Lazard Asset Management LLC bought a new position in shares of Heico Corp (NYSE:HEI) in the fourth quarter, HoldingsChannel reports. The firm bought 8,691 shares of the aerospace company’s stock, valued at approximately $819,000.
Other hedge funds have also modified their holdings of the company. Moody Lynn & Lieberson LLC purchased a new position in shares of Heico during the 3rd quarter worth approximately $2,561,000. Virginia Retirement Systems ET AL purchased a new position in shares of Heico during the 3rd quarter worth approximately $763,000. Chilton Investment Co. LLC raised its stake in shares of Heico by 149.8% during the 4th quarter. Chilton Investment Co. LLC now owns 351,111 shares of the aerospace company’s stock worth $33,127,000 after buying an additional 210,534 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Heico during the 3rd quarter worth approximately $1,102,000. Finally, Chartwell Investment Partners LLC raised its stake in shares of Heico by 3.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 52,025 shares of the aerospace company’s stock worth $4,672,000 after buying an additional 1,924 shares in the last quarter. 21.83% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have recently issued reports on HEI shares. SunTrust Banks increased their target price on Heico to $76.80 and gave the stock a “buy” rating in a research note on Monday, December 4th. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $79.20 target price for the company in a research note on Tuesday, December 5th. Stephens set a $83.20 target price on Heico and gave the stock a “hold” rating in a research note on Monday, December 18th. Canaccord Genuity reissued a “buy” rating and set a $88.00 target price (up from $76.00) on shares of Heico in a research note on Wednesday, December 20th. They noted that the move was a valuation call. Finally, Credit Suisse Group reissued an “outperform” rating and set a $87.20 target price (up from $78.40) on shares of Heico in a research note on Wednesday, December 20th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heico has an average rating of “Buy” and an average price target of $85.96.
Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, February 27th. The aerospace company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.05). The firm had revenue of $404.41 million during the quarter, compared to analyst estimates of $394.23 million. Heico had a return on equity of 14.80% and a net margin of 13.26%. analysts expect that Heico Corp will post 2.14 earnings per share for the current year.
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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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