Roundview Capital LLC Raises Stake in Heico Corporation $HEI

Key Points

• Roundview Capital LLC increased its stake in Heico Corporation by 3.5%, owning 24,804 shares valued at approximately $8.14 million as of the latest reporting period.
• Several institutional investors, including EULAV Asset Management and Congress Asset Management Co., have also significantly boosted their positions in Heico, indicating increased investor confidence.
• Heico reported better-than-expected quarterly earnings, with EPS of $1.26, surpassing consensus estimates, alongside a 15.7% year-over-year increase in revenue.

Roundview Capital LLC grew its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,804 shares of the aerospace company's stock after purchasing an additional 848 shares during the period. Roundview Capital LLC's holdings in Heico were worth $8,136,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EULAV Asset Management boosted its position in shares of Heico by 1.8% in the 1st quarter. EULAV Asset Management now owns 461,693 shares of the aerospace company's stock worth $123,360,000 after buying an additional 8,000 shares in the last quarter. American Century Companies Inc. increased its position in Heico by 11.3% during the 1st quarter. American Century Companies Inc. now owns 312,615 shares of the aerospace company's stock worth $83,528,000 after purchasing an additional 31,834 shares in the last quarter. Congress Asset Management Co. increased its position in Heico by 366.0% during the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company's stock worth $101,174,000 after purchasing an additional 242,264 shares in the last quarter. Vantage Investment Partners LLC grew its position in Heico by 1.1% in the first quarter. Vantage Investment Partners LLC now owns 162,145 shares of the aerospace company's stock valued at $43,324,000 after acquiring an additional 1,772 shares in the last quarter. Finally, Mackenzie Financial Corp acquired a new stake in Heico in the first quarter valued at approximately $40,949,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HEI has been the subject of several recent research reports. Truist Financial increased their price objective on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Weiss Ratings restated a "buy (b-)" rating on shares of Heico in a research note on Saturday, September 27th. Barclays increased their target price on Heico from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research report on Tuesday, September 2nd. Jefferies Financial Group reaffirmed a "buy" rating on shares of Heico in a research report on Monday, August 18th. Finally, UBS Group increased their target price on Heico from $346.00 to $375.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 27th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $346.09.

Insider Transactions at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the transaction, the chairman directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 9.55% of the stock is currently owned by insiders.

Heico Price Performance

Shares of HEI opened at $322.26 on Tuesday. The firm has a market capitalization of $44.86 billion, a price-to-earnings ratio of 70.52, a price-to-earnings-growth ratio of 3.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.51 and a current ratio of 3.35. Heico Corporation has a one year low of $216.68 and a one year high of $338.92. The stock's fifty day moving average is $317.67 and its 200-day moving average is $296.27.

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

About Heico

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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