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

A number of other hedge funds have also bought and sold shares of the business. Threadgill Financial LLC grew its stake in Heico by 2,033.0% in the 2nd quarter. Threadgill Financial LLC now owns 16,893 shares of the aerospace company's stock valued at $5,541,000 after buying an additional 16,101 shares in the last quarter. Towerpoint Wealth LLC purchased a new position in shares of Heico during the 2nd quarter valued at $225,000. Mirador Capital Partners LP purchased a new position in shares of Heico during the 2nd quarter valued at $1,486,000. Aaron Wealth Advisors LLC purchased a new position in shares of Heico during the 2nd quarter valued at $251,000. Finally, Value Partners Investments Inc. grew its position in shares of Heico by 12.9% during the 2nd quarter. Value Partners Investments Inc. now owns 2,552 shares of the aerospace company's stock valued at $836,000 after purchasing an additional 291 shares in the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction dated Tuesday, July 15th. The shares were 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 of the company's stock, valued at $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.55% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays boosted their price target on shares of Heico from $280.00 to $300.00 and gave the company an "equal weight" rating in a research report on Tuesday, September 2nd. Royal Bank Of Canada set a $350.00 target price on shares of Heico in a research report on Wednesday, August 27th. Zacks Research upgraded shares of Heico to a "hold" rating in a research report on Monday, August 11th. The Goldman Sachs Group reiterated a "buy" rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a research report on Wednesday, August 27th. Finally, Robert W. Baird upped their target price on shares of Heico from $360.00 to $400.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $346.09.

Heico Trading Up 0.6%

Shares of NYSE:HEI traded up $1.80 during midday trading on Monday, hitting $320.55. 271,669 shares of the stock traded hands, compared to its average volume of 422,854. Heico Corporation has a one year low of $216.68 and a one year high of $338.92. The stock has a market capitalization of $44.62 billion, a PE ratio of 70.14, a P/E/G ratio of 3.75 and a beta of 1.08. The business's 50 day moving average is $317.85 and its two-hundred day moving average is $291.95. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.29%. 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 prior year, the firm earned $0.97 earnings per share. Heico's revenue was up 15.7% on a year-over-year basis. As a group, research analysts forecast that Heico Corporation will post 4.2 earnings per share 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.