Baader Bank Aktiengesellschaft Trims Position in Heico Corporation $HEI

Key Points

• Baader Bank Aktiengesellschaft reduced its holdings in Heico Corporation ($HEI) by 9.8% in Q2, now owning 16,050 shares worth about $5.26 million.
• Insider trading revealed that Chairman Laurans A. Mendelson sold 56,300 shares at an average price of $319.45, decreasing his ownership by 4.30%.
• Heico reported a 14.96% net margin and a 15.7% increase in quarterly revenue compared to the previous year, surpassing analyst expectations.

Baader Bank Aktiengesellschaft lowered its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,050 shares of the aerospace company's stock after selling 1,738 shares during the quarter. Baader Bank Aktiengesellschaft's holdings in Heico were worth $5,264,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. EULAV Asset Management boosted its position in Heico by 1.8% during the 1st quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after acquiring an additional 8,000 shares during the last quarter. American Century Companies Inc. boosted its position in Heico by 11.3% during the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company's stock worth $83,528,000 after acquiring an additional 31,834 shares during the last quarter. Vantage Investment Partners LLC boosted its position in Heico by 1.1% during the 1st quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock worth $43,324,000 after acquiring an additional 1,772 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Heico during the 1st quarter worth approximately $40,949,000. Finally, 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 worth $20,691,000 after acquiring an additional 83,251 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Trading Down 1.0%

Shares of HEI traded down $3.33 during mid-day trading on Friday, reaching $318.41. 452,312 shares of the company were exchanged, compared to its average volume of 421,321. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. The stock has a market capitalization of $44.33 billion, a PE ratio of 69.67, a PEG ratio of 3.75 and a beta of 1.08. The business has a 50 day simple moving average of $317.87 and a two-hundred day simple moving average of $291.35.

Heico (NYSE:HEI - Get Free Report) last issued its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The firm's revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 earnings per share. On average, analysts predict that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the business's stock in a transaction 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 transaction, the chairman owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 9.55% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HEI. UBS Group increased their price objective on Heico from $346.00 to $375.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Bank of America increased their price objective on Heico from $355.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Wells Fargo & Company increased their price objective on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Finally, Zacks Research raised Heico to a "hold" rating in a report on Monday, August 11th. Nine equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Heico 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.