Concentric Capital Strategies LP Sells 3,348 Shares of HEICO Co. (NYSE:HEI)

Concentric Capital Strategies LP decreased its position in shares of HEICO Co. (NYSE:HEI) by 32.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,117 shares of the aerospace company’s stock after selling 3,348 shares during the quarter. Concentric Capital Strategies LP’s holdings in HEICO were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Founders Capital Management purchased a new stake in HEICO during the 2nd quarter valued at $138,000. Smith Anglin Financial LLC purchased a new stake in shares of HEICO during the second quarter valued at $213,000. Gunderson Capital Management Inc. bought a new stake in HEICO in the 2nd quarter worth about $2,628,000. Gateway Investment Advisers LLC raised its position in HEICO by 1.6% in the 2nd quarter. Gateway Investment Advisers LLC now owns 54,666 shares of the aerospace company’s stock worth $12,224,000 after buying an additional 885 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in HEICO during the 2nd quarter valued at about $235,000. Institutional investors own 27.12% of the company’s stock.

Insider Activity at HEICO

In other HEICO news, insider Victor H. Mendelson acquired 726 shares of the stock in a transaction dated Friday, October 18th. The shares were acquired at an average cost of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the transaction, the insider now directly owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. The trade was a 0.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Laurans A. Mendelson acquired 725 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $262.94 per share, with a total value of $190,631.50. Following the purchase, the chief executive officer now owns 929,984 shares of the company’s stock, valued at approximately $244,529,992.96. This trade represents a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 2,175 shares of company stock worth $571,895. 8.10% of the stock is owned by company insiders.

HEICO Stock Performance

Shares of HEI opened at $268.76 on Tuesday. The business has a 50-day simple moving average of $262.68 and a two-hundred day simple moving average of $243.90. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. HEICO Co. has a 52 week low of $169.70 and a 52 week high of $283.60. The stock has a market cap of $37.25 billion, a price-to-earnings ratio of 78.82, a PEG ratio of 3.32 and a beta of 1.24.

Analysts Set New Price Targets

Several research firms have recently weighed in on HEI. Benchmark reissued a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Bank of America lifted their target price on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft increased their price target on HEICO from $235.00 to $271.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. UBS Group assumed coverage on HEICO in a report on Tuesday, October 15th. They issued a “neutral” rating and a $277.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $270.70.

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.