Virtu Financial LLC bought a new position in Heico Corp (NYSE:HEI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,039 shares of the aerospace company’s stock, valued at approximately $1,671,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in HEI. Gradient Investments LLC bought a new position in shares of Heico in the third quarter worth about $116,000. Financial Architects Inc bought a new position in shares of Heico in the second quarter worth about $123,000. TRUE Private Wealth Advisors bought a new position in shares of Heico in the third quarter worth about $151,000. Oppenheimer & Co. Inc. bought a new position in shares of Heico in the third quarter worth about $201,000. Finally, FineMark National Bank & Trust bought a new position in shares of Heico in the second quarter worth about $208,000. 25.62% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. Canaccord Genuity boosted their target price on shares of Heico from $84.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, August 29th. ValuEngine cut shares of Heico from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. UBS Group initiated coverage on shares of Heico in a research report on Wednesday, August 15th. They set a “neutral” rating and a $83.00 price target for the company. Jefferies Financial Group lifted their price target on shares of Heico to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Finally, SunTrust Banks lifted their price target on shares of Heico from $76.00 to $85.00 and gave the stock a “buy” rating in a research report on Tuesday, August 21st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $88.60.
Heico (NYSE:HEI) last issued its quarterly earnings results on Monday, August 27th. The aerospace company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. The company had revenue of $465.83 million during the quarter, compared to analysts’ expectations of $440.68 million. Heico had a net margin of 14.26% and a return on equity of 16.15%. Heico’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. As a group, equities research analysts forecast that Heico Corp will post 1.89 earnings per share for the current fiscal year.
In related news, Director Alan Schriesheim sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $76.44, for a total transaction of $305,760.00. Following the completion of the transaction, the director now owns 28,700 shares in the company, valued at $2,193,828. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas M. Culligan acquired 1,312 shares of the firm’s stock in a transaction that occurred on Tuesday, October 9th. The shares were purchased at an average price of $88.21 per share, with a total value of $115,731.52. The disclosure for this purchase can be found here. 9.88% of the stock is currently owned by insiders.
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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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.
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