Teza Capital Management LLC Decreases Position in Heico Corporation $HEI

Key Points

• Teza Capital Management LLC reduced its stake in Heico Corporation by 89.3%, now owning 844 shares valued at $226,000 after selling 7,018 shares in the first quarter.
• Heico's recent earnings report showed a profit of $1.26 EPS, exceeding analysts' expectations, with revenue up by 15.7% year-over-year.
• Institutional investors collectively hold 27.12% of Heico’s stock, and various firms have made significant adjustments to their stakes, indicating a lot of activity among investors.

Teza Capital Management LLC trimmed its holdings in shares of Heico Corporation (NYSE:HEI - Free Report) by 89.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 844 shares of the aerospace company's stock after selling 7,018 shares during the quarter. Teza Capital Management LLC's holdings in Heico were worth $226,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP acquired a new stake in shares of Heico during the 1st quarter worth about $7,612,000. Baker Avenue Asset Management LP purchased a new position in Heico during the 1st quarter valued at about $345,000. Freedom Day Solutions LLC purchased a new position in Heico during the 1st quarter valued at about $2,653,000. Praxis Investment Management Inc. boosted its holdings in Heico by 24.9% during the 1st quarter. Praxis Investment Management Inc. now owns 8,830 shares of the aerospace company's stock valued at $2,359,000 after acquiring an additional 1,760 shares during the period. Finally, Vantage Investment Partners LLC boosted its holdings in Heico by 1.1% during the 1st 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 during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HEI shares. Stifel Nicolaus set a $360.00 target price on Heico in a report on Tuesday, August 26th. UBS Group raised their target price on Heico from $346.00 to $375.00 and gave the company a "neutral" rating in a report on Wednesday, August 27th. Wall Street Zen upgraded Heico from a "hold" rating to a "buy" rating in a report on Saturday, August 30th. Royal Bank Of Canada set a $350.00 target price on Heico in a report on Wednesday, August 27th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Heico in a report on Monday, August 18th. Nine research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $346.09.

Insiders Place Their Bets

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the chairman owned 1,253,127 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 9.55% of the stock is currently owned by insiders.

Heico Stock Up 1.7%

Shares of HEI traded up $5.41 during midday trading on Monday, hitting $324.30. The company had a trading volume of 26,658 shares, compared to its average volume of 506,199. The company's 50-day simple moving average is $317.56 and its 200-day simple moving average is $289.62. 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 firm has a market capitalization of $45.15 billion, a P/E ratio of 70.93, a P/E/G ratio of 3.77 and a beta of 1.08. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The business's quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. As a group, sell-side analysts expect that Heico Corporation will post 4.2 EPS for the current year.

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.