Freestone Grove Partners LP Takes Position in HEICO Co. (NYSE:HEI)

Freestone Grove Partners LP purchased a new position in HEICO Co. (NYSE:HEI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 298,770 shares of the aerospace company's stock, valued at approximately $71,030,000. HEICO makes up approximately 0.9% of Freestone Grove Partners LP's portfolio, making the stock its 15th biggest holding. Freestone Grove Partners LP owned 0.22% of HEICO at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. World Investment Advisors LLC bought a new stake in HEICO during the third quarter worth $315,000. Tidal Investments LLC increased its holdings in shares of HEICO by 7.9% during the third quarter. Tidal Investments LLC now owns 1,557 shares of the aerospace company's stock worth $407,000 after purchasing an additional 114 shares during the period. Synovus Financial Corp increased its position in shares of HEICO by 31.7% in the third quarter. Synovus Financial Corp now owns 1,975 shares of the aerospace company's stock worth $516,000 after purchasing an additional 475 shares during the period. Legacy Wealth Management LLC MS bought a new stake in shares of HEICO during the 3rd quarter worth approximately $214,000. Finally, Everence Capital Management Inc. bought a new position in shares of HEICO in the 4th quarter valued at $1,681,000. Institutional investors own 27.12% of the company's stock.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of recent research reports. KeyCorp started coverage on HEICO in a research note on Thursday, January 16th. They set a "sector weight" rating on the stock. William Blair reaffirmed an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Wells Fargo & Company began coverage on shares of HEICO in a report on Tuesday, April 15th. They set an "equal weight" rating and a $244.00 price objective on the stock. Finally, Truist Financial lowered their price objective on shares of HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $267.36.

HEICO Stock Up 0.8 %

Shares of HEI traded up $1.99 during trading hours on Monday, hitting $264.35. The company had a trading volume of 346,711 shares, compared to its average volume of 466,737. The company's fifty day moving average price is $255.00 and its two-hundred day moving average price is $249.62. The company has a market capitalization of $36.73 billion, a PE ratio of 72.23, a price-to-earnings-growth ratio of 3.10 and a beta of 1.05. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. HEICO Co. has a one year low of $207.82 and a one year high of $283.60.

HEICO (NYSE:HEI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The aerospace company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.27. The company had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $983.10 million. HEICO had a return on equity of 14.63% and a net margin of 13.33%. As a group, equities analysts forecast that HEICO Co. will post 4.2 earnings per share for the current fiscal year.

Insider Transactions at HEICO

In other news, Director Julie Neitzel sold 700 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the completion of the sale, the director now owns 418 shares in the company, valued at approximately $102,924.14. The trade was a 62.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Schriesheim sold 50,000 shares of HEICO stock in a transaction on Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the completion of the transaction, the director now owns 157,197 shares in the company, valued at approximately $37,659,685.29. This represents a 24.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.