Man Group plc bought a new stake in HEICO Co. (NYSE:HEI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,113 shares of the aerospace company's stock, valued at approximately $265,000.
Other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC increased its holdings in shares of HEICO by 219,129.4% in the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after acquiring an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of HEICO in the 4th quarter valued at approximately $110,503,000. Freestone Grove Partners LP bought a new stake in shares of HEICO in the 4th quarter valued at approximately $71,030,000. River Global Investors LLP bought a new stake in shares of HEICO in the 4th quarter valued at approximately $16,073,000. Finally, Fisher Asset Management LLC increased its holdings in shares of HEICO by 19.1% in the 4th quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company's stock valued at $98,791,000 after acquiring an additional 66,583 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other HEICO news, Director Julie Neitzel sold 700 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the completion of the sale, the director now owns 418 shares in the company, valued at approximately $102,924.14. This trade represents a 62.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total value of $11,978,500.00. Following the completion of the transaction, the director now directly owns 157,197 shares of the company's stock, valued at approximately $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 9.55% of the company's stock.
HEICO Stock Performance
NYSE:HEI traded down $0.72 during mid-day trading on Friday, hitting $299.45. 849,998 shares of the company's stock traded hands, compared to its average volume of 479,453. The firm has a 50 day moving average of $260.79 and a two-hundred day moving average of $252.43. HEICO Co. has a 12 month low of $215.28 and a 12 month high of $303.32. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 81.82, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.
HEICO (NYSE:HEI - Get Free Report) last announced its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company earned $0.88 EPS. The firm's revenue for the quarter was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that HEICO Co. will post 4.2 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on HEI. Wells Fargo & Company upped their price objective on HEICO from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday. William Blair restated an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. UBS Group upped their price objective on HEICO from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday. Finally, Truist Financial lowered their price objective on HEICO from $294.00 to $277.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, HEICO presently has a consensus rating of "Moderate Buy" and a consensus target price of $273.09.
Read Our Latest Stock Analysis on HEICO
About HEICO
(
Free Report)
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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