Gardner Lewis Asset Management L P Sells 1,110 Shares of HEICO Co. (NYSE:HEI)

Gardner Lewis Asset Management L P trimmed its stake in shares of HEICO Co. (NYSE:HEI) by 9.4% in the second quarter, HoldingsChannel reports. The firm owned 10,643 shares of the aerospace company’s stock after selling 1,110 shares during the quarter. Gardner Lewis Asset Management L P’s holdings in HEICO were worth $2,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HEI. AGF Management Ltd. lifted its position in HEICO by 61.7% during the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after acquiring an additional 362,625 shares during the last quarter. Capital World Investors lifted its holdings in HEICO by 10.5% during the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after purchasing an additional 311,304 shares during the last quarter. Vantage Investment Partners LLC acquired a new stake in HEICO during the 2nd quarter worth approximately $26,993,000. EULAV Asset Management boosted its stake in HEICO by 23.4% in the 1st quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares during the period. Finally, Zeno Equity Partners LLP bought a new position in HEICO during the 4th quarter worth $11,365,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HEI has been the topic of several research reports. Stifel Nicolaus upped their price target on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, August 27th. Bank of America raised their price target on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Benchmark restated a “buy” rating and issued a $245.00 target price on shares of HEICO in a research report on Tuesday, August 27th. Finally, Barclays started coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, HEICO presently has an average rating of “Moderate Buy” and a consensus target price of $259.67.

Insider Buying and Selling at HEICO

In other news, Director Frank J. Schwitter purchased 475 shares of HEICO stock in a transaction dated Tuesday, September 3rd. The shares were bought at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other HEICO news, Director Frank J. Schwitter bought 475 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now directly owns 1,730 shares in the company, valued at $436,409.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the completion of the transaction, the insider now owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is currently owned by insiders.

HEICO Trading Down 0.2 %

Shares of HEICO stock opened at $261.79 on Wednesday. The firm’s 50 day moving average is $239.62 and its 200 day moving average is $218.78. The firm has a market capitalization of $36.26 billion, a PE ratio of 82.32, a price-to-earnings-growth ratio of 3.61 and a beta of 1.22. HEICO Co. has a 1 year low of $155.42 and a 1 year high of $264.22. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last posted its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million for the quarter, compared to analysts’ expectations of $995.34 million. During the same quarter in the previous year, the firm posted $0.77 earnings per share. The company’s revenue was up 37.3% on a year-over-year basis. Equities research analysts forecast that HEICO Co. will post 3.63 earnings per share for the current fiscal year.

HEICO Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were issued a $0.11 dividend. This represents a yield of 0.1%. The ex-dividend date was Monday, July 1st. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. HEICO’s dividend payout ratio is presently 6.92%.

About HEICO

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.