Professional Planning reduced its holdings in shares of Heico Corp (NYSE:HEI) by 3.0% during the third quarter, Holdings Channel reports. The fund owned 17,918 shares of the aerospace company’s stock after selling 546 shares during the period. Heico comprises about 2.4% of Professional Planning’s investment portfolio, making the stock its 15th biggest position. Professional Planning’s holdings in Heico were worth $2,238,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Griffin Asset Management Inc. bought a new position in Heico during the second quarter valued at approximately $31,000. Doyle Wealth Management bought a new position in Heico during the second quarter valued at approximately $171,000. Ibex Investors LLC bought a new position in Heico during the second quarter valued at approximately $229,000. Fox Run Management L.L.C. bought a new position in Heico during the third quarter valued at approximately $237,000. Finally, FineMark National Bank & Trust bought a new position in Heico during the second quarter valued at approximately $239,000. Institutional investors and hedge funds own 25.56% of the company’s stock.
A number of analysts have recently weighed in on the company. ValuEngine lowered Heico from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Robert W. Baird increased their price objective on Heico from $125.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, August 13th. Canaccord Genuity increased their price objective on Heico from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. UBS Group lowered Heico from a “neutral” rating to a “sell” rating and increased their price objective for the company from $120.00 to $134.00 in a research note on Tuesday, September 3rd. Finally, Credit Suisse Group increased their price objective on Heico from $133.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Heico presently has a consensus rating of “Hold” and an average target price of $126.60.
Shares of NYSE:HEI traded down $2.45 during trading on Friday, reaching $118.21. 20,521 shares of the company traded hands, compared to its average volume of 572,302. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 65.33, a P/E/G ratio of 3.81 and a beta of 0.60. Heico Corp has a 52-week low of $71.47 and a 52-week high of $147.93. The company has a current ratio of 2.98, a quick ratio of 1.44 and a debt-to-equity ratio of 0.39. The business’s fifty day moving average is $129.88 and its 200-day moving average is $123.76.
Heico (NYSE:HEI) last released its quarterly earnings data on Tuesday, August 27th. The aerospace company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $532.32 million during the quarter, compared to analyst estimates of $510.67 million. Heico had a return on equity of 18.58% and a net margin of 15.55%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, sell-side analysts predict that Heico Corp will post 2.31 earnings per share for the current fiscal year.
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.
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