Highland Capital Management LLC Acquires New Shares in Heico Corporation $HEI

Key Points

• Highland Capital Management LLC acquired 4,736 shares of Heico Corporation valued at approximately $1.55 million, marking a notable investment in the aerospace sector.
• Heico's quarterly earnings surpassed expectations with an EPS of $1.26, and revenues increased by 15.7% year-over-year to reach $1.15 billion.
• Analysts rate Heico stock with a consensus of "Moderate Buy" and a price target averaging $346.09, indicating positive sentiment in the market.

Highland Capital Management LLC acquired a new position in shares of Heico Corporation (NYSE:HEI - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,736 shares of the aerospace company's stock, valued at approximately $1,553,000.

A number of other hedge funds have also recently added to or reduced their stakes in HEI. NBC Securities Inc. acquired a new position in shares of Heico during the first quarter worth $27,000. Congress Asset Management Co. increased its holdings in Heico by 1.3% in the 1st quarter. Congress Asset Management Co. now owns 66,193 shares of the aerospace company's stock worth $17,686,000 after purchasing an additional 828 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Heico in the first quarter valued at about $177,000. SG Americas Securities LLC boosted its stake in shares of Heico by 123.4% during the first quarter. SG Americas Securities LLC now owns 1,613 shares of the aerospace company's stock valued at $431,000 after purchasing an additional 891 shares in the last quarter. Finally, Atwood & Palmer Inc. bought a new stake in shares of Heico during the first quarter worth about $80,000. Institutional investors and hedge funds own 27.12% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HEI shares. Weiss Ratings reiterated a "buy (b-)" rating on shares of Heico in a research report on Saturday, September 27th. Robert W. Baird lifted their price target on shares of Heico from $360.00 to $400.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Zacks Research upgraded Heico to a "hold" rating in a report on Monday, August 11th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Heico in a report on Monday, August 18th. Finally, Royal Bank Of Canada set a $350.00 price target on Heico in a research note on Wednesday, August 27th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $346.09.

Heico Trading Up 0.9%

NYSE:HEI opened at $320.72 on Monday. Heico Corporation has a 12 month low of $216.68 and a 12 month high of $338.92. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $44.65 billion, a price-to-earnings ratio of 70.18, a PEG ratio of 3.76 and a beta of 1.08. The firm has a fifty day simple moving average of $317.70 and a two-hundred day simple moving average of $295.84.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.11 billion. Heico had a net margin of 14.96% and a return on equity of 16.29%. The business's revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. Analysts expect that Heico Corporation will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the sale, the chairman owned 1,253,127 shares in the company, valued at $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 9.55% of the company's stock.

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.

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