Rakuten Securities Inc. Purchases Shares of 311 HEICO Co. (NYSE:HEI)

Rakuten Securities Inc. acquired a new stake in HEICO Co. (NYSE:HEI) during the 3rd quarter, Holdings Channel reports. The firm acquired 311 shares of the aerospace company’s stock, valued at approximately $81,000.

A number of other hedge funds have also recently made changes to their positions in the business. Vantage Investment Partners LLC grew its stake in HEICO by 1.4% during the third quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock valued at $32,013,000 after acquiring an additional 1,717 shares in the last quarter. SpiderRock Advisors LLC boosted its holdings in shares of HEICO by 498.1% during the 3rd quarter. SpiderRock Advisors LLC now owns 15,490 shares of the aerospace company’s stock valued at $4,050,000 after purchasing an additional 12,900 shares during the last quarter. TFB Advisors LLC purchased a new position in shares of HEICO during the third quarter valued at about $333,000. Signify Wealth bought a new stake in shares of HEICO in the third quarter worth about $204,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of HEICO by 79.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 10,662 shares of the aerospace company’s stock worth $2,788,000 after buying an additional 4,712 shares in the last quarter. Institutional investors own 27.12% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Laurans A. Mendelson bought 725 shares of the stock in a transaction dated Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, with a total value of $190,631.50. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Laurans A. Mendelson purchased 725 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was purchased at an average price of $262.94 per share, with a total value of $190,631.50. Following the completion of the purchase, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victor H. Mendelson acquired 726 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the purchase, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,650 shares of company stock worth $691,718 over the last quarter. Company insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial lifted their price objective on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Benchmark reaffirmed a “buy” rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Barclays started coverage on shares of HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Morgan Stanley upped their target price on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Robert W. Baird increased their price target on shares of HEICO from $243.00 to $280.00 and gave the company 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 given a buy rating to the stock. Based on data from MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Stock Performance

HEICO stock opened at $263.52 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The firm has a market capitalization of $36.52 billion, a P/E ratio of 77.28, a price-to-earnings-growth ratio of 3.20 and a beta of 1.23. HEICO Co. has a 1-year low of $163.90 and a 1-year high of $269.38. The company’s 50-day moving average is $258.29 and its 200 day moving average is $238.05.

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