SpiderRock Advisors LLC Buys 12,900 Shares of HEICO Co. (NYSE:HEI)

SpiderRock Advisors LLC increased its position in HEICO Co. (NYSE:HEI) by 498.1% during the third quarter, HoldingsChannel.com reports. The firm owned 15,490 shares of the aerospace company’s stock after acquiring an additional 12,900 shares during the quarter. SpiderRock Advisors LLC’s holdings in HEICO were worth $4,050,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HEI. Moody Lynn & Lieberson LLC raised its holdings in HEICO by 1.8% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 4,186 shares of the aerospace company’s stock worth $1,095,000 after acquiring an additional 73 shares during the last quarter. Clear Harbor Asset Management LLC lifted its holdings in shares of HEICO by 0.4% during the second quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock valued at $5,109,000 after purchasing an additional 80 shares in the last quarter. Avalon Capital Management boosted its position 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 buying an additional 123 shares during the last quarter. Verity Asset Management Inc. increased its holdings in HEICO by 2.2% in the 1st quarter. Verity Asset Management Inc. now owns 6,400 shares of the aerospace company’s stock worth $1,222,000 after buying an additional 139 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised 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 worth $275,000 after buying an additional 164 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Insider Buying and Selling

In related news, Director Alan Schriesheim bought 724 shares of HEICO stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, with a total value of $190,368.56. Following the completion of the transaction, the director now owns 174,878 shares in the company, valued at $45,982,421.32. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other HEICO news, Director Frank J. Schwitter purchased 475 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was purchased at an average price of $252.26 per share, with a total value of $119,823.50. Following the transaction, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan Schriesheim acquired 724 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, for a total transaction of $190,368.56. Following the completion of the acquisition, the director now owns 174,878 shares of the company’s stock, valued at $45,982,421.32. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 2,650 shares of company stock valued at $691,718 in the last 90 days. Company insiders own 8.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HEI. Deutsche Bank Aktiengesellschaft lifted their price target on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. UBS Group assumed coverage on HEICO in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price target for the company. Stifel Nicolaus increased their price target on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Morgan Stanley upped their target price on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Finally, Robert W. Baird boosted their target price on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.70.

HEICO Price Performance

NYSE:HEI opened at $259.47 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. HEICO Co. has a 1 year low of $160.98 and a 1 year high of $269.38. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 76.09, a PEG ratio of 3.17 and a beta of 1.23. The business has a 50 day simple moving average of $257.84 and a 200-day simple moving average of $237.02.

HEICO (NYSE:HEI) last released its quarterly 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. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.77 EPS. Equities analysts forecast that HEICO Co. will post 3.65 EPS for the current year.

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.