Heico Corporation $HEI Stock: Accuvest Global Advisors Decreases Stake

Key Points

• Accuvest Global Advisors cut its Heico stake by 69.7% in the third quarter, selling 4,697 shares and retaining 2,042 shares valued at about $619,000.
• Heico reported quarterly EPS of $1.67, above the $1.51 consensus estimate, while revenue rose 23.1% year over year to $1.41 billion.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $387.33.

Accuvest Global Advisors lowered its holdings in Heico Corporation (NYSE:HEI - Free Report) by 69.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,042 shares of the aerospace company's stock after selling 4,697 shares during the quarter. Accuvest Global Advisors' holdings in Heico were worth $619,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. NFSG Corp acquired a new stake in shares of Heico in the third quarter worth $31,000. Compass Wealth Management LLC acquired a new position in Heico during the 3rd quarter valued at $61,000. Osterweis Capital Management Inc. acquired a new position in Heico during the 2nd quarter valued at $81,000. Oslo Pensjonsforsikring AS acquired a new position in Heico during the 1st quarter valued at $100,000. Finally, Parvin Asset Management LLC bought a new stake in Heico in the 2nd quarter valued at $145,000. 27.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HEI shares. UBS Group reiterated a "neutral" rating and issued a $396.00 target price (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. Morgan Stanley set a $345.00 price objective on Heico and gave the stock an "equal weight" rating in a research report on Friday, October 16th. TD Cowen decreased their price objective on Heico from $350.00 to $330.00 and set a "hold" rating on the stock in a report on Friday, October 9th. Guggenheim began coverage on Heico in a research report on Monday, September 14th. They issued a "neutral" rating for the company. Finally, Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $387.33.

Heico Price Performance

Shares of HEI stock opened at $332.65 on Monday. The stock's fifty day simple moving average is $310.78 and its 200 day simple moving average is $319.54. Heico Corporation has a one year low of $256.11 and a one year high of $376.86. The firm has a market cap of $46.49 billion, a price-to-earnings ratio of 55.35, a P/E/G ratio of 2.45 and a beta of 1.09. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.36 billion. During the same period in the prior year, the company posted $1.26 earnings per share. The business's revenue for the quarter was up 23.1% compared to the same quarter last year. On average, analysts expect that Heico Corporation will post 6.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Heico

In other Heico news, Director Carol Fine purchased 795 shares of the company's stock in a transaction that occurred on Thursday, October 8th. The stock was purchased at an average cost of $220.30 per share, with a total value of $175,138.50. Following the acquisition, the director directly owned 1,467 shares of the company's stock, valued at approximately $323,180.10. This trade represents a 118.30% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Nanda Kumar Cheruvatath purchased 795 shares of the company's stock in a transaction that occurred on Thursday, October 8th. The shares were acquired at an average cost of $220.30 per share, with a total value of $175,138.50. Following the completion of the acquisition, the director directly owned 4,877 shares in the company, valued at approximately $1,074,403.10. This represents a 19.48% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 5,362 shares of company stock worth $1,225,430 over the last 90 days. Company insiders own 4.86% of the company's stock.

About Heico

HEICO Corporation is an aerospace and electronics company that develops, manufactures and services products for commercial aviation, defense, space and other markets. Its Flight Support Group supplies replacement parts for aircraft and provides repair and overhaul services for aircraft components, while its Electronic Technologies Group makes specialized electronic, electro-optical and other technology products.

The company's products and services support airlines, aircraft operators, original equipment manufacturers, government agencies and defense contractors.

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