Concorde Asset Management LLC Has $1.58 Million Stake in Heico Corporation (HEI)

Concorde Asset Management LLC lifted its stake in shares of Heico Corporation (NYSE:HEI) by 72.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,585 shares of the aerospace company’s stock after acquiring an additional 7,366 shares during the period. Heico Corporation accounts for approximately 1.4% of Concorde Asset Management LLC’s portfolio, making the stock its 14th biggest position. Concorde Asset Management LLC’s holdings in Heico Corporation were worth $1,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of HEI. Riverbridge Partners LLC increased its position in shares of Heico Corporation by 21.8% during the 2nd quarter. Riverbridge Partners LLC now owns 1,621,457 shares of the aerospace company’s stock worth $116,486,000 after purchasing an additional 290,014 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Heico Corporation by 20.7% during the 2nd quarter. Fisher Asset Management LLC now owns 1,170,462 shares of the aerospace company’s stock worth $84,086,000 after purchasing an additional 200,591 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Heico Corporation by 3.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 674,898 shares of the aerospace company’s stock worth $48,483,000 after purchasing an additional 24,299 shares during the last quarter. Ardevora Asset Management LLP increased its position in shares of Heico Corporation by 32.9% during the 2nd quarter. Ardevora Asset Management LLP now owns 524,323 shares of the aerospace company’s stock worth $37,667,000 after purchasing an additional 129,823 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Heico Corporation by 42.7% during the 2nd quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock worth $30,125,000 after purchasing an additional 125,544 shares during the last quarter. Institutional investors and hedge funds own 26.14% of the company’s stock.

In other news, Director Mark H. Hildebrandt purchased 1,316 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was bought at an average cost of $76.13 per share, for a total transaction of $100,187.08. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas S. Irwin sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $76.28, for a total value of $1,525,600.00. Following the sale, the vice president now owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The disclosure for this sale can be found here. Corporate insiders own 9.76% of the company’s stock.

HEI has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Heico Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 25th. Credit Suisse Group reissued an “outperform” rating and set a $98.00 price objective (up from $85.00) on shares of Heico Corporation in a research report on Tuesday, August 29th. Bank of America Corporation raised Heico Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $75.00 to $95.00 in a research report on Tuesday, August 29th. Canaccord Genuity raised their price objective on Heico Corporation from $91.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG downgraded Heico Corporation from a “buy” rating to a “hold” rating and raised their price objective for the stock from $80.00 to $86.00 in a research report on Wednesday, August 16th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $91.67.

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Heico Corporation (NYSE:HEI) last announced its quarterly earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. Heico Corporation had a return on equity of 15.56% and a net margin of 12.04%. The firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 earnings per share.

Heico Corporation Company Profile

HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.

Institutional Ownership by Quarter for Heico Corporation (NYSE:HEI)

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