Icon Wealth Advisors LLC Boosts Stake in HEICO Co. (NYSE:HEI)

Icon Wealth Advisors LLC increased its stake in shares of HEICO Co. (NYSE:HEI - Free Report) by 90.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,248 shares of the aerospace company's stock after acquiring an additional 2,963 shares during the quarter. Icon Wealth Advisors LLC's holdings in HEICO were worth $1,634,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Andra AP fonden bought a new stake in HEICO in the 2nd quarter valued at about $45,000. Center for Financial Planning Inc. acquired a new stake in HEICO in the 2nd quarter valued at $52,000. American National Bank bought a new position in shares of HEICO in the second quarter valued at $66,000. Rakuten Securities Inc. acquired a new position in shares of HEICO during the third quarter valued at about $81,000. Finally, FSC Wealth Advisors LLC bought a new stake in shares of HEICO during the second quarter worth about $73,000. 27.12% of the stock is owned by institutional investors.

Insider Transactions at HEICO

In related news, Director Alan Schriesheim purchased 724 shares of the business'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 $190,368.56. Following the completion of the acquisition, the director now directly owns 174,878 shares of the company's stock, valued at approximately $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Frank J. Schwitter bought 475 shares of the business's stock in a transaction on Tuesday, September 3rd. The stock was bought at an average price of $252.26 per share, with a total value of $119,823.50. Following the purchase, the director now owns 1,730 shares in the company, valued at $436,409.80. This trade represents a 37.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 2,650 shares of company stock worth $691,718 over the last quarter. Corporate insiders own 8.10% of the company's stock.

HEICO Stock Performance

Shares of NYSE:HEI traded up $1.67 during mid-day trading on Friday, reaching $279.02. The company had a trading volume of 366,473 shares, compared to its average volume of 481,370. HEICO Co. has a one year low of $167.56 and a one year high of $282.82. 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 company's 50-day moving average price is $261.57 and its 200-day moving average price is $241.28. The firm has a market cap of $38.67 billion, a price-to-earnings ratio of 81.86, a PEG ratio of 3.36 and a beta of 1.23.

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

Analyst Ratings Changes

A number of brokerages have commented on HEI. Stifel Nicolaus boosted their price objective on HEICO from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 27th. Bank of America raised their price objective on HEICO from $250.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. UBS Group initiated coverage on shares of HEICO in a research note on Tuesday, October 15th. They issued a "neutral" rating and a $277.00 target price for the company. Robert W. Baird raised their price target 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. Finally, Royal Bank of Canada increased their price objective on shares of HEICO from $250.00 to $272.00 and gave the company an "outperform" rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $270.70.

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.