Neo Ivy Capital Management Takes $440,000 Position in HEICO Co. (NYSE:HEI)

Neo Ivy Capital Management acquired a new stake in shares of HEICO Co. (NYSE:HEI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,854 shares of the aerospace company's stock, valued at approximately $440,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wealthfront Advisers LLC lifted its holdings in shares of HEICO by 219,129.4% during the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after purchasing an additional 22,224,106 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in HEICO in the 4th quarter valued at $110,503,000. Freestone Grove Partners LP bought a new position in HEICO in the 4th quarter valued at $71,030,000. Squarepoint Ops LLC increased its holdings in HEICO by 2,203.0% in the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock valued at $20,691,000 after purchasing an additional 83,251 shares during the last quarter. Finally, River Global Investors LLP bought a new stake in shares of HEICO in the fourth quarter worth about $16,073,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

HEICO Trading Up 1.2%

Shares of NYSE HEI traded up $3.62 during trading hours on Thursday, hitting $297.97. The company's stock had a trading volume of 285,540 shares, compared to its average volume of 477,407. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11. The stock has a market cap of $41.40 billion, a price-to-earnings ratio of 81.40, a P/E/G ratio of 3.10 and a beta of 1.05. HEICO Co. has a 12 month low of $212.06 and a 12 month high of $300.00. The business has a 50-day simple moving average of $259.57 and a 200-day simple moving average of $251.93.

HEICO (NYSE:HEI - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The business's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 EPS. On average, analysts anticipate that HEICO Co. will post 4.2 earnings per share for the current fiscal year.

Insider Activity

In other HEICO news, Director Alan Schriesheim sold 50,000 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total value of $11,978,500.00. Following the sale, the director now owns 157,197 shares in the company, valued at $37,659,685.29. The trade was a 24.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie Neitzel sold 700 shares of the business's stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction 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. The trade was a 62.61% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.55% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on HEI. Wells Fargo & Company started coverage on HEICO in a research note on Tuesday, April 15th. They set an "equal weight" rating and a $244.00 target price on the stock. Truist Financial dropped their price target on HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, William Blair reissued an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $267.36.

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.