Gateway Investment Advisers LLC Decreases Stock Position in HEICO Co. (NYSE:HEI)

Gateway Investment Advisers LLC lowered its stake in shares of HEICO Co. (NYSE:HEI - Free Report) by 6.4% during the 1st quarter, according to its most recent filing with the SEC. The firm 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 SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HEI. EULAV Asset Management lifted its holdings in shares of HEICO by 12.8% during the 4th quarter. EULAV Asset Management now owns 453,693 shares of the aerospace company's stock valued at $107,861,000 after buying an additional 51,500 shares during the period. Compass Financial Services Inc bought a new position in HEICO in the fourth quarter valued at about $26,000. Fortress Financial Solutions LLC purchased a new position in HEICO in the fourth quarter worth about $263,000. Bradley Foster & Sargent Inc. CT grew its stake in shares of HEICO by 2.4% during the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock valued at $667,000 after purchasing an additional 67 shares during the period. Finally, Navellier & Associates Inc. grew its stake in shares of HEICO by 31.0% during the 4th quarter. Navellier & Associates Inc. now owns 3,158 shares of the aerospace company's stock valued at $751,000 after purchasing an additional 748 shares during the period. Institutional investors own 27.12% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HEI shares. UBS Group increased their price target on shares of HEICO from $264.00 to $306.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Wells Fargo & Company raised their target price on HEICO from $244.00 to $278.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Barclays set a $280.00 target price on HEICO and gave the company an "equal weight" rating in a research report on Monday, June 2nd. William Blair restated an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Finally, Morgan Stanley lifted their price objective on HEICO from $270.00 to $305.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 4th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $279.45.

Insider Buying and Selling

In other HEICO news, Director Alan Schriesheim sold 35,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the transaction, the director now owns 122,197 shares in the company, valued at $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Frank J. Schwitter sold 356 shares of the business's stock in a transaction dated 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 sale, the director now owns 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,056 shares of company stock worth $22,699,941. Corporate insiders own 9.55% of the company's stock.

HEICO Price Performance

HEI traded up $1.87 on Wednesday, hitting $301.70. 508,298 shares of the company's stock traded hands, compared to its average volume of 477,055. The company's 50 day simple moving average is $265.54 and its 200-day simple moving average is $253.56. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. HEICO Co. has a one year low of $216.68 and a one year high of $305.00. The firm has a market cap of $41.97 billion, a price-to-earnings ratio of 82.43, a P/E/G ratio of 3.10 and a beta of 1.07.

HEICO (NYSE:HEI - Get Free Report) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. HEICO's revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, research analysts anticipate that HEICO Co. will post 4.2 EPS for the current year.

HEICO Company 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.