HEICO Co. (NYSE:HEI) Shares Sold by Concentric Capital Strategies LP

Concentric Capital Strategies LP decreased its position in HEICO Co. (NYSE:HEI - Free Report) by 32.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,117 shares of the aerospace company's stock after selling 3,348 shares during the period. Concentric Capital Strategies LP's holdings in HEICO were worth $1,861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Andra AP fonden bought a new position in shares of HEICO during the second quarter valued at approximately $45,000. Center for Financial Planning Inc. purchased a new position in shares of HEICO in the 2nd quarter valued at $52,000. American National Bank bought a new position in shares of HEICO in the 2nd quarter worth $66,000. Strategic Financial Concepts LLC purchased a new stake in shares of HEICO during the 2nd quarter worth $67,000. Finally, FSC Wealth Advisors LLC bought a new stake in HEICO during the second quarter valued at about $73,000. Institutional investors own 27.12% of the company's stock.

Insiders Place Their Bets

In related news, Director Alan Schriesheim bought 724 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was purchased at an average price of $262.94 per share, for a total transaction of $190,368.56. Following the acquisition, the director now owns 174,878 shares of the company's stock, valued at approximately $45,982,421.32. This trade represents a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Victor H. Mendelson acquired 726 shares of the company's stock in a transaction dated Friday, October 18th. The stock was purchased at an average cost of $262.94 per share, with a total value of $190,894.44. Following the completion of the purchase, the insider now directly owns 1,234,950 shares of the company's stock, valued at approximately $324,717,753. This represents a 0.06 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,175 shares of company stock worth $571,895. Company insiders own 8.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HEI. Royal Bank of Canada upped their price target on HEICO from $250.00 to $272.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 28th. Truist Financial increased their price target on HEICO from $264.00 to $282.00 and gave the company a "buy" rating in a research note on Friday, October 18th. Bank of America boosted their price target on HEICO from $250.00 to $285.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Morgan Stanley increased their price objective on shares of HEICO from $245.00 to $265.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. Finally, Benchmark restated a "buy" rating and set a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $270.70.

HEICO Stock Performance

Shares of NYSE HEI traded down $1.42 during trading on Tuesday, reaching $267.26. 117,770 shares of the company traded hands, compared to its average volume of 383,842. The stock has a market cap of $37.04 billion, a P/E ratio of 78.37, a PEG ratio of 3.32 and a beta of 1.24. The firm's fifty day simple moving average is $262.70 and its 200 day simple moving average is $244.29. 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 12-month low of $169.70 and a 12-month high of $283.60.

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.