.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $359.81.

Heico Price Performance

NYSE:HEI opened at $310.06 on Wednesday. Heico Corporation has a 12 month low of $256.11 and a 12 month high of $361.69. The company’s 50-day moving average price is $283.99 and its two-hundred day moving average price is $311.25. The firm has a market cap of $43.26 billion, a PE ratio of 61.28, a price-to-earnings-growth ratio of 3.69 and a beta of 0.95. The company has a quick ratio of 1.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.55.

Heico (NYSE:HEI) last announced its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.09. Heico had a net margin of 15.38% and a return on equity of 16.57%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period in the prior year, the business earned $1.20 earnings per share. Heico’s quarterly revenue was up 14.4% on a year-over-year basis. On average, equities analysts anticipate that Heico Corporation will post 5.56 EPS for the current fiscal year.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.