Driehaus Capital Management LLC Has $20.36 Million Stake in HEICO Co. (NYSE:HEI)

Driehaus Capital Management LLC cut its position in HEICO Co. (NYSE:HEI - Free Report) by 50.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,628 shares of the aerospace company's stock after selling 87,490 shares during the quarter. Driehaus Capital Management LLC owned 0.06% of HEICO worth $20,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in HEI. Sequoia Financial Advisors LLC lifted its position in shares of HEICO by 5.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company's stock worth $231,000 after buying an additional 46 shares during the last quarter. Moran Wealth Management LLC lifted its position in shares of HEICO by 1.9% in the 4th quarter. Moran Wealth Management LLC now owns 2,687 shares of the aerospace company's stock worth $639,000 after buying an additional 51 shares during the last quarter. United Capital Financial Advisors LLC lifted its position in shares of HEICO by 5.7% in the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock worth $248,000 after buying an additional 56 shares during the last quarter. Moody Lynn & Lieberson LLC lifted its position in shares of HEICO by 1.6% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 4,251 shares of the aerospace company's stock worth $1,011,000 after buying an additional 65 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT lifted its position in shares of HEICO by 2.4% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock worth $667,000 after buying an additional 67 shares during the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

HEICO Price Performance

Shares of NYSE HEI traded up $4.31 during mid-day trading on Monday, reaching $268.47. 429,540 shares of the company traded hands, compared to its average volume of 468,035. HEICO Co. has a fifty-two week low of $208.44 and a fifty-two week high of $283.60. 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 cap of $37.30 billion, a PE ratio of 73.35, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05. The stock has a fifty day simple moving average of $255.91 and a 200-day simple moving average of $249.92.

HEICO (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The aerospace company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.27. The business 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%. Equities research analysts anticipate that HEICO Co. will post 4.2 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.