MinichMacGregor Wealth Management LLC Sells 13,284 Shares of Heico Corporation $HEI

Key Points

• MinichMacGregor Wealth Management LLC reduced its stake in Heico Corporation by 34.5%, selling 13,284 shares, which now represent 1.8% of its portfolio valued at approximately $8.26 million.
• Heico's Chairman, Laurans A. Mendelson, sold 56,300 shares on July 15, resulting in a 4.3% decrease in his position, with remaining shares valued at over $400 million.
• Multiple brokerages have raised their target prices for Heico, with Bank of America setting a new price target of $400, reflecting strong optimism among analysts about the company's future performance.

MinichMacGregor Wealth Management LLC trimmed its position in Heico Corporation (NYSE:HEI - Free Report) by 34.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,191 shares of the aerospace company's stock after selling 13,284 shares during the period. Heico makes up approximately 1.8% of MinichMacGregor Wealth Management LLC's portfolio, making the stock its 28th biggest position. MinichMacGregor Wealth Management LLC's holdings in Heico were worth $8,263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC increased its position in Heico by 92.0% in the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after buying an additional 46 shares in the last quarter. Costello Asset Management INC bought a new stake in Heico in the 1st quarter valued at about $27,000. NBC Securities Inc. bought a new stake in Heico in the 1st quarter valued at about $27,000. Caitong International Asset Management Co. Ltd increased its position in Heico by 17,800.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after buying an additional 178 shares in the last quarter. Finally, Banque Transatlantique SA increased its position in Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock valued at $62,000 after buying an additional 68 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

Insider Buying and Selling at Heico

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 value of $17,985,035.00. Following the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 9.55% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HEI. Robert W. Baird boosted their target price on Heico from $360.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Wells Fargo & Company boosted their target price on Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Bank of America boosted their target price on Heico from $355.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Morgan Stanley boosted their price objective on Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Finally, Zacks Research raised Heico to a "hold" rating in a report on Monday, August 11th. Nine investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $346.09.

Heico Stock Performance

Shares of HEI opened at $320.19 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. The stock has a 50 day moving average price of $317.73 and a two-hundred day moving average price of $293.19. The firm has a market capitalization of $44.57 billion, a P/E ratio of 70.06, a P/E/G ratio of 3.74 and a beta of 1.08. Heico Corporation has a 52 week low of $216.68 and a 52 week high of $338.92.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.97 EPS. The company's revenue for the quarter was up 15.7% on a year-over-year basis. Equities analysts forecast that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

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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