Penobscot Investment Management Company Inc. Acquires 1,028 Shares of Heico Corp (HEI)

Penobscot Investment Management Company Inc. raised its holdings in Heico Corp (NYSE:HEI) by 10.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,267 shares of the aerospace company’s stock after purchasing an additional 1,028 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Heico were worth $1,043,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gradient Investments LLC acquired a new position in shares of Heico in the 3rd quarter valued at approximately $116,000. Financial Architects Inc acquired a new position in shares of Heico in the 2nd quarter valued at approximately $123,000. TRUE Private Wealth Advisors acquired a new position in shares of Heico in the 3rd quarter valued at approximately $151,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Heico in the 2nd quarter valued at approximately $164,000. Finally, NewSquare Capital LLC acquired a new position in shares of Heico in the 2nd quarter valued at approximately $184,000. 26.77% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of Heico from $83.00 to $95.00 and gave the company a “neutral” rating in a research report on Thursday, August 30th. Jefferies Financial Group boosted their target price on shares of Heico to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. SunTrust Banks boosted their target price on shares of Heico to $97.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Canaccord Genuity boosted their target price on shares of Heico from $84.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, August 29th. Finally, ValuEngine upgraded shares of Heico from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $88.60.

In related news, insider Victor H. Mendelson acquired 1,311 shares of the stock in a transaction that occurred on Tuesday, October 9th. The stock was acquired at an average cost of $88.21 per share, for a total transaction of $115,643.31. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Thomas M. Culligan acquired 1,312 shares of the stock in a transaction that occurred on Tuesday, October 9th. The shares were bought at an average price of $88.21 per share, with a total value of $115,731.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 6,456 shares of company stock valued at $511,093. 9.88% of the stock is owned by corporate insiders.

Shares of NYSE:HEI opened at $85.10 on Friday. The company has a market capitalization of $10.80 billion, a PE ratio of 63.04, a PEG ratio of 3.55 and a beta of 0.76. The company has a quick ratio of 1.32, a current ratio of 2.86 and a debt-to-equity ratio of 0.44. Heico Corp has a 12 month low of $55.43 and a 12 month high of $94.12.

Heico (NYSE:HEI) last released its quarterly earnings data on Monday, August 27th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.04. The business had revenue of $465.83 million during the quarter, compared to analysts’ expectations of $440.68 million. Heico had a net margin of 14.26% and a return on equity of 16.15%. The firm’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. As a group, research analysts expect that Heico Corp will post 1.89 EPS for the current year.

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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.

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Institutional Ownership by Quarter for Heico (NYSE:HEI)

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