Teza Capital Management LLC Sells 7,018 Shares of 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 lowered its position in shares of Heico Corporation (NYSE:HEI - Free Report) by 89.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Interval Partners LP acquired a new stake in shares of Heico during the first quarter valued at approximately $3,127,000. Banque Transatlantique SA increased its stake in 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 buying an additional 68 shares during the period. Advisors Asset Management Inc. increased its stake in Heico by 1.3% in the 1st quarter. Advisors Asset Management Inc. now owns 20,517 shares of the aerospace company's stock valued at $5,482,000 after buying an additional 259 shares during the period. PDT Partners LLC increased its stake in Heico by 781.9% in the 1st quarter. PDT Partners LLC now owns 25,576 shares of the aerospace company's stock valued at $6,834,000 after buying an additional 22,676 shares during the period. Finally, Panagora Asset Management Inc. acquired a new position in Heico in the 1st quarter valued at approximately $2,165,000. Institutional investors and hedge funds own 27.12% of the company's stock.

Heico Stock Down 0.6%

Shares of HEI traded down $1.91 during mid-day trading on Friday, hitting $318.91. 201,423 shares of the company's stock were exchanged, compared to its average volume of 450,281. The firm has a fifty day moving average of $317.56 and a two-hundred day moving average of $288.99. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $338.92. The stock has a market cap of $44.40 billion, a price-to-earnings ratio of 69.78, a P/E/G ratio of 3.80 and a beta of 1.08. The company has a quick ratio of 1.51, a current ratio of 3.35 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI - Get Free Report) last announced its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping the consensus estimate 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 net margin of 14.96% and a return on equity of 16.29%. Heico's quarterly revenue was up 15.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.97 EPS. On average, sell-side analysts forecast that Heico Corporation will post 4.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

HEI has been the topic of several research reports. Truist Financial upped their price objective on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a research note on Saturday, August 30th. Bank of America upped their price objective on shares of Heico from $355.00 to $400.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Stifel Nicolaus set a $360.00 price objective on shares of Heico in a research note on Tuesday, August 26th. Finally, Morgan Stanley upped their price objective on shares of Heico from $305.00 to $330.00 and gave the company an "equal weight" rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

Insider Activity

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were 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 directly owned 1,253,127 shares of the company's stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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.