Trust Point Inc. Buys New Position in HEICO Co. (NYSE:HEI)

Trust Point Inc. bought a new position in HEICO Co. (NYSE:HEI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,013 shares of the aerospace company’s stock, valued at approximately $265,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Clear Harbor Asset Management LLC lifted its position in shares of HEICO by 0.4% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock valued at $5,109,000 after acquiring an additional 80 shares during the period. Avalon Capital Management raised its holdings in shares of HEICO by 3.5% during the second quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock valued at $808,000 after purchasing an additional 123 shares during the period. Verity Asset Management Inc. grew its stake in shares of HEICO by 2.2% in the 1st quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock valued at $1,222,000 after buying an additional 139 shares during the period. Avantax Advisory Services Inc. increased its position in HEICO by 12.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,437 shares of the aerospace company’s stock valued at $275,000 after buying an additional 164 shares in the last quarter. Finally, Calamos Wealth Management LLC raised its stake in HEICO by 14.7% during the 2nd quarter. Calamos Wealth Management LLC now owns 1,560 shares of the aerospace company’s stock worth $349,000 after buying an additional 200 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Benchmark restated a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Barclays began coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Truist Financial upped their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday. Finally, Royal Bank of Canada boosted their price objective on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $270.70.

Insider Activity

In related news, Director Frank J. Schwitter purchased 475 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, with a total value of $119,823.50. Following the acquisition, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Eric A. Mendelson sold 20,000 shares of HEICO stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the transaction, the insider now owns 148,891 shares in the company, valued at $27,707,126.19. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares in the company, valued at $436,409.80. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 8.10% of the company’s stock.

HEICO Stock Performance

Shares of HEICO stock opened at $260.89 on Friday. The business’s fifty day simple moving average is $255.17 and its 200 day simple moving average is $230.83. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. HEICO Co. has a 12 month low of $155.42 and a 12 month high of $269.38. The firm has a market capitalization of $36.13 billion, a P/E ratio of 82.04, a price-to-earnings-growth ratio of 3.69 and a beta of 1.22.

HEICO (NYSE:HEI) last released its earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. During the same period in the previous year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 37.3% compared to the same quarter last year. As a group, analysts anticipate that HEICO Co. will post 3.66 EPS for the current year.

About HEICO

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.