Chicago Partners Investment Group LLC Invests $267,000 in Heico Corporation $HEI

Key Points

• Chicago Partners Investment Group LLC invested approximately $267,000 in Heico Corporation by purchasing 830 shares during Q2, marking their new position in the aerospace company.
• Heico Corporation reported earnings of $1.26 per share, surpassing expectations, with revenue rising 15.7% year-over-year to $1.15 billion.
• Wall Street analysts have raised their target prices for Heico, with Robert W. Baird increasing theirs from $360 to $400 and assigning an "outperform" rating.

Chicago Partners Investment Group LLC purchased a new position in shares of Heico Corporation (NYSE:HEI - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 830 shares of the aerospace company's stock, valued at approximately $267,000.

A number of other hedge funds also recently modified their holdings of HEI. Congress Asset Management Co. lifted its holdings in shares of 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 period. Mackenzie Financial Corp acquired a new position in shares of Heico during the first quarter worth $40,949,000. American Century Companies Inc. lifted its holdings in shares of 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 period. Artemis Investment Management LLP acquired a new position in shares of Heico during the first quarter worth $7,612,000. Finally, PDT Partners LLC lifted its holdings in shares of Heico by 781.9% during the first quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company's stock worth $6,834,000 after purchasing an additional 22,676 shares during the period. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Trading Down 0.2%

HEI opened at $317.06 on Friday. Heico Corporation has a 1-year low of $216.68 and a 1-year high of $338.92. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. The company has a market cap of $44.14 billion, a P/E ratio of 69.38, a price-to-earnings-growth ratio of 3.72 and a beta of 1.08. The company has a fifty day moving average price of $316.14 and a two-hundred day moving average price of $300.86.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share 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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. The business's revenue was up 15.7% compared to the same quarter last year. Analysts predict that Heico Corporation will post 4.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on HEI shares. Robert W. Baird lifted their target price on shares of Heico from $360.00 to $400.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Barclays lifted their target price on shares of Heico from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. UBS Group lifted their target price 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. Wall Street Zen raised shares of Heico from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Finally, Truist Financial lifted their target price on shares of Heico from $352.00 to $366.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Heico currently has an average rating of "Moderate Buy" and an average target price of $346.09.

Insider Activity at Heico

In other Heico news, Director Carol F. Fine bought 672 shares of the firm's stock in a transaction dated Friday, October 10th. The stock was bought at an average cost of $243.93 per share, with a total value of $163,920.96. Following the completion of the transaction, the director directly owned 672 shares in the company, valued at approximately $163,920.96. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Alan Schriesheim bought 672 shares of the firm's stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, with a total value of $163,920.96. Following the completion of the transaction, the director owned 672 shares of the company's stock, valued at $163,920.96. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 4,448 shares of company stock valued at $1,086,933 over the last quarter. 9.55% of the stock is currently owned by company insiders.

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.

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