Heico Corporation $HEI Shares Sold by EULAV Asset Management

Key Points

• EULAV Asset Management cut its Heico stake by 28.7% in the third quarter, selling 72,329 shares and retaining 179,368 shares worth approximately $54.4 million.
• Institutional investors own 27.12% of Heico, while several funds—including Diamant Asset Management—substantially increased their positions. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $387.33.
• Heico reported quarterly earnings of $1.67 per share, exceeding estimates by $0.16, while revenue rose 23.1% year over year to $1.41 billion. Two directors also purchased shares, contributing to $1.23 million in insider buying over the past 90 days.

EULAV Asset Management decreased its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 28.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,368 shares of the aerospace company's stock after selling 72,329 shares during the quarter. Heico comprises about 1.9% of EULAV Asset Management's investment portfolio, making the stock its 11th biggest position. EULAV Asset Management owned about 0.13% of Heico worth $54,381,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Diamant Asset Management Inc. increased its stake in Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after purchasing an additional 760,687 shares during the last quarter. Weitz Investment Management Inc. purchased a new position in Heico during the second quarter worth about $52,737,000. Bank of New York Mellon Corp acquired a new stake in Heico in the 2nd quarter worth about $54,386,000. Freestone Grove Partners LP acquired a new stake in Heico in the 2nd quarter worth about $50,276,000. Finally, Liontrust Investment Partners LLP acquired a new stake in Heico in the 2nd quarter worth about $29,744,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Wall Street Analyst Weigh In

HEI has been the subject of a number of research analyst reports. UBS Group reaffirmed a "neutral" rating and set a $396.00 price objective (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. Melius Research set a $350.00 price objective on shares of Heico and gave the stock a "hold" rating in a report on Monday, September 14th. Jefferies Financial Group set a $430.00 target price on shares of Heico and gave the stock a "buy" rating in a research report on Wednesday, August 26th. Wells Fargo & Company lowered their target price on shares of Heico from $350.00 to $335.00 and set an "equal weight" rating for the company in a report on Wednesday, September 30th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Heico from $421.00 to $425.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, Heico presently has a consensus rating of "Moderate Buy" and a consensus target price of $387.33.

Heico Price Performance

Shares of Heico stock opened at $297.81 on Monday. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86. The stock has a market capitalization of $41.62 billion, a P/E ratio of 49.55, a PEG ratio of 2.49 and a beta of 1.09. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The business's fifty day moving average price is $316.30 and its 200 day moving average price is $321.96.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%. The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the prior year, the business posted $1.26 earnings per share. Heico's revenue for the quarter was up 23.1% on a year-over-year basis. As a group, research analysts anticipate that Heico Corporation will post 6.29 earnings per share for the current year.

Insider Buying and Selling

In other Heico news, Director Alan Schriesheim bought 795 shares of Heico stock in a transaction dated Thursday, October 8th. The stock was bought at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the purchase, the director owned 1,202 shares in the company, valued at $264,800.60. This represents a 195.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Nanda Kumar Cheruvatath bought 795 shares of Heico stock in a transaction dated Thursday, October 8th. The shares were acquired at an average price of $220.30 per share, with a total value of $175,138.50. Following the completion of the purchase, the director owned 4,877 shares in the company, valued at approximately $1,074,403.10. The trade was a 19.48% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired a total of 5,362 shares of company stock worth $1,225,430 over the last 90 days. 4.86% of the stock is currently owned by corporate insiders.

Heico Company Profile

HEICO Corporation NYSE: HEI is an aerospace, defense, electronics and specialty industrial company headquartered in Hollywood, Florida. Founded in 1957, the company serves commercial aviation, defense, space, medical, telecommunications and other specialized markets.

HEICO operates through two primary business groups. Its Flight Support Group produces and distributes FAA-approved aircraft replacement parts, jet-engine components, specialized aircraft equipment and other products used by commercial and military aircraft operators.

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