PFG Advisors Sells 7,758 Shares of Heico Corporation $HEI

Key Points

• PFG Advisors cut its stake in Heico by 48.9%, selling 7,758 shares in Q4 and retaining 8,107 shares worth $2.623 million per its latest SEC filing.
• Heico recently beat quarterly estimates with EPS $1.35 vs. $1.26 and revenue of $1.18B (up 14.4% year-over-year), while the company trades at a market cap of $38.44B and a P/E of 54.44.
• Institutional ownership stands at about 27.12%, and analysts hold a consensus rating of "Moderate Buy" with a $358.71 average target (10 Buy, 7 Hold).

PFG Advisors cut its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 48.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,107 shares of the aerospace company's stock after selling 7,758 shares during the quarter. PFG Advisors' holdings in Heico were worth $2,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Groupama Asset Managment increased its holdings in shares of Heico by 24.0% during the third quarter. Groupama Asset Managment now owns 18,139 shares of the aerospace company's stock valued at $5,856,000 after acquiring an additional 3,512 shares in the last quarter. CPC Advisors LLC bought a new position in shares of Heico during the third quarter valued at $2,318,000. Dynamic Technology Lab Private Ltd increased its holdings in shares of Heico by 145.7% during the third quarter. Dynamic Technology Lab Private Ltd now owns 8,134 shares of the aerospace company's stock valued at $2,626,000 after acquiring an additional 4,824 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of Heico by 97.3% during the third quarter. Sumitomo Life Insurance Co. now owns 9,920 shares of the aerospace company's stock valued at $3,202,000 after acquiring an additional 4,892 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Heico during the third quarter valued at $1,745,000. 27.12% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HEI. BNP Paribas Exane upgraded Heico from a "neutral" rating to an "outperform" rating in a report on Friday, February 27th. Susquehanna assumed coverage on Heico in a report on Friday, January 23rd. They issued a "neutral" rating and a $385.00 price objective for the company. Truist Financial lifted their price objective on Heico from $366.00 to $391.00 and gave the stock a "buy" rating in a report on Tuesday, December 23rd. Wall Street Zen downgraded Heico from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Heico in a report on Monday, December 29th. Ten research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $358.71.

Heico Price Performance

NYSE HEI opened at $275.48 on Wednesday. Heico Corporation has a one year low of $237.19 and a one year high of $361.69. The stock has a 50-day moving average of $301.59 and a 200 day moving average of $315.79. The company has a market capitalization of $38.44 billion, a price-to-earnings ratio of 54.44, a PEG ratio of 3.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06.

Heico (NYSE:HEI - Get Free Report) last announced its earnings results on Wednesday, February 25th. The aerospace company reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.09. The business had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.17 billion. Heico had a return on equity of 16.57% and a net margin of 15.38%.The business's revenue for the quarter was up 14.4% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, sell-side analysts forecast that Heico Corporation will post 5.56 EPS for the current year.

Insider Transactions at Heico

In other Heico news, Director Julie Neitzel sold 676 shares of the firm's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $223.00, for a total value of $150,748.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 4.86% of the company's stock.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company's offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.

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