6,102 Heico Corporation $HEI Shares Sold by Congress Asset Management Co.

Congress Asset Management Co. lessened its stake in Heico Corporation (NYSE:HEI) by 2.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 204,653 shares of the aerospace company’s stock after selling 6,102 shares during the quarter. Congress Asset Management Co.’s holdings in Heico were worth $62,047,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HEI. Diamant Asset Management Inc. raised its position in shares of Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after buying an additional 760,687 shares in the last quarter. Munro Partners grew its position in Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after acquiring an additional 87,265 shares in the last quarter. Weitz Investment Management Inc. purchased a new position in Heico in the second quarter worth $52,737,000. Bank of New York Mellon Corp bought a new position in Heico in the second quarter valued at $54,386,000. Finally, Freestone Grove Partners LP bought a new position in Heico in the second quarter valued at $50,276,000. Institutional investors own 27.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HEI shares. Stifel Nicolaus set a $410.00 price target on Heico in a research note on Thursday, August 27th. Zacks Research upgraded Heico from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Wells Fargo & Company decreased their price objective on Heico from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. The Goldman Sachs Group reissued a “buy” rating and set a $491.00 price objective on shares of Heico in a report on Monday, August 31st. Finally, Jefferies Financial Group set a $430.00 target price on Heico and gave the stock a “buy” rating in a research note on Wednesday, August 26th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $391.07.

Heico Trading Up 0.6%

Heico stock traded up $1.76 during trading hours on Tuesday, reaching $303.33. The company had a trading volume of 424,681 shares, compared to its average volume of 582,324. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The company has a 50-day moving average price of $334.27 and a 200 day moving average price of $319.47. The firm has a market cap of $42.39 billion, a price-to-earnings ratio of 50.47, a P/E/G ratio of 2.55 and a beta of 1.09. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86.

Heico (NYSE:HEI) last announced its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.16. Heico had a return on equity of 18.00% and a net margin of 16.38%.The firm had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. Equities analysts forecast that Heico Corporation will post 6.25 earnings per share for the current year.

Heico Profile

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.