Heico Corporation $HEI Shares Sold by Trust Point Inc.

Key Points

• Trust Point Inc. reduced its stake in Heico Corporation by 38.6%, selling 1,791 shares in Q2, leaving them with a total of 2,843 shares valued at $933,000.
• Chairman Laurans A. Mendelson sold 56,300 shares at an average price of $319.45, reducing his ownership by 4.30% and retaining approximately 1.25 million shares valued at $400 million.
• Analyst price targets for Heico have been raised, with Bank of America and Robert W. Baird setting targets at $400.00, while overall the stock holds a "+Moderate Buy+" average rating.

Trust Point Inc. trimmed its stake in shares of Heico Corporation (NYSE:HEI - Free Report) by 38.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,843 shares of the aerospace company's stock after selling 1,791 shares during the quarter. Trust Point Inc.'s holdings in Heico were worth $933,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Ridgewood Investments LLC boosted its holdings in Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after purchasing an additional 46 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Heico in the first quarter valued at approximately $27,000. NBC Securities Inc. bought a new position in shares of Heico in the first quarter valued at approximately $27,000. Caitong International Asset Management Co. Ltd raised its stake in shares of Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. Finally, Banque Transatlantique SA raised its position in Heico by 36.8% in the 1st quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock worth $62,000 after purchasing an additional 68 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Heico

In related news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction on 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 approximately $400,311,420.15. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.55% of the stock is currently owned by company insiders.

Heico Price Performance

Heico stock traded down $3.31 during mid-day trading on Tuesday, reaching $316.91. The company had a trading volume of 64,367 shares, compared to its average volume of 500,581. The company has a market cap of $44.12 billion, a P/E ratio of 69.34, a P/E/G ratio of 3.75 and a beta of 1.08. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $317.85 and a 200 day simple moving average of $291.95. Heico Corporation has a fifty-two week low of $216.68 and a fifty-two week high of $338.92.

Heico (NYSE:HEI - Get Free Report) last posted its 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. Heico had a net margin of 14.96% and a return on equity of 16.29%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period last year, the company posted $0.97 EPS. The company's quarterly revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Heico Corporation will post 4.2 earnings per share for the current year.

Analysts Set New Price Targets

HEI has been the subject of several research analyst reports. Morgan Stanley boosted their price objective on shares of Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Wells Fargo & Company upped their target price on shares of Heico from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Royal Bank Of Canada set a $350.00 target price on shares of Heico in a research report on Wednesday, August 27th. The Goldman Sachs Group reiterated a "buy" rating and set a $382.00 target price (up previously from $337.00) on shares of Heico in a research report on Wednesday, August 27th. Finally, Wall Street Zen upgraded shares of Heico from a "hold" rating to a "buy" rating in a research report on Saturday, August 30th. Nine analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $346.09.

Heico Company 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.