Wealthspire Advisors LLC Has $218,000 Stake in HEICO Co. (NYSE:HEI)

Wealthspire Advisors LLC trimmed its holdings in HEICO Co. (NYSE:HEI) by 7.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,562 shares of the aerospace company’s stock after selling 124 shares during the period. Wealthspire Advisors LLC’s holdings in HEICO were worth $218,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC bought a new stake in HEICO in the second quarter valued at approximately $35,343,000. Baird Financial Group Inc. raised its stake in HEICO by 35.6% in the second quarter. Baird Financial Group Inc. now owns 504,688 shares of the aerospace company’s stock valued at $70,364,000 after buying an additional 132,573 shares during the period. ARK Investment Management LLC raised its stake in HEICO by 678.1% in the second quarter. ARK Investment Management LLC now owns 44,790 shares of the aerospace company’s stock valued at $6,245,000 after buying an additional 39,034 shares during the period. TCW Group Inc. raised its stake in HEICO by 28.2% in the second quarter. TCW Group Inc. now owns 153,129 shares of the aerospace company’s stock valued at $21,349,000 after buying an additional 33,661 shares during the period. Finally, HRT Financial LP bought a new position in shares of HEICO during the first quarter worth approximately $2,521,000. 25.19% of the stock is owned by institutional investors.

Shares of NYSE:HEI opened at $134.43 on Thursday. The company has a market capitalization of $18.20 billion, a P/E ratio of 66.22, a P/E/G ratio of 5.91 and a beta of 1.26. HEICO Co. has a 1 year low of $102.64 and a 1 year high of $148.95. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.93 and a quick ratio of 2.19. The business’s 50 day simple moving average is $129.73 and its 200 day simple moving average is $134.54.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Monday, August 23rd. The aerospace company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. The business had revenue of $471.71 million for the quarter, compared to the consensus estimate of $486.48 million. HEICO had a return on equity of 13.24% and a net margin of 15.74%. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, sell-side analysts anticipate that HEICO Co. will post 2.16 EPS for the current fiscal year.

In other HEICO news, Director Adolfo Henriques bought 925 shares of HEICO stock in a transaction on Wednesday, September 8th. The shares were purchased at an average price of $112.13 per share, with a total value of $103,720.25. Following the acquisition, the director now owns 1,100 shares in the company, valued at approximately $123,343. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eric A. Mendelson bought 834 shares of HEICO stock in a transaction on Wednesday, September 8th. The stock was acquired at an average cost of $124.89 per share, for a total transaction of $104,158.26. Following the acquisition, the insider now owns 1,068,199 shares in the company, valued at approximately $133,407,373.11. The disclosure for this purchase can be found here. Corporate insiders own 8.39% of the company’s stock.

HEI has been the topic of a number of recent research reports. Zacks Investment Research upgraded HEICO from a “hold” rating to a “buy” rating and set a $139.00 target price on the stock in a research note on Tuesday, July 20th. Truist increased their target price on HEICO from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, August 26th. They noted that the move was a valuation call. Truist Securities increased their target price on HEICO from $120.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, August 26th. Finally, Bank of America upgraded HEICO from an “underperform” rating to a “neutral” rating and set a $135.00 target price on the stock in a research note on Wednesday, September 8th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $135.86.

About HEICO

HEICO Corp. engages in the design, manufacture, and sale of aerospace, defense, and electronic related products and services. It operates through the Flight Support Group and Electronic Technologies Group segments. The Flight Support Group segment designs, manufactures, repairs, overhauls, and distributes jet engine and aircraft component replacement parts.

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Institutional Ownership by Quarter for HEICO (NYSE:HEI)

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