TCW Group Inc. Reduces Holdings in HEICO Co. (NYSE:HEI)

TCW Group Inc. lessened its holdings in HEICO Co. (NYSE:HEI - Free Report) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,125 shares of the aerospace company's stock after selling 10,883 shares during the period. TCW Group Inc. owned approximately 0.14% of HEICO worth $49,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Andra AP fonden acquired a new position in HEICO in the second quarter valued at about $45,000. Center for Financial Planning Inc. purchased a new stake in shares of HEICO in the 2nd quarter valued at $52,000. American National Bank purchased a new stake in shares of HEICO in the 2nd quarter valued at $66,000. Rakuten Securities Inc. acquired a new position in HEICO during the 3rd quarter worth about $81,000. Finally, FSC Wealth Advisors LLC acquired a new position in HEICO in the 2nd quarter valued at about $73,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Stock Performance

Shares of HEI traded up $2.47 during mid-day trading on Wednesday, reaching $258.52. 381,561 shares of the company's stock were exchanged, compared to its average volume of 386,952. The stock has a market capitalization of $35.83 billion, a PE ratio of 75.10, a price-to-earnings-growth ratio of 3.20 and a beta of 1.24. The business's fifty day simple moving average is $262.89 and its 200-day simple moving average is $246.30. The company has a debt-to-equity ratio of 0.63, a current ratio of 3.30 and a quick ratio of 1.47. HEICO Co. has a 52-week low of $169.70 and a 52-week high of $283.60.

Analyst Upgrades and Downgrades

HEI has been the subject of several recent research reports. Royal Bank of Canada raised 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. Deutsche Bank Aktiengesellschaft lifted their target price on HEICO from $235.00 to $271.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Benchmark reaffirmed a "buy" rating and issued a $245.00 price target on shares of HEICO in a research report on Tuesday, August 27th. Barclays began coverage on HEICO in a research report on Monday, August 19th. They set an "equal weight" rating and a $250.00 price objective for the company. Finally, Truist Financial upped their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, HEICO presently has an average rating of "Moderate Buy" and an average target price of $270.70.

Insiders Place Their Bets

In other HEICO news, insider Victor H. Mendelson purchased 726 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were purchased at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the purchase, the insider now directly owns 1,234,950 shares in the company, valued at $324,717,753. This represents a 0.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan Schriesheim acquired 724 shares of the company's stock in a transaction that occurred on Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, for a total transaction of $190,368.56. Following the acquisition, the director now directly owns 174,878 shares of the company's stock, valued at $45,982,421.32. This trade represents a 0.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,175 shares of company stock valued at $571,895. 8.10% of the stock is owned by company insiders.

HEICO 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.