Heico Corporation $HEI Stock Sold by Motley Fool Asset Management LLC

Key Points

• Motley Fool Asset Management cut its Heico position by 77.3% in the third quarter, selling 6,094 shares and retaining 1,790 shares valued at approximately $543,000.
• Institutional ownership of Heico stands at 27.12%, while company insiders purchased 5,362 shares worth roughly $1.23 million over the past three months.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $387.33. Heico recently beat quarterly EPS and revenue estimates, reporting $1.67 EPS and $1.41 billion in revenue, up 23.1% year over year.

Motley Fool Asset Management LLC lowered its position in Heico Corporation (NYSE:HEI - Free Report) by 77.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,790 shares of the aerospace company's stock after selling 6,094 shares during the period. Motley Fool Asset Management LLC's holdings in Heico were worth $543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HEI. Bank of New York Mellon Corp acquired a new stake in Heico during the 2nd quarter valued at $54,386,000. Weitz Investment Management Inc. bought a new position in Heico in the 2nd quarter valued at $52,737,000. Freestone Grove Partners LP acquired a new position in Heico in the second quarter worth $50,276,000. Liontrust Investment Partners LLP acquired a new position in Heico in the second quarter worth $29,744,000. Finally, Bath Savings Trust Co boosted its stake in Heico by 5.4% in the third quarter. Bath Savings Trust Co now owns 49,570 shares of the aerospace company's stock worth $15,029,000 after purchasing an additional 2,542 shares in the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Julie Neitzel acquired 592 shares of the company's stock in a transaction on Thursday, October 8th. The stock was purchased at an average cost of $294.93 per share, with a total value of $174,598.56. Following the acquisition, the director owned 1,010 shares of the company's stock, valued at $297,879.30. This trade represents a 141.63% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Nanda Kumar Cheruvatath bought 795 shares of the business's stock in a transaction on Thursday, October 8th. The shares were acquired at an average price of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the transaction, the director owned 4,877 shares in the company, valued at approximately $1,074,403.10. This trade represents a 19.48% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders purchased 5,362 shares of company stock worth $1,225,430. Corporate insiders own 4.86% of the company's stock.

Wall Street Analysts Forecast Growth

HEI has been the subject of a number of research reports. Melius Research set a $350.00 target price on Heico and gave the company a "hold" rating in a research note on Monday, September 14th. Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the stock a "buy" rating in a research report on Wednesday, August 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Heico from $421.00 to $425.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a research report on Saturday, October 3rd. Finally, TD Cowen dropped their target price on shares of Heico from $350.00 to $330.00 and set a "hold" rating for the company in a research note on Friday, October 9th. Two investment 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $387.33.

Heico Stock Up 5.1%

NYSE HEI opened at $326.62 on Friday. The stock has a market capitalization of $45.65 billion, a P/E ratio of 54.35, a price-to-earnings-growth ratio of 2.60 and a beta of 1.09. Heico Corporation has a 52 week low of $256.11 and a 52 week high of $376.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.27 and a current ratio of 2.72. The stock has a fifty day moving average of $312.85 and a 200-day moving average of $320.16.

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

Heico 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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