Eulav Asset Management buys $15,996,219 stake in Heico Corp (HEI)

Heico Corp (HEI) : Eulav Asset Management scooped up 2,000 additional shares in Heico Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 223,567 shares of Heico Corp which is valued at $15,996,219.Heico Corp makes up approximately 0.84% of Eulav Asset Management’s portfolio.

Other Hedge Funds, Including , Select Equity Group boosted its stake in HEI in the latest quarter, The investment management firm added 143,585 additional shares and now holds a total of 1,288,371 shares of Heico Corp which is valued at $92,182,945. Heico Corp makes up approx 0.75% of Select Equity Group’s portfolio.Massachusetts Financial Services Co reduced its stake in HEI by selling 4,231 shares or 3.25% in the most recent quarter. The Hedge Fund company now holds 125,935 shares of HEI which is valued at $9,010,649. Convergence Investment Partners sold out all of its stake in HEI during the most recent quarter. The investment firm sold 14,968 shares of HEI which is valued $1,070,960.Blackrock Investment Management reduced its stake in HEI by selling 59,250 shares or 88.63% in the most recent quarter. The Hedge Fund company now holds 7,600 shares of HEI which is valued at $543,780.

Heico Corp opened for trading at $67.98 and hit $68.71 on the upside on Thursday, eventually ending the session at $68.59, with a gain of 0.93% or 0.63 points. The heightened volatility saw the trading volume jump to 1,52,013 shares. Company has a market cap of $4,613 M.

On the company’s financial health, Heico Corp reported $0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 24, 2016. Analyst had a consensus of $0.59. The company had revenue of $356.10 million for the quarter, compared to analysts expectations of $356.35 million. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on Heico Corp. Heico Corp was Downgraded by BofA/Merrill to ” Neutral” on Aug 30, 2016. Heico Corp was Downgraded by KeyBanc Capital Mkts to ” Sector Weight” on Aug 26, 2016.

HEICO Corporation is an aerospace and electronics company. The Company provides commercial aircraft replacement parts aircraft accessories component repair and overhaul services for avionic electro-mechanical flight surface hydraulic and pneumatic applications; distributes aircraft parts and manufactures other critical aircraft parts. It operates through two operating segments: the Flight Support Group (FSG) and the Electronic Technologies Group (ETG). The Flight Support Group designs manufactures repairs overhauls and distributes jet engine and aircraft component replacement parts. Its Electronic Technologies Group designs and manufactures electronic electro-optical microwave and other components found in aviation broadcast defense homeland security medical space telecom and other complex equipment. Its customers include airlines overhaul shops satellite manufacturers commercial and defense equipment producers and telecommunications equipment suppliers.

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