Brown Advisory Inc. reduced its holdings in shares of Heico Corp (NYSE:HEI) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 795,033 shares of the aerospace company’s stock after selling 111,854 shares during the period. Brown Advisory Inc. owned about 0.94% of Heico worth $71,401,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in HEI. PNC Financial Services Group Inc. lifted its position in Heico by 3.7% during the second quarter. PNC Financial Services Group Inc. now owns 674,898 shares of the aerospace company’s stock valued at $48,483,000 after buying an additional 24,299 shares during the period. First Trust Advisors LP increased its holdings in shares of Heico by 42.7% during the second quarter. First Trust Advisors LP now owns 419,333 shares of the aerospace company’s stock valued at $30,125,000 after acquiring an additional 125,544 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Heico by 0.3% during the third quarter. Copeland Capital Management LLC now owns 384,041 shares of the aerospace company’s stock valued at $34,491,000 after acquiring an additional 1,108 shares in the last quarter. Fred Alger Management Inc. increased its holdings in shares of Heico by 23.7% during the second quarter. Fred Alger Management Inc. now owns 380,992 shares of the aerospace company’s stock valued at $27,370,000 after acquiring an additional 72,901 shares in the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in shares of Heico by 54.9% during the second quarter. Artisan Partners Limited Partnership now owns 283,149 shares of the aerospace company’s stock valued at $20,341,000 after acquiring an additional 100,315 shares in the last quarter. 26.98% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on HEI. Zacks Investment Research upgraded Heico from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Wednesday, September 27th. Jefferies Group reissued a “hold” rating and issued a $89.00 target price (up from $75.00) on shares of Heico in a research report on Thursday, August 24th. BidaskClub cut Heico from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. SunTrust Banks lifted their price objective on Heico to $96.00 and gave the company a “buy” rating in a research report on Monday, December 4th. Finally, Seaport Global Securities initiated coverage on Heico in a report on Tuesday, September 12th. They issued a “neutral” rating and a $90.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Heico has an average rating of “Buy” and an average price target of $92.78.
Shares of Heico Corp (HEI) opened at $96.13 on Friday. Heico Corp has a 12 month low of $60.00 and a 12 month high of $96.57. The firm has a market capitalization of $8,118.66, a price-to-earnings ratio of 47.40, a P/E/G ratio of 4.36 and a beta of 0.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.39 and a current ratio of 2.89.
In related news, VP Thomas S. Irwin sold 20,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $76.28, for a total transaction of $1,525,600.00. Following the sale, the vice president now directly owns 31,110 shares of the company’s stock, valued at $2,373,070.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark H. Hildebrandt purchased 1,316 shares of the stock in a transaction on Thursday, October 5th. The shares were acquired at an average price of $76.13 per share, for a total transaction of $100,187.08. The disclosure for this purchase can be found here. Corporate insiders own 9.76% of the company’s stock.
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Heico Company Profile
HEICO Corporation manufactures Federal Aviation Administration (FAA)-approved jet engine and aircraft component replacement parts, other than the original equipment manufacturers (OEMs) and their subcontractors. The Company also manufactures various types of electronic equipment for the aviation, medical, telecommunications and electronics industries.
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