HEICO Co. (NYSE:HEI) Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its position in HEICO Co. (NYSE:HEI - Free Report) by 80.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,662 shares of the aerospace company's stock after selling 98,878 shares during the period. Lord Abbett & CO. LLC's holdings in HEICO were worth $5,625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HEI. Wealthfront Advisers LLC grew its holdings in HEICO by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock valued at $5,285,970,000 after buying an additional 22,224,106 shares during the last quarter. River Global Investors LLP purchased a new stake in shares of HEICO in the fourth quarter valued at $16,073,000. Fisher Asset Management LLC boosted its stake in shares of HEICO by 19.1% during the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company's stock valued at $98,791,000 after acquiring an additional 66,583 shares during the last quarter. EULAV Asset Management increased its position in HEICO by 12.8% during the 4th quarter. EULAV Asset Management now owns 453,693 shares of the aerospace company's stock worth $107,861,000 after purchasing an additional 51,500 shares in the last quarter. Finally, Vantage Investment Partners LLC raised its stake in HEICO by 31.0% in the 4th quarter. Vantage Investment Partners LLC now owns 160,373 shares of the aerospace company's stock valued at $38,127,000 after purchasing an additional 37,943 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on HEI shares. KeyCorp assumed coverage on HEICO in a research report on Thursday, January 16th. They set a "sector weight" rating on the stock. William Blair reissued 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 research report on Tuesday, April 15th. They set an "equal weight" rating and a $244.00 price target for the company. Finally, Truist Financial decreased their price target on shares of HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $267.36.

Insider Activity

In related news, Director Alan Schriesheim sold 50,000 shares of the stock in a transaction dated Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total value of $11,978,500.00. Following the completion of the transaction, the director now owns 157,197 shares of the company's stock, valued at approximately $37,659,685.29. This represents a 24.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Julie Neitzel sold 700 shares of the company'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 value of $172,361.00. Following the completion of the transaction, the director now directly owns 418 shares in the company, valued at approximately $102,924.14. The trade was a 62.61 % 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 Stock Up 2.0 %

NYSE:HEI traded up $5.12 during mid-day trading on Friday, hitting $262.31. The company had a trading volume of 418,951 shares, compared to its average volume of 465,750. HEICO Co. has a 1 year low of $207.50 and a 1 year high of $283.60. The business has a fifty day simple moving average of $254.31 and a 200-day simple moving average of $249.83. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $36.45 billion, a price-to-earnings ratio of 71.67, a PEG ratio of 3.10 and a beta of 1.07.

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