Bright Rock Capital Management LLC Invests $1.83 Million in HEICO Co. (NYSE:HEI)

Bright Rock Capital Management LLC bought a new stake in HEICO Co. (NYSE:HEI - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,000 shares of the aerospace company's stock, valued at approximately $1,830,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HEI. HWG Holdings LP acquired a new stake in shares of HEICO in the second quarter valued at approximately $3,283,000. Driehaus Capital Management LLC lifted its holdings in HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company's stock valued at $43,357,000 after purchasing an additional 77,067 shares during the last quarter. Security National Bank of SO Dak bought a new position in HEICO during the second quarter worth $206,000. Scientech Research LLC acquired a new position in shares of HEICO in the second quarter valued at $534,000. Finally, AXA S.A. raised its position in shares of HEICO by 11.0% in the second quarter. AXA S.A. now owns 101,980 shares of the aerospace company's stock valued at $22,804,000 after purchasing an additional 10,143 shares during the period. Institutional investors own 27.12% of the company's stock.

Insider Activity at HEICO

In related news, Director Frank J. Schwitter bought 475 shares of the firm's stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now owns 1,730 shares in the company, valued at $436,409.80. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Frank J. Schwitter purchased 475 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now owns 1,730 shares of the company's stock, valued at $436,409.80. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eric A. Mendelson sold 8,864 shares of the business's stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares in the company, valued at approximately $40,152,276.54. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 82,374 shares of company stock valued at $15,061,997 in the last quarter. Insiders own 8.10% of the company's stock.

Analyst Ratings Changes

HEI has been the subject of several research reports. Truist Financial raised their price objective on shares of HEICO from $248.00 to $264.00 and gave the stock a "buy" rating in a research report on Wednesday, August 28th. Bank of America increased their price objective on HEICO from $250.00 to $285.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Robert W. Baird boosted their target price 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. Benchmark reaffirmed a "buy" rating and set a $245.00 price target on shares of HEICO in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada boosted their price objective on shares of HEICO from $250.00 to $272.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $263.56.

HEICO Price Performance

NYSE HEI traded up $1.04 on Friday, hitting $261.35. 230,240 shares of the company's stock were exchanged, compared to its average volume of 380,567. HEICO Co. has a 52 week low of $155.42 and a 52 week high of $269.38. The stock has a 50-day moving average of $249.02 and a 200-day moving average of $225.10. 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 stock has a market cap of $36.20 billion, a price-to-earnings ratio of 82.21, a P/E/G ratio of 3.79 and a beta of 1.22.

HEICO (NYSE:HEI - Get Free Report) last released its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $995.34 million. During the same quarter in the previous year, the business posted $0.77 earnings per share. The business's revenue for the quarter was up 37.3% on a year-over-year basis. Analysts expect that HEICO Co. will post 3.64 earnings per share for the current year.

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.