Alerus Financial NA Lowers Stock Holdings in HEICO Co. (NYSE:HEI)

Alerus Financial NA decreased its position in shares of HEICO Co. (NYSE:HEI - Free Report) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,867 shares of the aerospace company's stock after selling 1,982 shares during the quarter. HEICO accounts for approximately 0.7% of Alerus Financial NA's investment portfolio, making the stock its 25th largest holding. Alerus Financial NA's holdings in HEICO were worth $9,640,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Portland Investment Counsel Inc. acquired a new position in HEICO during the third quarter valued at $211,000. Cynosure Group LLC purchased a new position in HEICO during the third quarter valued at approximately $358,000. Brooklyn Investment Group acquired a new position in shares of HEICO in the 3rd quarter valued at $128,000. Quantbot Technologies LP boosted its stake in shares of HEICO by 424.1% during the 3rd quarter. Quantbot Technologies LP now owns 18,801 shares of the aerospace company's stock worth $4,916,000 after acquiring an additional 15,214 shares in the last quarter. Finally, Pekin Hardy Strauss Inc. acquired a new stake in shares of HEICO during the 3rd quarter valued at about $222,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Insider Activity at HEICO

In other HEICO news, Director Alan Schriesheim sold 332 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $201.63, for a total transaction of $66,941.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victor H. Mendelson purchased 726 shares of the firm's stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the purchase, the insider now owns 1,234,950 shares in the company, valued at approximately $324,717,753. The trade was a 0.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 2,650 shares of company stock valued at $691,718. 8.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HEI. Deutsche Bank Aktiengesellschaft upped their price objective on shares of HEICO from $235.00 to $271.00 and gave the stock a "buy" rating in a research report on Wednesday, September 4th. Truist Financial lifted their price objective on HEICO from $264.00 to $282.00 and gave the stock a "buy" rating in a report on Friday, October 18th. Stifel Nicolaus increased their target price on HEICO from $250.00 to $280.00 and gave the company a "buy" rating in a report on Tuesday, August 27th. Royal Bank of Canada raised their target price on HEICO from $250.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, August 28th. Finally, UBS Group assumed coverage on HEICO in a research report on Tuesday, October 15th. They set a "neutral" rating and a $277.00 price target for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, HEICO has an average rating of "Moderate Buy" and a consensus price target of $270.70.

HEICO Trading Up 0.7 %

NYSE HEI traded up $1.94 on Friday, reaching $273.37. 175,538 shares of the company were exchanged, compared to its average volume of 458,059. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63. The business's fifty day moving average price is $262.68 and its 200 day moving average price is $243.68. The stock has a market capitalization of $37.89 billion, a P/E ratio of 80.17, a price-to-earnings-growth ratio of 3.32 and a beta of 1.23. HEICO Co. has a fifty-two week low of $169.08 and a fifty-two week 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.