Gardner Lewis Asset Management L P Has $2.38 Million Holdings in HEICO Co. (NYSE:HEI)

Gardner Lewis Asset Management L P cut its stake in HEICO Co. (NYSE:HEI) by 9.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,643 shares of the aerospace company’s stock after selling 1,110 shares during the period. Gardner Lewis Asset Management L P’s holdings in HEICO were worth $2,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HEI. Marsico Capital Management LLC raised its position in HEICO by 19.3% in the 2nd quarter. Marsico Capital Management LLC now owns 114,236 shares of the aerospace company’s stock worth $25,544,000 after purchasing an additional 18,465 shares during the last quarter. Virtu Financial LLC lifted its stake in shares of HEICO by 54.4% during the second quarter. Virtu Financial LLC now owns 8,411 shares of the aerospace company’s stock valued at $1,881,000 after acquiring an additional 2,962 shares during the period. J.W. Cole Advisors Inc. bought a new position in HEICO in the second quarter valued at about $218,000. AdvisorShares Investments LLC lifted its position in HEICO by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after purchasing an additional 2,244 shares during the period. Finally, AGF Management Ltd. grew 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 worth $212,417,000 after buying an additional 362,625 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the sale, the insider now directly owns 246,060 shares in the company, valued at approximately $44,305,563.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now directly owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares in the company, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HEI. Benchmark reaffirmed a “buy” rating and set a $245.00 target price on shares of HEICO in a report on Tuesday, August 27th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft upped their price target on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Stifel Nicolaus lifted their price objective on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Finally, Bank of America boosted their price objective on shares of HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, HEICO has a consensus rating of “Moderate Buy” and an average price target of $259.67.

HEICO Price Performance

Shares of NYSE HEI opened at $261.79 on Wednesday. The company has a fifty day moving average price of $239.62 and a 200 day moving average price of $218.78. The firm has a market cap of $36.26 billion, a PE ratio of 82.32, a PEG ratio of 3.61 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 Co. has a 1-year low of $155.42 and a 1-year high of $264.22.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The business had revenue of $992.20 million during the quarter, compared to the consensus estimate of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. HEICO’s quarterly revenue was up 37.3% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share. Research analysts predict that HEICO Co. will post 3.63 earnings per share for the current fiscal year.

HEICO Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were given a $0.11 dividend. This represents a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s payout ratio is currently 6.92%.

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.