Mirador Capital Partners LP Invests $1.49 Million in Heico Corporation $HEI

Key Points

• Mirador Capital Partners LP acquired 4,529 shares of Heico Corporation, valued at approximately $1.5 million, marking its entry into the aerospace company's stock in the second quarter.
• Heico's quarterly earnings exceeded expectations, with an EPS of $1.26, surpassing the consensus estimate of $1.12, along with a year-over-year revenue growth of 15.7% to $1.15 billion.
• Several brokerage firms have increased their price targets for Heico, with UBS Group raising theirs to $375.00, reflecting bullish sentiment among analysts as nine have rated the stock a "Buy."

Mirador Capital Partners LP acquired a new stake in shares of Heico Corporation (NYSE:HEI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 4,529 shares of the aerospace company's stock, valued at approximately $1,486,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC grew its holdings in shares of Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. NBC Securities Inc. purchased a new position in shares of Heico in the first quarter valued at $27,000. Costello Asset Management INC purchased a new position in shares of Heico in the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after purchasing an additional 178 shares in the last quarter. Finally, Banque Transatlantique SA boosted its stake in Heico by 36.8% during the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock worth $62,000 after buying an additional 68 shares during the period. 27.12% of the stock is owned by hedge funds and other institutional investors.

Heico Stock Performance

NYSE HEI traded down $3.33 on Friday, hitting $318.41. 452,312 shares of the company's stock traded hands, compared to its average volume of 421,321. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92. The firm's 50-day moving average price is $317.87 and its two-hundred day moving average price is $291.35. The firm has a market capitalization of $44.33 billion, a PE ratio of 69.67, a P/E/G ratio of 3.75 and a beta of 1.08.

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

Insider Buying and Selling

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the sale, the chairman owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 9.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. UBS Group lifted their price objective on shares of Heico from $346.00 to $375.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 27th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Heico in a research note on Monday, August 18th. Bank of America lifted their price objective on shares of Heico from $355.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Finally, Truist Financial lifted their target price on Heico from $352.00 to $366.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $346.09.

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.