Sawgrass Asset Management LLC Sells 1,613 Shares of HEICO Co. (NYSE:HEI)

Sawgrass Asset Management LLC decreased its position in shares of HEICO Co. (NYSE:HEI) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,635 shares of the aerospace company’s stock after selling 1,613 shares during the quarter. Sawgrass Asset Management LLC’s holdings in HEICO were worth $9,841,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HEI. AGF Management Ltd. boosted its position in shares of HEICO by 61.7% during the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after acquiring an additional 362,625 shares in the last quarter. Vantage Investment Partners LLC acquired a new stake in shares of HEICO in the 2nd quarter valued at $26,993,000. Driehaus Capital Management LLC increased its stake in shares of HEICO by 66.0% in the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after purchasing an additional 77,067 shares during the last quarter. EULAV Asset Management raised its holdings in shares of HEICO by 23.4% during the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock worth $67,250,000 after buying an additional 66,800 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of HEICO during the 2nd quarter worth $67,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HEICO

In other news, Director Frank J. Schwitter bought 475 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. This represents a 37.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Victor H. Mendelson purchased 726 shares of the business’s stock in a transaction on Friday, October 18th. The shares were purchased at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the transaction, the insider now directly owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. The trade was a 0.06 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,650 shares of company stock worth $691,718. Company insiders own 8.10% of the company’s stock.

HEICO Stock Down 2.4 %

Shares of NYSE:HEI opened at $270.41 on Friday. The firm has a market cap of $37.48 billion, a P/E ratio of 79.30, a P/E/G ratio of 3.28 and a beta of 1.23. HEICO Co. has a 12-month low of $167.56 and a 12-month high of $281.15. The business has a fifty day simple moving average of $259.64 and a 200 day simple moving average of $239.23. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. During the same period last year, the company earned $0.77 earnings per share. The firm’s revenue was up 37.3% compared to the same quarter last year. Analysts predict that HEICO Co. will post 3.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HEI. Robert W. Baird lifted their target price on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. UBS Group started coverage on shares of HEICO in a report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price target on the stock. Morgan Stanley increased their price objective on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Truist Financial boosted their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Barclays initiated coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

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.