Inspire Investing LLC Makes New Investment in Heico Corporation $HEI

Key Points

• Inspire Investing LLC has acquired a new position in Heico Corporation, purchasing 2,775 shares valued at approximately $910,000 during the second quarter.
• Heico's recent quarterly earnings showed an EPS of $1.26, exceeding the consensus estimate by $0.14, with a revenue of $1.15 billion, marking a 15.7% year-over-year increase.
• Analysts have set various target prices for Heico, with Barclays raising their target from $280 to $300 and Zacks Research upgrading the stock to a "hold" rating.

Inspire Investing LLC acquired a new position in Heico Corporation (NYSE:HEI - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,775 shares of the aerospace company's stock, valued at approximately $910,000.

Other institutional investors have also added to or reduced their stakes in the company. Artemis Investment Management LLP bought a new position in Heico in the 1st quarter worth $7,612,000. Baker Avenue Asset Management LP bought a new position in Heico in the 1st quarter worth $345,000. Freedom Day Solutions LLC purchased a new stake in shares of Heico in the 1st quarter worth about $2,653,000. Praxis Investment Management Inc. grew its position in shares of Heico by 24.9% in the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock worth $2,359,000 after buying an additional 1,760 shares during the period. Finally, Global Trust Asset Management LLC grew its position in shares of Heico by 145.2% in the 2nd quarter. Global Trust Asset Management LLC now owns 4,610 shares of the aerospace company's stock worth $1,512,000 after buying an additional 2,730 shares during the period. 27.12% of the stock is currently owned by institutional investors.

Heico Stock Performance

Shares of HEI stock opened at $307.29 on Friday. Heico Corporation has a one year low of $216.68 and a one year high of $338.92. The company's 50-day moving average is $316.89 and its 200 day moving average is $297.36. The company has a market capitalization of $42.78 billion, a price-to-earnings ratio of 67.24, a price-to-earnings-growth ratio of 3.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the firm posted $0.97 EPS. Heico's revenue for the quarter was up 15.7% on a year-over-year basis. Sell-side analysts expect that Heico Corporation will post 4.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HEI. Barclays upped their target price on shares of Heico from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Stifel Nicolaus set a $360.00 target price on shares of Heico in a research report on Tuesday, August 26th. Truist Financial upped their target price on shares of Heico from $352.00 to $366.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Zacks Research raised shares of Heico to a "hold" rating in a research report on Monday, August 11th. Finally, UBS Group upped their target price on shares of Heico from $346.00 to $375.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 27th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $346.09.

Insider Transactions at Heico

In other Heico news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman owned 1,253,127 shares in the company, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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