Heico Corp (HEI) Stake Lowered by Schroder Investment Management Group
Schroder Investment Management Group lessened its holdings in Heico Corp (NYSE:HEI) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,146 shares of the aerospace company’s stock after selling 8,926 shares during the period. Schroder Investment Management Group owned approximately 0.08% of Heico worth $6,199,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Ironwood Investment Counsel LLC acquired a new position in shares of Heico in the 3rd quarter valued at $201,000. RKL Wealth Management LLC acquired a new position in Heico during the third quarter worth $201,000. D.A. Davidson & CO. raised its holdings in Heico 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 last quarter. Comerica Bank acquired a new position in Heico during the second quarter worth $209,000. Finally, Fortaleza Asset Management Inc. raised its holdings in Heico by 25.0% during the second quarter. Fortaleza Asset Management Inc. now owns 3,287 shares of the aerospace company’s stock worth $236,000 after purchasing an additional 657 shares during the last quarter. 26.98% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Thomas S. Irwin sold 20,000 shares of Heico stock in a transaction on Thursday, September 21st. The stock was 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 owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark H. Hildebrandt bought 1,316 shares of Heico stock in a transaction that occurred on Thursday, October 5th. The stock was purchased at an average price of $76.13 per share, for a total transaction of $100,187.08. The disclosure for this purchase can be found here. 9.76% of the stock is owned by insiders.
Several research firms have weighed in on HEI. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Tuesday, December 5th. SunTrust Banks raised their price target on Heico to $96.00 and gave the stock a “buy” rating in a research report on Monday, December 4th. Canaccord Genuity lifted their price objective on Heico from $92.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, October 24th. Finally, Seaport Global Securities initiated coverage on Heico in a research report on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 price objective for the company. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $92.78.
Shares of Heico Corp (HEI) opened at $89.88 on Monday. The company has a market capitalization of $7,590.81, a price-to-earnings ratio of 44.32, a PEG ratio of 4.08 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.89 and a quick ratio of 1.39. Heico Corp has a 1 year low of $59.94 and a 1 year high of $93.00.
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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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