Jennison Associates LLC Has $65.93 Million Position in HEICO Co. (NYSE:HEI)

Jennison Associates LLC cut its position in HEICO Co. (NYSE:HEI - Free Report) by 10.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,148 shares of the aerospace company's stock after selling 29,409 shares during the period. Jennison Associates LLC owned 0.18% of HEICO worth $65,932,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Andra AP fonden acquired a new position in HEICO during the second quarter worth $45,000. Center for Financial Planning Inc. acquired a new stake in HEICO during the second quarter worth about $52,000. American National Bank acquired a new stake in shares of HEICO in the 2nd quarter valued at approximately $66,000. Strategic Financial Concepts LLC bought a new position in HEICO in the 2nd quarter valued at approximately $67,000. Finally, FSC Wealth Advisors LLC bought a new position in HEICO in the 2nd quarter valued at approximately $73,000. 27.12% of the stock is owned by institutional investors.

HEICO Price Performance

Shares of NYSE HEI traded down $0.07 during midday trading on Thursday, hitting $277.35. The stock had a trading volume of 349,668 shares, compared to its average volume of 385,027. The company has a market capitalization of $38.44 billion, a PE ratio of 81.33, a P/E/G ratio of 3.31 and a beta of 1.23. The stock has a 50 day simple moving average of $261.18 and a 200-day simple moving average of $240.82. HEICO Co. has a 1 year low of $167.56 and a 1 year high of $281.97. 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 earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping 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 during the quarter, compared to analysts' expectations of $995.34 million. During the same period in the previous year, the firm posted $0.77 EPS. HEICO's revenue for the quarter was up 37.3% on a year-over-year basis. On average, sell-side analysts expect that HEICO Co. will post 3.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HEI has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on shares of HEICO from $245.00 to $265.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Benchmark reiterated a "buy" rating and issued a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Royal Bank of Canada increased their price target on shares of HEICO from $250.00 to $272.00 and gave the company an "outperform" rating in a research report on Wednesday, August 28th. Stifel Nicolaus increased their price target on shares of HEICO from $250.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, August 27th. Finally, Bank of America raised their target price on shares of HEICO from $250.00 to $285.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, HEICO currently has a consensus rating of "Moderate Buy" and an average price target of $270.70.

Insiders Place Their Bets

In other news, Director Alan Schriesheim bought 724 shares of HEICO stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average price of $262.94 per share, for a total transaction of $190,368.56. Following the completion of the acquisition, the director now owns 174,878 shares of the company's stock, valued at $45,982,421.32. The trade was a 0.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter acquired 475 shares of HEICO stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the purchase, the director now owns 1,730 shares of the company's stock, valued at $436,409.80. This represents a 37.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 2,650 shares of company stock worth $691,718. Company insiders own 8.10% of the company's stock.

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.