Loomis Sayles & Co. L P Has $99,000 Stake in HEICO Co. (NYSE:HEI)

Loomis Sayles & Co. L P cut its stake in HEICO Co. (NYSE:HEI - Free Report) by 99.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 379 shares of the aerospace company's stock after selling 119,397 shares during the period. Loomis Sayles & Co. L P's holdings in HEICO were worth $99,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Andra AP fonden acquired a new stake in shares of HEICO during the 2nd quarter worth about $45,000. Center for Financial Planning Inc. acquired a new stake in shares of HEICO during the 2nd quarter worth about $52,000. American National Bank acquired a new stake in shares of HEICO during the 2nd quarter worth about $66,000. Strategic Financial Concepts LLC acquired a new stake in shares of HEICO during the 2nd quarter worth about $67,000. Finally, FSC Wealth Advisors LLC acquired a new stake in shares of HEICO during the 2nd quarter worth about $73,000. 27.12% of the stock is owned by institutional investors.

HEICO Trading Up 0.7 %

HEICO stock traded up $1.90 during midday trading on Friday, hitting $273.33. 175,538 shares of the stock were exchanged, compared to its average volume of 385,105. The company has a fifty day simple moving average of $262.53 and a two-hundred day simple moving average of $243.01. HEICO Co. has a 52 week low of $169.08 and a 52 week high of $283.60. The stock has a market capitalization of $37.88 billion, a PE ratio of 79.82, a P/E/G ratio of 3.29 and a beta of 1.23. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The business had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same quarter last year, the firm earned $0.77 EPS. HEICO's quarterly revenue was up 37.3% compared to the same quarter last year. Equities research analysts anticipate that HEICO Co. will post 3.65 EPS for the current fiscal year.

Insider Buying and Selling

In other HEICO news, CEO Laurans A. Mendelson acquired 725 shares of the stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the completion of the acquisition, the chief executive officer now directly owns 929,984 shares of the company's stock, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Victor H. Mendelson acquired 726 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the acquisition, the insider now directly owns 1,234,950 shares of the company's stock, valued at $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. Insiders have bought 2,650 shares of company stock valued at $691,718 in the last 90 days. 8.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HEI. Morgan Stanley raised 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. Robert W. Baird raised their price objective on shares of HEICO from $243.00 to $280.00 and gave the company an "outperform" rating in a research report on Wednesday, August 28th. Barclays began coverage on shares of HEICO in a research report on Monday, August 19th. They issued an "equal weight" rating and a $250.00 price objective for the company. Truist Financial raised their price objective on shares of HEICO from $264.00 to $282.00 and gave the company a "buy" rating in a research report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of HEICO from $235.00 to $271.00 and gave the company a "buy" rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $270.70.

HEICO Company Profile

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.