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

Neo Ivy Capital Management bought a new stake in HEICO Co. (NYSE:HEI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,854 shares of the aerospace company's stock, valued at approximately $440,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC grew its position in HEICO by 5.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company's stock valued at $231,000 after acquiring an additional 46 shares during the period. Moran Wealth Management LLC grew its position in HEICO by 1.9% during the fourth quarter. Moran Wealth Management LLC now owns 2,687 shares of the aerospace company's stock valued at $639,000 after acquiring an additional 51 shares during the period. United Capital Financial Advisors LLC grew its position in HEICO by 5.7% during the fourth quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company's stock valued at $248,000 after acquiring an additional 56 shares during the period. Moody Lynn & Lieberson LLC grew its position in HEICO by 1.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 4,251 shares of the aerospace company's stock valued at $1,011,000 after acquiring an additional 65 shares during the period. Finally, Bradley Foster & Sargent Inc. CT grew its position in HEICO by 2.4% during the fourth quarter. Bradley Foster & Sargent Inc. CT now owns 2,805 shares of the aerospace company's stock valued at $667,000 after acquiring an additional 67 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HEI has been the subject of a number of recent research reports. Truist Financial lowered their target price on HEICO from $294.00 to $277.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company initiated coverage on HEICO in a research note on Tuesday, April 15th. They issued an "equal weight" rating and a $244.00 target price for the company. Finally, William Blair reiterated 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 company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $267.36.

HEICO Stock Performance

NYSE:HEI traded up $5.93 during midday trading on Tuesday, reaching $273.98. The stock had a trading volume of 784,465 shares, compared to its average volume of 474,781. HEICO Co. has a 1-year low of $211.92 and a 1-year high of $283.60. The firm's fifty day simple moving average is $258.66 and its 200-day simple moving average is $251.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. The stock has a market capitalization of $38.07 billion, a P/E ratio of 74.86, a PEG ratio of 3.10 and a beta of 1.05.

HEICO (NYSE:HEI - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.09. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the business posted $0.88 EPS. On average, equities research analysts forecast that HEICO Co. will post 4.2 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julie Neitzel sold 700 shares of HEICO stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the transaction, the director now directly owns 418 shares of the company's stock, valued at $102,924.14. This trade represents a 62.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alan Schriesheim sold 50,000 shares of the business's stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction 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. This represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.