Cynosure Group LLC Makes New $358,000 Investment in HEICO Co. (NYSE:HEI)

Cynosure Group LLC purchased a new stake in HEICO Co. (NYSE:HEI) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,370 shares of the aerospace company’s stock, valued at approximately $358,000.

Other institutional investors also recently modified their holdings of the company. Andra AP fonden purchased a new stake in shares of HEICO during the second quarter worth $45,000. Center for Financial Planning Inc. bought a new position in HEICO in the 2nd quarter worth about $52,000. American National Bank purchased a new position in HEICO during the 2nd quarter valued at about $66,000. Rakuten Securities Inc. purchased a new stake in shares of HEICO in the third quarter worth about $81,000. Finally, FSC Wealth Advisors LLC bought a new position in shares of HEICO in the second quarter valued at approximately $73,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HEI has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $245.00 target price on shares of HEICO in a report on Tuesday, August 27th. Royal Bank of Canada boosted their target price on HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 28th. Stifel Nicolaus raised their price target on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Truist Financial boosted their price objective on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Bank of America raised their target price on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, HEICO presently has an average rating of “Moderate Buy” and an average target price of $270.70.

Insider Activity at HEICO

In other news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction 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 transaction, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurans A. Mendelson acquired 725 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, for a total transaction of $190,631.50. Following the transaction, the chief executive officer now directly owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 2,650 shares of company stock worth $691,718 in the last ninety days. 8.10% of the stock is owned by company insiders.

HEICO Trading Down 1.6 %

Shares of HEI opened at $271.43 on Friday. HEICO Co. has a fifty-two week low of $167.56 and a fifty-two week high of $283.60. The firm has a market cap of $37.62 billion, a price-to-earnings ratio of 79.60, a PEG ratio of 3.35 and a beta of 1.23. The firm has a 50 day moving average price of $262.39 and a 200-day moving average price of $242.81. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s revenue was up 37.3% on a year-over-year basis. As a group, equities research analysts forecast that HEICO Co. will post 3.65 earnings per share for the current year.

HEICO 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.