Heico Corporation $HEI Shares Sold by Freedom Day Solutions LLC

Freedom Day Solutions LLC cut its stake in shares of Heico Corporation (NYSE:HEI) by 2.9% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,645 shares of the aerospace company’s stock after selling 283 shares during the period. Heico comprises approximately 0.8% of Freedom Day Solutions LLC’s portfolio, making the stock its 26th largest holding. Freedom Day Solutions LLC’s holdings in Heico were worth $3,164,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optas LLC acquired a new position in Heico in the second quarter valued at approximately $251,000. Roundview Capital LLC boosted its holdings in Heico by 3.5% in the second quarter. Roundview Capital LLC now owns 24,804 shares of the aerospace company’s stock valued at $8,136,000 after purchasing an additional 848 shares in the last quarter. Valley National Advisers Inc. acquired a new position in Heico in the second quarter valued at approximately $114,000. Highland Capital Management LLC acquired a new position in Heico in the second quarter valued at approximately $1,553,000. Finally, Barrett & Company Inc. boosted its holdings in Heico by 1.6% in the second quarter. Barrett & Company Inc. now owns 3,216 shares of the aerospace company’s stock valued at $1,055,000 after purchasing an additional 50 shares in the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Heico

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the company’s stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the sale, the chairman owned 1,253,127 shares in the company, valued at $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.55% of the stock is owned by company insiders.

Heico Price Performance

Shares of NYSE HEI opened at $315.87 on Friday. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. Heico Corporation has a twelve month low of $216.68 and a twelve month high of $338.92. The stock has a 50 day moving average of $317.25 and a two-hundred day moving average of $296.92. The stock has a market cap of $43.97 billion, a P/E ratio of 69.12, a P/E/G ratio of 3.76 and a beta of 1.08.

Heico (NYSE:HEI) last issued its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, research analysts forecast 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 a number of research analyst reports. UBS Group upped their price target on Heico from $346.00 to $375.00 and gave the company a “neutral” rating in a report on Wednesday, August 27th. Royal Bank Of Canada set a $350.00 price target on Heico in a report on Wednesday, August 27th. Truist Financial upped their price target on Heico from $352.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Robert W. Baird upped their price target on Heico from $360.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, August 27th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $382.00 price objective (up previously from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Heico currently has an average rating of “Moderate Buy” and a consensus price target 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.