HEICO downgraded to Sector Perform from Outperform at RBC Capital RBC Capital believes HEICO's mix shift and lower growth profile going forward will pressure its premium multiple. Price target lowered to $39 from $45.
HEICO acquires Aerospace & Commercial Technologies, terms not disclosed HEICO announced it has acquired 80.1% of Aerospace & Commercial Technologies, or ACT, a provider of products and services necessary to maintain up-to-date F-16 fighter aircraft operational capabilities. ACT's leadership team will continue to own 19.9% of ACT. The purchase price and financial details were not disclosed. HEICO stated that it expects the acquisition to be accretive to its earnings within the first year following the acquisition.