Heico Corporation $HEI Shares Acquired by Global Trust Asset Management LLC

Key Points

• Global Trust Asset Management LLC increased its holdings in Heico Corporation by 145.2% during the second quarter, owning 4,610 shares worth $1.5 million as per its latest SEC filing.
• Heico reported an earnings per share (EPS) of $1.26 for the last quarter, surpassing estimates by $0.14 and showcasing a revenue increase of 15.7% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Heico stock, with target prices revised upwards, including a $382.00 target set by Goldman Sachs.

Global Trust Asset Management LLC lifted its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 145.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,610 shares of the aerospace company's stock after purchasing an additional 2,730 shares during the quarter. Heico comprises about 0.8% of Global Trust Asset Management LLC's investment portfolio, making the stock its 29th biggest position. Global Trust Asset Management LLC's holdings in Heico were worth $1,512,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. EULAV Asset Management boosted its holdings in shares of Heico by 1.8% during the first quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after purchasing an additional 8,000 shares during the last quarter. American Century Companies Inc. boosted 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 last quarter. Congress Asset Management Co. boosted 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 last quarter. Vantage Investment Partners LLC boosted its holdings in shares of Heico by 1.1% during the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after purchasing an additional 1,772 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in shares of Heico during the first quarter worth $40,949,000. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Stock Performance

Shares of HEI stock opened at $320.19 on Monday. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58. The business has a 50 day moving average of $317.73 and a two-hundred day moving average of $293.77. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The company has a market cap of $44.57 billion, a P/E ratio of 70.06, a PEG ratio of 3.75 and a beta of 1.08.

Heico (NYSE:HEI - Get Free Report) last issued its earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company 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. Heico's quarterly revenue was up 15.7% compared to the same quarter last year. As a group, analysts anticipate that Heico Corporation will post 4.2 EPS for the current year.

Insider Buying and Selling

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the completion of the transaction, the chairman directly owned 1,253,127 shares in the company, valued at $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 9.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HEI. The Goldman Sachs Group reiterated a "buy" rating and issued a $382.00 target price (up previously from $337.00) on shares of Heico in a report on Wednesday, August 27th. UBS Group lifted their target price on Heico from $346.00 to $375.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Barclays lifted their target price on Heico from $280.00 to $300.00 and gave the company an "equal weight" rating in a report on Tuesday, September 2nd. Robert W. Baird lifted their target price on Heico from $360.00 to $400.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Finally, Stifel Nicolaus set a $360.00 target price on Heico in a report on Tuesday, August 26th. Nine equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

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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