Menta Capital LLC Buys 730 Shares of Heico Corp (NYSE:HEI)

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Menta Capital LLC lifted its holdings in Heico Corp (NYSE:HEI) by 10.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,430 shares of the aerospace company’s stock after acquiring an additional 730 shares during the period. Menta Capital LLC’s holdings in Heico were worth $994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the company. Banco Santander S.A. bought a new position in shares of Heico in the 2nd quarter worth about $330,000. C M Bidwell & Associates Ltd. raised its position in shares of Heico by 91.3% in the 2nd quarter. C M Bidwell & Associates Ltd. now owns 4,715 shares of the aerospace company’s stock worth $631,000 after acquiring an additional 2,250 shares in the last quarter. Commerce Bank raised its position in shares of Heico by 21.5% in the 2nd quarter. Commerce Bank now owns 3,749 shares of the aerospace company’s stock worth $502,000 after acquiring an additional 664 shares in the last quarter. Calamos Advisors LLC bought a new position in shares of Heico in the 2nd quarter worth about $2,702,000. Finally, Redpoint Investment Management Pty Ltd bought a new position in shares of Heico in the 2nd quarter worth about $320,000. 25.36% of the stock is owned by hedge funds and other institutional investors.

In other Heico news, CAO Steven M. Walker sold 4,200 shares of Heico stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $103.00, for a total transaction of $432,600.00. Following the transaction, the chief accounting officer now owns 2,062 shares of the company’s stock, valued at approximately $212,386. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric A. Mendelson sold 19,273 shares of Heico stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $102.92, for a total transaction of $1,983,577.16. Following the transaction, the insider now directly owns 1,035,932 shares in the company, valued at approximately $106,618,121.44. The disclosure for this sale can be found here. Insiders have sold a total of 167,473 shares of company stock valued at $16,698,107 in the last quarter. Company insiders own 9.23% of the company’s stock.

Shares of HEI traded down $0.50 during trading hours on Tuesday, hitting $143.78. The stock had a trading volume of 32,027 shares, compared to its average volume of 424,793. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.20 and a quick ratio of 1.56. The firm has a 50 day simple moving average of $139.08 and a 200-day simple moving average of $114.06. The firm has a market capitalization of $18.99 billion, a P/E ratio of 79.31, a price-to-earnings-growth ratio of 4.54 and a beta of 0.68. Heico Corp has a 1-year low of $71.47 and a 1-year high of $146.07.

Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.11. The business had revenue of $515.60 million during the quarter, compared to the consensus estimate of $480.17 million. Heico had a return on equity of 18.31% and a net margin of 15.36%. The company’s quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.55 EPS. Equities analysts predict that Heico Corp will post 2.24 EPS for the current fiscal year.

Several analysts have recently commented on the company. Cowen restated a “hold” rating and issued a $95.00 target price on shares of Heico in a research note on Wednesday, May 29th. Canaccord Genuity raised their target price on Heico from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, May 30th. SunTrust Banks raised their target price on Heico to $128.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Bank of America downgraded Heico from a “buy” rating to an “underperform” rating and set a $105.00 target price for the company. in a research note on Thursday, July 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Heico from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $118.00.

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. 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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Institutional Ownership by Quarter for Heico (NYSE:HEI)

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