HEICO Co. (NYSE:HEI) Shares Sold by Alerus Financial NA

Alerus Financial NA lessened its stake in HEICO Co. (NYSE:HEI) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 36,867 shares of the aerospace company’s stock after selling 1,982 shares during the period. HEICO makes up about 0.7% of Alerus Financial NA’s investment portfolio, making the stock its 25th biggest position. Alerus Financial NA’s holdings in HEICO were worth $9,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings 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 valued at $212,417,000 after acquiring an additional 362,625 shares during the last quarter. EULAV Asset Management raised its stake in HEICO by 5.0% during the third quarter. EULAV Asset Management now owns 402,193 shares of the aerospace company’s stock worth $105,165,000 after purchasing an additional 19,200 shares during the period. TCW Group Inc. boosted its holdings in HEICO by 3.0% in the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock valued at $44,724,000 after purchasing an additional 5,779 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after buying an additional 77,067 shares during the last quarter. Finally, Vantage Investment Partners LLC increased its holdings in shares of HEICO by 1.4% during the 3rd quarter. Vantage Investment Partners LLC now owns 122,430 shares of the aerospace company’s stock worth $32,013,000 after buying an additional 1,717 shares during the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at HEICO

In related news, CEO Laurans A. Mendelson bought 725 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, with a total value of $190,631.50. Following the purchase, the chief executive officer now directly owns 929,984 shares of the company’s stock, valued at $244,529,992.96. This trade represents a 0.08 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through 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 bought at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the acquisition, the insider now owns 1,234,950 shares in the company, valued at $324,717,753. This trade represents a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 2,650 shares of company stock worth $691,718. Corporate insiders own 8.10% of the company’s stock.

HEICO Stock Performance

NYSE HEI opened at $273.37 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. The company has a market cap of $37.89 billion, a P/E ratio of 80.17, a P/E/G ratio of 3.32 and a beta of 1.23. The stock has a 50-day moving average of $262.68 and a two-hundred day moving average of $243.45. HEICO Co. has a 1-year low of $169.08 and a 1-year high of $283.60.

Wall Street Analyst Weigh In

A number of research analysts recently commented on HEI shares. Morgan Stanley upped their price objective on HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Bank of America increased their price target on HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Benchmark restated a “buy” rating and issued a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, UBS Group initiated coverage on shares of HEICO in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price target on the stock. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and an average target price of $270.70.

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.