HEICO Co. (NYSE:HEI) Sees Significant Increase in Short Interest

HEICO Co. (NYSE:HEI) was the recipient of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 2,520,000 shares, an increase of 29.2% from the October 31st total of 1,950,000 shares. Based on an average trading volume of 403,500 shares, the short-interest ratio is currently 6.2 days. Approximately 6.0% of the company’s stock are sold short.

HEICO Price Performance

HEI traded down $4.24 during trading hours on Monday, hitting $269.13. The company’s stock had a trading volume of 225,564 shares, compared to its average volume of 384,382. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. HEICO has a 12 month low of $169.70 and a 12 month high of $283.60. The business’s 50-day moving average price is $262.68 and its 200-day moving average price is $243.90. The stock has a market cap of $37.30 billion, a price-to-earnings ratio of 80.50, a P/E/G ratio of 3.32 and a beta of 1.23.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HEI. Royal Bank of Canada increased their price objective on shares of HEICO from $250.00 to $272.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 28th. Morgan Stanley raised their target price on shares of HEICO from $245.00 to $265.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Stifel Nicolaus upped their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, August 27th. Truist Financial raised their price objective on shares of HEICO from $264.00 to $282.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Barclays began coverage on shares of HEICO in a report on Monday, August 19th. They issued an “equal weight” rating and a $250.00 target price for the company. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.70.

Insider Transactions at HEICO

In related news, insider Victor H. Mendelson bought 726 shares of the company’s stock in a transaction that occurred 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 completion of the acquisition, the insider now owns 1,234,950 shares of the company’s stock, valued at $324,717,753. This trade represents a 0.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laurans A. Mendelson acquired 725 shares of the business’s 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 acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 2,650 shares of company stock valued at $691,718. Insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

A number of hedge funds and other institutional investors have recently modified their holdings of HEI. Driehaus Capital Management LLC grew its holdings in shares of HEICO by 66.0% during the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after buying an additional 77,067 shares during the last quarter. AdvisorShares Investments LLC boosted its position in HEICO by 7.4% in the second quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after buying an additional 2,244 shares during the last quarter. Bright Rock Capital Management LLC acquired a new position in HEICO in the 3rd quarter worth approximately $1,830,000. Seven Eight Capital LP acquired a new stake in HEICO during the 2nd quarter valued at approximately $423,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of HEICO in the 2nd quarter valued at $1,330,000. 27.12% of the stock is currently owned by institutional investors.

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.