Riverbridge Partners LLC Sells 92,938 Shares of Heico Corporation $HEI

Key Points

• Riverbridge Partners LLC has reduced its stake in Heico Corporation by 11.5%, now holding 713,376 shares valued at approximately $233.99 million.
• Several institutional investors have made changes to their positions in Heico, with Ridgewood Investments increasing its holdings by 36.5% during the second quarter.
• Analysts have expressed positive sentiments towards Heico, with multiple firms including Jefferies Financial Group and Goldman Sachs reiterating a "buy" rating and setting higher price targets for the stock.

Riverbridge Partners LLC trimmed its position in Heico Corporation (NYSE:HEI - Free Report) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 713,376 shares of the aerospace company's stock after selling 92,938 shares during the quarter. Heico makes up 3.8% of Riverbridge Partners LLC's investment portfolio, making the stock its 3rd largest position. Riverbridge Partners LLC owned approximately 0.51% of Heico worth $233,987,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC raised its holdings in shares of Heico by 36.5% in the 2nd quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company's stock valued at $43,000 after purchasing an additional 35 shares in the last quarter. Banque Transatlantique SA raised its holdings in shares of 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 purchasing an additional 68 shares in the last quarter. Groupama Asset Managment raised its holdings in shares of Heico by 0.5% in the 1st quarter. Groupama Asset Managment now owns 14,438 shares of the aerospace company's stock valued at $3,841,000 after purchasing an additional 71 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Heico by 1.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 6,586 shares of the aerospace company's stock worth $1,760,000 after acquiring an additional 73 shares in the last quarter. Finally, Tidal Investments LLC raised its stake in Heico by 5.2% during the 4th quarter. Tidal Investments LLC now owns 1,638 shares of the aerospace company's stock worth $389,000 after acquiring an additional 81 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Heico in a research note on Monday, August 18th. The Goldman Sachs Group reiterated a "buy" rating and set a $382.00 price target (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Truist Financial lifted their price target on shares of Heico from $352.00 to $366.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Royal Bank Of Canada set a $350.00 price target on shares of Heico in a research note on Wednesday, August 27th. Finally, Bank of America lifted their price target on shares of Heico from $355.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday, September 5th. Nine analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

Heico Trading Down 0.9%

Shares of Heico stock opened at $317.08 on Thursday. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92. 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 company has a market capitalization of $44.14 billion, a P/E ratio of 69.38, a PEG ratio of 3.77 and a beta of 1.08. The company's fifty day moving average is $317.84 and its two-hundred day moving average is $292.31.

Heico (NYSE:HEI - Get Free Report) last issued its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.14. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. Heico had a net margin of 14.96% and a return on equity of 16.29%. The business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.97 earnings per share. Analysts forecast that Heico Corporation will post 4.2 earnings per share for the current year.

Insider Buying and Selling at Heico

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $319.45, for a total value of $17,985,035.00. Following the sale, the chairman owned 1,253,127 shares of the company's stock, valued at $400,311,420.15. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.55% of the stock is currently owned by insiders.

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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