Chartwell Investment Partners LLC Has $4.67 Million Stake in Heico Corporation (HEI)
Chartwell Investment Partners LLC increased its stake in shares of Heico Corporation (NYSE:HEI) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 52,025 shares of the aerospace company’s stock after purchasing an additional 1,924 shares during the quarter. Chartwell Investment Partners LLC owned approximately 0.06% of Heico Corporation worth $4,672,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in shares of Heico Corporation by 23.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,482 shares of the aerospace company’s stock worth $106,000 after purchasing an additional 283 shares during the period. Ironwood Investment Counsel LLC acquired a new stake in shares of Heico Corporation during the third quarter worth approximately $201,000. RKL Wealth Management LLC acquired a new stake in shares of Heico Corporation during the third quarter worth approximately $201,000. D.A. Davidson & CO. boosted its holdings in shares of Heico Corporation by 24.7% during the second quarter. D.A. Davidson & CO. now owns 2,536 shares of the aerospace company’s stock worth $182,000 after purchasing an additional 502 shares during the period. Finally, Comerica Bank acquired a new stake in shares of Heico Corporation during the second quarter worth approximately $209,000. Institutional investors and hedge funds own 25.92% of the company’s stock.
In related news, Director Mark H. Hildebrandt purchased 1,316 shares of the stock in a transaction dated Thursday, October 5th. The stock was bought at an average cost of $76.13 per share, with a total value of $100,187.08. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 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 sale, the vice president now directly owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The disclosure for this sale can be found here. 9.76% of the stock is currently owned by insiders.
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Shares of Heico Corporation (NYSE:HEI) traded down $0.02 during trading hours on Thursday, hitting $92.23. 82,300 shares of the stock traded hands, compared to its average volume of 182,755. Heico Corporation has a 52 week low of $59.94 and a 52 week high of $93.00. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.89 and a quick ratio of 1.39. The firm has a market cap of $7,790.97, a P/E ratio of 45.49, a PEG ratio of 4.22 and a beta of 0.74.
Heico Corporation (NYSE:HEI) last issued its earnings results on Wednesday, August 23rd. The aerospace company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to the consensus estimate of $390.55 million. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities research analysts predict that Heico Corporation will post 2.11 earnings per share for the current fiscal year.
A number of analysts have issued reports on the stock. Zacks Investment Research cut shares of Heico Corporation from a “buy” rating to a “hold” rating in a research note on Monday, September 25th. Credit Suisse Group reissued an “outperform” rating and issued a $98.00 price target (up previously from $85.00) on shares of Heico Corporation in a research report on Tuesday, August 29th. Bank of America Corporation raised shares of Heico Corporation from a “neutral” rating to a “buy” rating and lifted their price target for the company from $75.00 to $95.00 in a research report on Tuesday, August 29th. Finally, Canaccord Genuity boosted 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. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $91.67.
Heico Corporation 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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