Virtu Financial LLC Acquires 2,962 Shares of HEICO Co. (NYSE:HEI)

Virtu Financial LLC grew its holdings in shares of HEICO Co. (NYSE:HEI) by 54.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,411 shares of the aerospace company’s stock after buying an additional 2,962 shares during the quarter. Virtu Financial LLC’s holdings in HEICO were worth $1,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HEI. J.W. Cole Advisors Inc. purchased a new stake in HEICO during the second quarter valued at approximately $218,000. AdvisorShares Investments LLC raised its holdings in HEICO by 7.4% during the 2nd quarter. AdvisorShares Investments LLC now owns 32,593 shares of the aerospace company’s stock valued at $7,190,000 after buying an additional 2,244 shares during the period. AGF Management Ltd. lifted its position in HEICO by 61.7% in the second quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after buying an additional 362,625 shares during the last quarter. Andra AP fonden bought a new stake in HEICO in the second quarter worth $45,000. Finally, Emerald Advisers LLC increased its position in HEICO by 101.8% during the second quarter. Emerald Advisers LLC now owns 2,438 shares of the aerospace company’s stock valued at $545,000 after acquiring an additional 1,230 shares during the last quarter. Institutional investors own 27.12% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the sale, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Eric A. Mendelson sold 2,832 shares of HEICO 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 transaction, the insider now directly owns 246,060 shares of the company’s stock, valued at $44,305,563.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Eric A. Mendelson sold 8,864 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The disclosure for this sale can be found here. Insiders have sold a total of 85,206 shares of company stock worth $15,571,927 in the last three months. Corporate insiders own 8.10% of the company’s stock.

HEICO Stock Performance

HEICO stock opened at $261.79 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The company has a market capitalization of $36.26 billion, a PE ratio of 82.33, a P/E/G ratio of 3.61 and a beta of 1.22. The company has a 50 day moving average price of $239.62 and a 200-day moving average price of $218.78. HEICO Co. has a fifty-two week low of $155.42 and a fifty-two week high of $264.22.

HEICO (NYSE:HEI) last released its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. During the same period last year, the business posted $0.77 EPS. HEICO’s quarterly revenue was up 37.3% on a year-over-year basis. As a group, equities analysts forecast that HEICO Co. will post 3.63 earnings per share for the current year.

HEICO Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. HEICO’s dividend payout ratio is 6.92%.

Analysts Set New Price Targets

HEI has been the topic of several recent analyst reports. Bank of America increased their target price on shares of HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Morgan Stanley raised shares of HEICO from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Robert W. Baird boosted their target price on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft upped their target price on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus raised their price target on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $259.67.

HEICO Profile

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.