HEICO Co. (NYSE:HEI) Shares Sold by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC decreased its stake in HEICO Co. (NYSE:HEI) by 3.5% in the fourth quarter, HoldingsChannel reports. The firm owned 15,415 shares of the aerospace company’s stock after selling 563 shares during the period. Carnegie Capital Asset Management LLC’s holdings in HEICO were worth $2,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lazard Asset Management LLC boosted its position in HEICO by 3,192.9% during the 1st quarter. Lazard Asset Management LLC now owns 1,138,939 shares of the aerospace company’s stock worth $174,872,000 after acquiring an additional 1,104,351 shares during the period. Select Equity Group L.P. purchased a new stake in shares of HEICO during the 1st quarter worth about $85,710,000. Balyasny Asset Management L.P. raised its stake in shares of HEICO by 336.7% during the 1st quarter. Balyasny Asset Management L.P. now owns 348,363 shares of the aerospace company’s stock worth $59,584,000 after purchasing an additional 268,584 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of HEICO during the 1st quarter worth about $35,606,000. Finally, Balyasny Asset Management LLC raised its stake in shares of HEICO by 2,002.7% during the 3rd quarter. Balyasny Asset Management LLC now owns 155,033 shares of the aerospace company’s stock worth $22,322,000 after purchasing an additional 147,660 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Insider Buying and Selling at HEICO

In other HEICO news, Director Alan Schriesheim sold 26,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $192.18, for a total value of $4,996,680.00. Following the sale, the director now owns 155,862 shares in the company, valued at $29,953,559.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Alan Schriesheim sold 26,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the transaction, the director now owns 155,862 shares in the company, valued at $29,953,559.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Frank J. Schwitter sold 400 shares of the stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $193.70, for a total value of $77,480.00. Following the transaction, the director now owns 1,255 shares in the company, valued at approximately $243,093.50. The disclosure for this sale can be found here. Corporate insiders own 8.10% of the company’s stock.

HEICO Stock Up 1.0 %

HEI stock opened at $193.75 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 3.17 and a quick ratio of 1.40. The stock has a market capitalization of $26.81 billion, a P/E ratio of 63.32, a P/E/G ratio of 3.13 and a beta of 1.16. The business has a 50-day moving average of $190.70 and a 200-day moving average of $178.36. HEICO Co. has a fifty-two week low of $153.63 and a fifty-two week high of $200.64.

HEICO (NYSE:HEI) last issued its quarterly earnings results on Monday, February 26th. The aerospace company reported $0.82 EPS for the quarter, beating the consensus estimate of $0.74 by $0.08. HEICO had a return on equity of 14.35% and a net margin of 13.11%. The firm had revenue of $896.36 million during the quarter, compared to analysts’ expectations of $891.32 million. During the same period in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. On average, sell-side analysts anticipate that HEICO Co. will post 3.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on HEI shares. Bank of America raised HEICO from a “neutral” rating to a “buy” rating and set a $220.00 price target for the company in a research note on Thursday, January 25th. Morgan Stanley downgraded HEICO from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $184.00 to $174.00 in a research note on Wednesday, December 20th. Royal Bank of Canada raised their price objective on HEICO from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Monday, February 26th. Truist Financial raised their price objective on HEICO from $190.00 to $229.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. Finally, Stifel Nicolaus raised their price objective on HEICO from $210.00 to $215.00 and gave the company a “buy” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat, HEICO presently has an average rating of “Moderate Buy” and an average price target of $204.50.

About HEICO

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.