RKL Wealth Management LLC Invests $262,000 in Heico Corp (NYSE:HEI)

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RKL Wealth Management LLC purchased a new position in Heico Corp (NYSE:HEI) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,960 shares of the aerospace company’s stock, valued at approximately $262,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thoroughbred Financial Services LLC increased its holdings in Heico by 10,711.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 329,858 shares of the aerospace company’s stock worth $32,986,000 after purchasing an additional 326,807 shares during the period. First Trust Advisors LP boosted its position in shares of Heico by 49.7% in the 2nd quarter. First Trust Advisors LP now owns 231,181 shares of the aerospace company’s stock worth $30,934,000 after purchasing an additional 76,797 shares in the last quarter. Federated Investors Inc. PA boosted its position in shares of Heico by 7.8% in the 1st quarter. Federated Investors Inc. PA now owns 829,546 shares of the aerospace company’s stock worth $78,699,000 after purchasing an additional 59,748 shares in the last quarter. Nissay Asset Management Corp Japan ADV boosted its position in shares of Heico by 126.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 97,958 shares of the aerospace company’s stock worth $9,293,000 after purchasing an additional 54,696 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in shares of Heico in the 2nd quarter worth $2,982,000. Hedge funds and other institutional investors own 25.36% of the company’s stock.

Shares of Heico stock traded up $0.89 on Monday, hitting $142.69. The company’s stock had a trading volume of 1,818 shares, compared to its average volume of 406,577. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.56 and a current ratio of 3.20. Heico Corp has a 1 year low of $71.47 and a 1 year high of $144.37. The firm has a fifty day moving average price of $137.46 and a 200-day moving average price of $111.59. The company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 78.76, a price-to-earnings-growth ratio of 4.52 and a beta of 0.68.

Heico (NYSE:HEI) last announced its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.11. Heico had a return on equity of 18.31% and a net margin of 15.36%. The firm had revenue of $515.60 million during the quarter, compared to analyst estimates of $480.17 million. During the same quarter in the previous year, the business earned $0.55 EPS. Heico’s revenue for the quarter was up 19.7% compared to the same quarter last year. As a group, analysts forecast that Heico Corp will post 2.24 EPS for the current year.

In related news, CEO Laurans A. Mendelson sold 100,000 shares of Heico stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $98.17, for a total value of $9,817,000.00. Following the sale, the chief executive officer now directly owns 927,445 shares in the company, valued at approximately $91,047,275.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark H. Hildebrandt acquired 963 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was purchased at an average price of $103.34 per share, for a total transaction of $99,516.42. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 167,473 shares of company stock worth $16,698,107. 9.23% of the stock is currently owned by insiders.

HEI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Heico from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Friday, May 24th. Robert W. Baird raised their price objective on Heico from $125.00 to $170.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 13th. Bank of America cut Heico from a “buy” rating to an “underperform” rating and set a $105.00 price objective for the company. in a research report on Thursday, July 11th. They noted that the move was a valuation call. SunTrust Banks raised their price objective on Heico to $128.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Credit Suisse Group raised their target price on Heico from $127.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $118.00.

Heico Profile

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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Institutional Ownership by Quarter for Heico (NYSE:HEI)

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