Gateway Investment Advisers LLC Cuts Stake in HEICO Co. (NYSE:HEI)

Gateway Investment Advisers LLC lowered its holdings in shares of HEICO Co. (NYSE:HEI - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 28,711 shares of the aerospace company's stock after selling 1,970 shares during the period. Gateway Investment Advisers LLC's holdings in HEICO were worth $7,671,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Wealthfront Advisers LLC boosted its stake in shares of HEICO by 219,129.4% during the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after purchasing an additional 22,224,106 shares during the period. Bain Capital Public Equity Management II LLC bought a new stake in HEICO during the 4th quarter valued at $110,503,000. Freestone Grove Partners LP purchased a new stake in HEICO during the 4th quarter valued at $71,030,000. Squarepoint Ops LLC boosted its position in HEICO by 2,203.0% during the 4th quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock valued at $20,691,000 after buying an additional 83,251 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in HEICO in the 4th quarter worth $16,578,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. William Blair reaffirmed an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. Barclays set a $280.00 price target on HEICO and gave the company an "equal weight" rating in a research report on Monday, June 2nd. Wall Street Zen upgraded HEICO from a "hold" rating to a "buy" rating in a research report on Friday. Morgan Stanley boosted their target price on HEICO from $270.00 to $305.00 and gave the company an "equal weight" rating in a research note on Wednesday. Finally, Wells Fargo & Company raised their price target on HEICO from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, HEICO presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.45.

Insiders Place Their Bets

In other HEICO news, Director Frank J. Schwitter sold 356 shares of HEICO stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the transaction, the director now owns 1,500 shares in the company, valued at approximately $448,650. The trade was a 19.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julie Neitzel sold 700 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the sale, the director now directly owns 418 shares in the company, valued at approximately $102,924.14. This represents a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 86,056 shares of company stock worth $22,699,941. 9.55% of the stock is currently owned by company insiders.

HEICO Price Performance

Shares of HEI stock opened at $303.64 on Friday. The business's fifty day moving average is $264.05 and its 200 day moving average is $253.23. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.60. The stock has a market cap of $42.19 billion, a price-to-earnings ratio of 82.96, a PEG ratio of 3.10 and a beta of 1.07. HEICO Co. has a twelve month low of $216.68 and a twelve month high of $304.80.

HEICO (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. The firm had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The company's quarterly revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. Research analysts expect that HEICO Co. will post 4.2 EPS for the current fiscal year.

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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