Janney Montgomery Scott LLC Raises Position in Heico Corp (HEI)
Janney Montgomery Scott LLC raised its stake in shares of Heico Corp (NYSE:HEI) by 4.0% in the third quarter, HoldingsChannel.com reports. The fund owned 18,183 shares of the aerospace company’s stock after acquiring an additional 691 shares during the period. Janney Montgomery Scott LLC’s holdings in Heico were worth $1,684,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Gradient Investments LLC bought a new position in shares of Heico during the third quarter valued at $116,000. EFG Asset Management Americas Corp. lifted its holdings in shares of Heico by 24.2% during the third quarter. EFG Asset Management Americas Corp. now owns 34,320 shares of the aerospace company’s stock valued at $3,178,000 after acquiring an additional 6,693 shares during the period. Chilton Investment Co. LLC lifted its holdings in shares of Heico by 29.5% during the second quarter. Chilton Investment Co. LLC now owns 603,108 shares of the aerospace company’s stock valued at $43,985,000 after acquiring an additional 137,304 shares during the period. Cynosure Advisors LLC lifted its holdings in shares of Heico by 25.0% during the second quarter. Cynosure Advisors LLC now owns 4,092 shares of the aerospace company’s stock valued at $298,000 after acquiring an additional 818 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Heico by 111.8% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 27,765 shares of the aerospace company’s stock valued at $2,025,000 after acquiring an additional 14,654 shares during the period. 25.62% of the stock is owned by institutional investors.
Heico stock opened at $81.32 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.86 and a quick ratio of 1.32. Heico Corp has a 12-month low of $55.43 and a 12-month high of $94.12. The stock has a market capitalization of $10.74 billion, a P/E ratio of 50.55, a price-to-earnings-growth ratio of 3.34 and a beta of 0.89.
A number of research firms recently issued reports on HEI. Zacks Investment Research cut Heico from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Jefferies Financial Group lifted their price target on Heico to $100.00 and gave the company a “buy” rating in a report on Wednesday, August 29th. Canaccord Genuity lifted their price target on Heico from $84.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, August 29th. UBS Group began coverage on Heico in a report on Wednesday, August 15th. They issued a “neutral” rating and a $83.00 price target for the company. Finally, ValuEngine cut Heico from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heico presently has an average rating of “Buy” and a consensus target price of $88.60.
In other news, Director Thomas M. Culligan acquired 1,312 shares of the stock in a transaction that occurred on Tuesday, October 9th. The stock was purchased at an average cost of $88.21 per share, for a total transaction of $115,731.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor H. Mendelson acquired 1,311 shares of the stock in a transaction that occurred on Tuesday, October 9th. The stock was purchased at an average price of $88.21 per share, with a total value of $115,643.31. The disclosure for this purchase can be found here. Insiders sold 6,456 shares of company stock valued at $511,093 over the last ninety days. 9.88% of the stock is currently owned by company insiders.
HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.
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