4,962 Heico Corporation $HEI Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Key Points

• Bank Julius Baer reduced its Heico stake by 12.2% in the third quarter, selling 4,962 shares and retaining 35,563 shares valued at approximately $10.8 million. Institutional investors collectively own 27.12% of the company.
• Heico insiders have been net buyers, with directors each purchasing 795 shares at $220.30 per share; insiders acquired 5,362 shares worth about $1.23 million over the past three months.
• Analysts maintain a generally positive outlook, with Heico receiving a consensus “Moderate Buy” rating and an average price target of $387.33. The company also exceeded quarterly expectations, reporting $1.67 EPS and $1.41 billion in revenue, up 23.1% year over year.

Bank Julius Baer & Co. Ltd Zurich cut its stake in Heico Corporation (NYSE:HEI - Free Report) by 12.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,563 shares of the aerospace company's stock after selling 4,962 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Heico were worth $10,785,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Maridea Wealth Management LLC acquired a new stake in Heico during the second quarter worth about $1,128,000. Silvant Capital Management LLC purchased a new position in Heico during the second quarter worth about $9,385,000. SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of Heico in the 2nd quarter valued at approximately $1,262,000. Cypress Capital Management LLC WY purchased a new stake in shares of Heico in the 2nd quarter valued at approximately $1,315,000. Finally, WINTON GROUP Ltd increased its holdings in shares of Heico by 124.4% during the 2nd quarter. WINTON GROUP Ltd now owns 4,758 shares of the aerospace company's stock worth $1,695,000 after buying an additional 2,638 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

Insiders Place Their Bets

In other Heico news, Director Adolfo Henriques purchased 795 shares of the business's stock in a transaction on Thursday, October 8th. The shares were bought at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the purchase, the director directly owned 24,864 shares of the company's stock, valued at approximately $5,477,539.20. This trade represents a 3.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nanda Kumar Cheruvatath purchased 795 shares of Heico stock in a transaction dated Thursday, October 8th. The shares were acquired at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the transaction, the director directly owned 4,877 shares of the company's stock, valued at approximately $1,074,403.10. This represents a 19.48% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 5,362 shares of company stock valued at $1,225,430. Insiders own 4.86% of the company's stock.

Analyst Upgrades and Downgrades

HEI has been the topic of several analyst reports. Guggenheim started coverage on shares of Heico in a research report on Monday, September 14th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on Heico from $421.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. The Goldman Sachs Group reissued a "buy" rating and set a $491.00 target price on shares of Heico in a research note on Monday, August 31st. Stifel Nicolaus set a $410.00 target price on Heico in a research report on Thursday, August 27th. Finally, Jefferies Financial Group set a $430.00 price target on Heico and gave the company a "buy" rating in a research note on Wednesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $387.33.

Heico Stock Performance

Shares of HEI stock opened at $336.52 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The firm has a market cap of $47.03 billion, a P/E ratio of 55.99, a P/E/G ratio of 2.60 and a beta of 1.09. The firm's 50 day moving average price is $311.84 and its 200-day moving average price is $319.90. Heico Corporation has a one year low of $256.11 and a one year high of $376.86.

Heico (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%. The company had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the previous year, the company earned $1.26 earnings per share. The firm's quarterly revenue was up 23.1% compared to the same quarter last year. As a group, equities research analysts predict that Heico Corporation will post 6.29 EPS for the current year.

Heico Profile

HEICO Corporation NYSE: HEI is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.

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