ClearAlpha Technologies LP Invests $360,000 in HEICO Co. (NYSE:HEI)

ClearAlpha Technologies LP acquired a new stake in shares of HEICO Co. (NYSE:HEI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,516 shares of the aerospace company's stock, valued at approximately $360,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. World Investment Advisors LLC purchased a new position in shares of HEICO in the 3rd quarter worth $315,000. Tidal Investments LLC boosted its holdings in shares of HEICO by 7.9% in the third quarter. Tidal Investments LLC now owns 1,557 shares of the aerospace company's stock worth $407,000 after buying an additional 114 shares during the last quarter. Synovus Financial Corp grew its position in HEICO by 31.7% during the third quarter. Synovus Financial Corp now owns 1,975 shares of the aerospace company's stock valued at $516,000 after buying an additional 475 shares during the period. Legacy Wealth Management LLC MS purchased a new stake in HEICO during the third quarter valued at approximately $214,000. Finally, Everence Capital Management Inc. bought a new position in HEICO in the fourth quarter worth approximately $1,681,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Wall Street Analyst Weigh In

HEI has been the subject of several analyst reports. Wells Fargo & Company began coverage on HEICO in a research note on Tuesday, April 15th. They issued an "equal weight" rating and a $244.00 price objective for the company. William Blair reaffirmed an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. KeyCorp began coverage on HEICO in a research note on Thursday, January 16th. They set a "sector weight" rating for the company. Finally, Truist Financial decreased their target price on shares of HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $267.36.

HEICO Stock Performance

HEI traded down $0.05 on Friday, reaching $247.16. 491,585 shares of the stock were exchanged, compared to its average volume of 464,484. The company's 50-day moving average price is $252.26 and its 200 day moving average price is $250.15. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. The firm has a market capitalization of $34.34 billion, a PE ratio of 67.53, a PEG ratio of 3.10 and a beta of 1.07. HEICO Co. has a fifty-two week low of $205.82 and a fifty-two week high of $283.60.

HEICO (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The aerospace company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.93 by $0.27. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $983.10 million. HEICO had a net margin of 13.33% and a return on equity of 14.63%. As a group, sell-side analysts forecast that HEICO Co. will post 4.2 EPS for the current fiscal year.

Insider Activity

In other news, Director Alan Schriesheim sold 50,000 shares of the firm's stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total value of $11,978,500.00. Following the transaction, the director now directly owns 157,197 shares of the company's stock, valued at approximately $37,659,685.29. This trade represents a 24.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Julie Neitzel sold 700 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the transaction, the director now owns 418 shares in the company, valued at approximately $102,924.14. This represents a 62.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 9.55% of the company's stock.

HEICO 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.