Dynamic Technology Lab Private Ltd Cuts Stock Holdings in HEICO Co. (NYSE:HEI)

Dynamic Technology Lab Private Ltd lowered its stake in HEICO Co. (NYSE:HEI) by 30.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,963 shares of the aerospace company’s stock after selling 2,170 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in HEICO were worth $1,298,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HEI. AGF Management Ltd. boosted its stake in HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock valued at $212,417,000 after buying an additional 362,625 shares during the last quarter. Vantage Investment Partners LLC purchased a new position in shares of HEICO in the second quarter valued at $26,993,000. Driehaus Capital Management LLC increased its position in HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares during the last quarter. EULAV Asset Management raised its stake in HEICO by 23.4% during the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares in the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of HEICO in the 2nd quarter worth $67,000. Institutional investors own 27.12% of the company’s stock.

HEICO Trading Down 0.2 %

Shares of NYSE HEI opened at $275.74 on Wednesday. HEICO Co. has a twelve month low of $167.56 and a twelve month high of $283.60. The firm has a market cap of $38.22 billion, a PE ratio of 80.90, a price-to-earnings-growth ratio of 3.38 and a beta of 1.23. The business has a fifty day simple moving average of $261.85 and a two-hundred day simple moving average of $242.18. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.77 earnings per share. Analysts expect that HEICO Co. will post 3.65 earnings per share for the current fiscal year.

Insider Transactions at HEICO

In other news, Director Alan Schriesheim sold 332 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank J. Schwitter acquired 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now owns 1,730 shares of the company’s stock, valued at $436,409.80. This represents a 37.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 2,650 shares of company stock valued at $691,718. Company insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on HEI shares. Truist Financial lifted their price target on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley boosted their target price on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Robert W. Baird raised their price target on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Bank of America increased their target price on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Benchmark reaffirmed a “buy” rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $270.70.

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.