Eagle Asset Management Inc. increased its position in Heico Corp (NYSE:HEI) by 4.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 117,331 shares of the aerospace company’s stock after buying an additional 4,726 shares during the period. Eagle Asset Management Inc.’s holdings in Heico Corp were worth $10,231,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. Artisan Partners Limited Partnership bought a new position in shares of Heico Corp during the fourth quarter worth approximately $10,246,000. Copeland Capital Management LLC boosted its stake in Heico Corp by 22.1% in the third quarter. Copeland Capital Management LLC now owns 435,724 shares of the aerospace company’s stock worth $30,152,000 after buying an additional 78,859 shares in the last quarter. Tygh Capital Management Inc. acquired a new stake in Heico Corp during the first quarter worth approximately $5,592,000. Loomis Sayles & Co. L P acquired a new stake in Heico Corp during the fourth quarter worth approximately $4,651,000. Finally, Trexquant Investment LP acquired a new stake in Heico Corp during the fourth quarter worth approximately $1,491,000. 26.19% of the stock is currently owned by institutional investors.
Shares of Heico Corp (NYSE:HEI) traded up 1.60% on Friday, hitting $73.76. The stock had a trading volume of 83,842 shares. The firm’s 50-day moving average price is $70.80 and its 200 day moving average price is $65.15. Heico Corp has a 12 month low of $50.43 and a 12 month high of $74.92. The firm has a market cap of $6.21 billion, a P/E ratio of 38.12 and a beta of 0.52.
Heico Corp (NYSE:HEI) last posted its quarterly earnings results on Tuesday, February 28th. The aerospace company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. Heico Corp had a net margin of 11.35% and a return on equity of 15.97%. The business had revenue of $343.40 million during the quarter, compared to analysts’ expectations of $339.29 million. During the same quarter in the prior year, the company posted $0.49 EPS. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. Analysts anticipate that Heico Corp will post $2.05 EPS for the current fiscal year.
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HEI has been the topic of a number of recent analyst reports. Zacks Investment Research raised Heico Corp from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Friday, February 24th. Stephens initiated coverage on Heico Corp in a report on Thursday, April 13th. They set an “equal weight” rating and a $87.00 price target on the stock. Jefferies Group LLC reissued a “hold” rating and set a $73.00 price target (up from $68.00) on shares of Heico Corp in a report on Wednesday, April 26th. Canaccord Genuity raised their price target on Heico Corp from $77.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Finally, Deutsche Bank AG reissued a “buy” rating and set a $100.00 price target on shares of Heico Corp in a report on Wednesday, April 12th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $84.50.
About Heico Corp
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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