Congress Asset Management Co. Sells 726 Shares of HEICO Co. (NYSE:HEI)

Congress Asset Management Co. reduced its holdings in HEICO Co. (NYSE:HEI) by 1.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 66,248 shares of the aerospace company’s stock after selling 726 shares during the quarter. Congress Asset Management Co.’s holdings in HEICO were worth $17,323,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Frank Rimerman Advisors LLC bought a new stake in shares of HEICO in the 3rd quarter worth approximately $202,000. HWG Holdings LP grew its position in shares of HEICO by 5.2% in the 3rd quarter. HWG Holdings LP now owns 15,444 shares of the aerospace company’s stock worth $4,038,000 after buying an additional 760 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its position in shares of HEICO by 1.8% during the third quarter. Moody Lynn & Lieberson LLC now owns 4,186 shares of the aerospace company’s stock valued at $1,095,000 after purchasing an additional 73 shares in the last quarter. Global Trust Asset Management LLC bought a new stake in shares of HEICO during the third quarter valued at approximately $144,000. Finally, Assenagon Asset Management S.A. bought a new stake in shares of HEICO during the third quarter valued at approximately $4,502,000. 27.12% of the stock is currently owned by institutional investors.

HEICO Price Performance

Shares of HEICO stock opened at $244.75 on Friday. The stock has a 50 day moving average of $257.46 and a 200 day moving average of $234.37. HEICO Co. has a 12 month low of $156.47 and a 12 month high of $269.38. The firm has a market cap of $33.92 billion, a PE ratio of 71.77, a PEG ratio of 3.51 and a beta of 1.22. 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 (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, beating 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 business had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. During the same period in the prior year, the business posted $0.77 earnings per share. The company’s quarterly revenue was up 37.3% compared to the same quarter last year. On average, research analysts expect that HEICO Co. will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling at HEICO

In other HEICO news, Director Alan Schriesheim sold 332 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total transaction of $66,941.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Alan Schriesheim sold 332 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $201.63, for a total value of $66,941.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Victor H. Mendelson purchased 726 shares of HEICO stock in a transaction dated Friday, October 18th. The stock was acquired 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 approximately $324,717,753. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 2,650 shares of company stock worth $691,718 over the last ninety days. Company insiders own 8.10% of the company’s stock.

Analyst Ratings Changes

HEI has been the topic of several research reports. UBS Group assumed coverage on HEICO in a research report on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Robert W. Baird boosted their target price on HEICO from $243.00 to $280.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Truist Financial boosted their price target on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Benchmark restated a “buy” rating and issued a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average 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.