2,498 Shares in Heico Corporation $HEI Acquired by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. acquired 2,498 shares of Heico Corporation, valued at approximately $819,000, during the 2nd quarter.
• Heico's latest earnings report showed $1.26 EPS, exceeding analysts' expectations, with revenue up 15.7% year-over-year.
• Bank of America and Robert W. Baird have raised their price targets for Heico to $400.00, reflecting strong analyst support with a consensus rating of Moderate Buy.

Cookson Peirce & Co. Inc. acquired a new position in Heico Corporation (NYSE:HEI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,498 shares of the aerospace company's stock, valued at approximately $819,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EULAV Asset Management increased its position in shares of Heico by 1.8% during the 1st quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after purchasing an additional 8,000 shares during the last quarter. American Century Companies Inc. lifted its stake in Heico by 11.3% during the first quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company's stock worth $83,528,000 after purchasing an additional 31,834 shares during the last quarter. Congress Asset Management Co. lifted its stake in Heico by 366.0% during the second quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company's stock worth $101,174,000 after purchasing an additional 242,264 shares during the last quarter. Mackenzie Financial Corp purchased a new stake in Heico in the first quarter valued at approximately $40,949,000. Finally, Cutter & CO Brokerage Inc. lifted its stake in Heico by 0.3% in the first quarter. Cutter & CO Brokerage Inc. now owns 64,647 shares of the aerospace company's stock valued at $17,273,000 after buying an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

Insider Transactions at Heico

In other news, Director Julie Neitzel purchased 676 shares of the business's stock in a transaction on Friday, October 10th. The stock was purchased at an average price of $243.93 per share, with a total value of $164,896.68. Following the acquisition, the director directly owned 676 shares in the company, valued at approximately $164,896.68. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas M. Culligan purchased 676 shares of the business's stock in a transaction on Friday, October 10th. The stock was purchased at an average cost of $243.93 per share, with a total value of $164,896.68. Following the acquisition, the director owned 11,030 shares in the company, valued at approximately $2,690,547.90. This represents a 6.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 4,048 shares of company stock worth $987,429. 9.55% of the stock is currently owned by company insiders.

Heico Stock Performance

HEI opened at $311.94 on Thursday. The company has a market cap of $43.43 billion, a PE ratio of 68.26, a price-to-earnings-growth ratio of 3.69 and a beta of 1.08. The stock has a 50-day moving average of $315.83 and a 200-day moving average of $299.75. Heico Corporation has a 52-week low of $216.68 and a 52-week high of $338.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $0.97 EPS. The firm's revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HEI shares. Bank of America upped their price objective on Heico from $355.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Weiss Ratings restated a "buy (b)" rating on shares of Heico in a report on Tuesday, October 14th. Barclays raised their target price on Heico from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Tuesday, September 2nd. Stifel Nicolaus set a $360.00 price objective on Heico in a research note on Tuesday, August 26th. Finally, Robert W. Baird lifted their target price on Heico from $360.00 to $400.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

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.

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