ETRADE Capital Management LLC Boosts Stake in Heico Corp (NYSE:HEI)

27 May 2020, 11:36 by Mitch Edgeman

ETRADE Capital Management LLC boosted its holdings in Heico Corp (NYSE:HEI) by 19.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,020 shares of the aerospace company’s stock after buying an additional 647 shares during the period. ETRADE Capital Management LLC’s holdings in Heico were worth $300,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Riverbridge Partners LLC lifted its holdings in shares of Heico by 3.4% in the 1st quarter. Riverbridge Partners LLC now owns 1,013,063 shares of the aerospace company’s stock valued at $75,585,000 after acquiring an additional 33,670 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Heico during the fourth quarter valued at approximately $30,945,000. AQR Capital Management LLC boosted its stake in Heico by 16.5% in the fourth quarter. AQR Capital Management LLC now owns 183,194 shares of the aerospace company’s stock valued at $20,912,000 after acquiring an additional 25,882 shares in the last quarter. TCW Group Inc. boosted its stake in Heico by 40.4% in the first quarter. TCW Group Inc. now owns 82,365 shares of the aerospace company’s stock valued at $6,146,000 after acquiring an additional 23,695 shares in the last quarter. Finally, Congress Asset Management Co. MA lifted its stake in shares of Heico by 1.6% during the first quarter. Congress Asset Management Co. MA now owns 66,027 shares of the aerospace company’s stock worth $4,926,000 after buying an additional 1,067 shares during the period. Institutional investors and hedge funds own 26.50% of the company’s stock.

HEI stock opened at $99.62 on Wednesday. Heico Corp has a fifty-two week low of $52.01 and a fifty-two week high of $147.93. The company has a quick ratio of 1.57, a current ratio of 3.39 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $12.66 billion, a P/E ratio of 36.90, a PEG ratio of 7.12 and a beta of 1.09. The company has a 50-day simple moving average of $83.61 and a 200 day simple moving average of $106.78.

Heico (NYSE:HEI) last issued its earnings results on Tuesday, May 26th. The aerospace company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.13. Heico had a return on equity of 21.76% and a net margin of 17.68%. The company had revenue of $468.15 million for the quarter, compared to the consensus estimate of $439.69 million. During the same quarter in the prior year, the company earned $0.60 EPS. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. Equities analysts anticipate that Heico Corp will post 2.08 EPS for the current year.

In other news, Director Frank J. Schwitter sold 700 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $85.08, for a total value of $59,556.00. Following the completion of the sale, the director now directly owns 613 shares of the company’s stock, valued at $52,154.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.56% of the stock is owned by corporate insiders.

A number of research firms recently issued reports on HEI. Vertical Research downgraded shares of Heico from a “buy” rating to a “hold” rating and decreased their target price for the company from $72.00 to $70.00 in a research report on Monday, March 30th. Jefferies Financial Group lowered shares of Heico from a “buy” rating to a “hold” rating and set a $85.00 price target on the stock. in a research report on Tuesday, March 31st. UBS Group decreased their price objective on shares of Heico from $110.00 to $84.00 and set a “neutral” rating on the stock in a report on Friday, April 17th. Robert W. Baird decreased their price objective on shares of Heico from $170.00 to $132.00 and set an “outperform” rating on the stock in a report on Monday, April 6th. Finally, SunTrust Banks cut their target price on shares of Heico from $75.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $101.80.

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.