Congress Asset Management Co. Sells 726 Shares of HEICO Co. (NYSE:HEI)

Congress Asset Management Co. decreased its position in shares of HEICO Co. (NYSE:HEI) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,248 shares of the aerospace company’s stock after selling 726 shares during the quarter. Congress Asset Management Co.’s holdings in HEICO were worth $17,323,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of HEI. Quadrature Capital Ltd purchased a new position in HEICO in the first quarter worth $2,796,000. Mediolanum International Funds Ltd purchased a new position in HEICO in the first quarter worth $1,442,000. Driehaus Capital Management LLC boosted 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. AdvisorShares Investments LLC boosted its position in HEICO by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock worth $7,190,000 after purchasing an additional 2,244 shares during the last quarter. Finally, Virtu Financial LLC boosted its position in HEICO by 148.8% in the first quarter. Virtu Financial LLC now owns 5,449 shares of the aerospace company’s stock worth $1,041,000 after purchasing an additional 3,259 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

HEICO Stock Performance

Shares of HEI opened at $244.75 on Friday. The stock’s 50-day simple moving average is $257.46 and its 200 day simple moving average is $234.37. The stock has a market capitalization of $33.92 billion, a price-to-earnings ratio of 71.77, a price-to-earnings-growth ratio of 3.51 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. HEICO Co. has a 52-week low of $156.47 and a 52-week high of $269.38.

HEICO (NYSE:HEI) last announced its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.77 EPS. Research analysts forecast that HEICO Co. will post 3.65 EPS for the current fiscal year.

Insider Activity

In other news, CEO Laurans A. Mendelson acquired 725 shares of HEICO stock in a transaction dated Friday, October 18th. The shares were purchased at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the transaction, the chief executive officer now owns 929,984 shares of the company’s stock, valued at $244,529,992.96. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Frank J. Schwitter purchased 475 shares of HEICO stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The trade was a 0.00 % increase 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, CEO Laurans A. Mendelson purchased 725 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The shares were bought at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the transaction, the chief executive officer now owns 929,984 shares in the company, valued at $244,529,992.96. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 2,650 shares of company stock worth $691,718. 8.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on HEI shares. Robert W. Baird boosted their price objective on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Truist Financial upped their price target on HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Stifel Nicolaus upped their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, August 27th. Morgan Stanley upped their price target on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, UBS Group initiated coverage on HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $270.70.

HEICO 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.