Heico (NYSE:HEI) Director Buys 795 Shares of Stock

Heico Corporation (NYSE:HEI) Director Nandakumar Cheruvatath acquired 795 shares of Heico stock in a transaction that occurred on Thursday, October 8th. The stock was bought at an average price of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the acquisition, the director owned 4,877 shares in the company, valued at $1,074,403.10. This trade represents a 19.48% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Heico Trading Up 0.0%

NYSE HEI traded up $0.12 during trading hours on Tuesday, reaching $297.21. The company had a trading volume of 477,999 shares, compared to its average volume of 578,031. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $41.54 billion, a P/E ratio of 49.45, a price-to-earnings-growth ratio of 2.51 and a beta of 1.09. The stock has a 50-day moving average of $328.21 and a 200 day moving average of $320.11. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86.

Heico (NYSE:HEI) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.16. The business had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period last year, the business earned $1.26 earnings per share. As a group, research analysts anticipate that Heico Corporation will post 6.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Maridea Wealth Management LLC purchased a new stake in Heico during the 2nd quarter worth approximately $1,128,000. Silvant Capital Management LLC acquired a new stake in Heico during the 2nd quarter worth approximately $9,385,000. SBI Okasan Asset Management Co.Ltd. acquired a new stake in Heico during the 2nd quarter worth approximately $1,262,000. Cypress Capital Management LLC WY acquired a new stake in Heico during the 2nd quarter worth approximately $1,315,000. Finally, Safeguard Investment Advisory Group LLC purchased a new position in Heico in the 2nd quarter valued at approximately $2,330,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Melius Research set a $350.00 target price on shares of Heico and gave the company a “hold” rating in a report on Monday, September 14th. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. TD Cowen lowered their price target on Heico from $350.00 to $330.00 and set a “hold” rating for the company in a research report on Friday. Morgan Stanley set a $365.00 price target on Heico and gave the stock an “equal weight” rating in a research report on Wednesday, September 2nd. Finally, Weiss Ratings upgraded Heico from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, July 16th. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Heico Company Profile

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.