Congress Asset Management Co. Sells 49,186 Shares of Heico Corporation $HEI

Key Points

• Congress Asset Management Co. cut its Heico stake by 18.1%, selling 49,186 shares and ending the quarter with 223,297 shares (about 0.16% ownership) valued at roughly $72.26 million.
• Other institutions moved in the quarter—most notably American Century raised its stake 45.7% to 769,704 shares and Balyasny Asset Management increased holdings 263.2%—and institutional investors now own about 27.12% of Heico.
• Analyst sentiment is a "Moderate Buy" with an average target of $364.43; Heico recently beat EPS estimates with 14.4% revenue growth and currently trades near $279.80 within a 52-week range of $229.07–$361.69.

Congress Asset Management Co. lowered its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 18.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 223,297 shares of the aerospace company's stock after selling 49,186 shares during the period. Congress Asset Management Co. owned about 0.16% of Heico worth $72,257,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in shares of Heico by 45.7% during the third quarter. American Century Companies Inc. now owns 769,704 shares of the aerospace company's stock valued at $248,476,000 after acquiring an additional 241,559 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of Heico by 0.6% during the third quarter. Two Sigma Investments LP now owns 558,661 shares of the aerospace company's stock worth $180,347,000 after purchasing an additional 3,166 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Heico by 1.2% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 203,504 shares of the aerospace company's stock worth $65,695,000 after purchasing an additional 2,331 shares during the last quarter. Munro Partners increased its holdings in Heico by 8.5% during the 3rd quarter. Munro Partners now owns 197,633 shares of the aerospace company's stock valued at $63,800,000 after purchasing an additional 15,560 shares during the period. Finally, Balyasny Asset Management L.P. increased its holdings in Heico by 263.2% during the 3rd quarter. Balyasny Asset Management L.P. now owns 60,469 shares of the aerospace company's stock valued at $19,521,000 after purchasing an additional 43,821 shares during the period. Institutional investors own 27.12% of the company's stock.

Wall Street Analyst Weigh In

HEI has been the subject of several research analyst reports. Wall Street Zen cut Heico from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Stifel Nicolaus set a $370.00 target price on Heico and gave the company a "buy" rating in a research note on Monday, December 22nd. BNP Paribas Exane raised Heico from a "neutral" rating to an "outperform" rating in a research note on Friday, February 27th. Susquehanna started coverage on shares of Heico in a report on Friday, January 23rd. They issued a "neutral" rating and a $385.00 price target on the stock. Finally, UBS Group reissued a "neutral" rating and set a $371.00 price objective (up from $359.00) on shares of Heico in a research report on Monday, December 22nd. Eleven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $364.43.

Heico Stock Up 1.7%

HEI stock opened at $279.80 on Tuesday. Heico Corporation has a fifty-two week low of $229.07 and a fifty-two week high of $361.69. The company has a market capitalization of $38.99 billion, a price-to-earnings ratio of 55.30, a price-to-earnings-growth ratio of 3.37 and a beta of 1.01. The business's 50 day moving average price is $324.89 and its two-hundred day moving average price is $321.36. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06.

Heico (NYSE:HEI - Get Free Report) last released its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.26 by $0.09. Heico had a return on equity of 16.57% and a net margin of 15.38%.The company had revenue of $1.18 billion during the quarter, compared to analysts' expectations of $1.17 billion. During the same quarter last year, the business posted $1.20 EPS. The firm's revenue for the quarter was up 14.4% compared to the same quarter last year. As a group, analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Heico Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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