RKL Wealth Management LLC Invests $201,000 in Heico Corporation (HEI) Stock
RKL Wealth Management LLC purchased a new stake in shares of Heico Corporation (NYSE:HEI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 2,406 shares of the aerospace company’s stock, valued at approximately $201,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its position in shares of Heico Corporation by 20.6% during the third quarter. Advisors Asset Management Inc. now owns 61,574 shares of the aerospace company’s stock worth $5,530,000 after purchasing an additional 10,528 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Heico Corporation in the 3rd quarter valued at about $1,102,000. Moody Lynn & Lieberson LLC acquired a new stake in Heico Corporation in the 3rd quarter valued at about $2,561,000. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Heico Corporation by 97.8% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 38,537 shares of the aerospace company’s stock valued at $3,461,000 after acquiring an additional 19,057 shares during the last quarter. Finally, Concorde Asset Management LLC lifted its holdings in Heico Corporation by 72.1% in the 3rd quarter. Concorde Asset Management LLC now owns 17,585 shares of the aerospace company’s stock valued at $1,579,000 after acquiring an additional 7,366 shares during the last quarter. 25.92% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages have weighed in on HEI. Zacks Investment Research downgraded shares of Heico Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Canaccord Genuity upped their price target on shares of Heico Corporation from $92.00 to $95.00 and gave the company a “buy” rating in a report on Tuesday, October 24th. Seaport Global Securities began coverage on shares of Heico Corporation in a report on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 price target for the company. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $98.00 price target (up from $85.00) on shares of Heico Corporation in a report on Tuesday, August 29th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Heico Corporation has a consensus rating of “Hold” and a consensus target price of $91.67.
In other Heico Corporation news, Director Mark H. Hildebrandt bought 1,316 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were bought at an average price of $76.13 per share, for a total transaction of $100,187.08. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas S. Irwin sold 20,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $76.28, for a total value of $1,525,600.00. Following the completion of the transaction, the vice president now owns 31,110 shares in the company, valued at approximately $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is owned by corporate insiders.
Heico Corporation (HEI) traded down $0.62 during mid-day trading on Thursday, reaching $89.52. 98,000 shares of the company’s stock were exchanged, compared to its average volume of 184,071. The company has a quick ratio of 1.39, a current ratio of 2.89 and a debt-to-equity ratio of 0.36. Heico Corporation has a 52 week low of $59.19 and a 52 week high of $93.00. The stock has a market capitalization of $7,612.77, a price-to-earnings ratio of 44.45, a PEG ratio of 4.13 and a beta of 0.74.
Heico Corporation (NYSE:HEI) last posted its quarterly earnings data on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Heico Corporation had a net margin of 12.04% and a return on equity of 15.56%. The company had revenue of $391.50 million during the quarter, compared to analyst estimates of $390.55 million. During the same period in the prior year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up 9.9% on a year-over-year basis. analysts forecast that Heico Corporation will post 2.11 EPS for the current year.
Heico Corporation Company Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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