Insider Selling: HEICO Co. (NYSE:HEI) Director Sells $4,996,680.00 in Stock

HEICO Co. (NYSE:HEI) Director Alan Schriesheim sold 26,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $192.18, for a total transaction of $4,996,680.00. Following the transaction, the director now owns 155,862 shares in the company, valued at $29,953,559.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

HEICO Stock Up 2.1 %

Shares of NYSE:HEI opened at $194.50 on Thursday. The company has a quick ratio of 1.40, a current ratio of 3.17 and a debt-to-equity ratio of 0.75. HEICO Co. has a 52-week low of $153.63 and a 52-week high of $200.64. The company has a 50 day moving average of $188.48 and a two-hundred day moving average of $175.80. The company has a market capitalization of $26.91 billion, a price-to-earnings ratio of 63.56, a price-to-earnings-growth ratio of 3.11 and a beta of 1.17.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Monday, February 26th. The aerospace company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.08. HEICO had a net margin of 13.11% and a return on equity of 14.35%. The company had revenue of $896.36 million during the quarter, compared to the consensus estimate of $891.32 million. During the same quarter last year, the company earned $0.67 earnings per share. HEICO’s revenue for the quarter was up 44.4% on a year-over-year basis. As a group, analysts forecast that HEICO Co. will post 3.47 earnings per share for the current fiscal year.

Institutional Trading of HEICO

A number of hedge funds have recently made changes to their positions in the stock. Moody Lynn & Lieberson LLC grew its position in shares of HEICO by 2.6% during the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,395 shares of the aerospace company’s stock worth $428,000 after buying an additional 60 shares in the last quarter. Essex LLC grew its position in shares of HEICO by 5.4% during the third quarter. Essex LLC now owns 1,265 shares of the aerospace company’s stock worth $205,000 after buying an additional 65 shares in the last quarter. Janiczek Wealth Management LLC grew its position in shares of HEICO by 18.3% during the third quarter. Janiczek Wealth Management LLC now owns 447 shares of the aerospace company’s stock worth $72,000 after buying an additional 69 shares in the last quarter. Private Advisor Group LLC grew its position in shares of HEICO by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 12,456 shares of the aerospace company’s stock worth $2,228,000 after buying an additional 81 shares in the last quarter. Finally, Sunbelt Securities Inc. grew its position in shares of HEICO by 13.4% during the second quarter. Sunbelt Securities Inc. now owns 729 shares of the aerospace company’s stock worth $129,000 after buying an additional 86 shares in the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HEI. Stifel Nicolaus initiated coverage on shares of HEICO in a report on Friday, December 1st. They set a “buy” rating and a $200.00 price objective on the stock. Bank of America raised shares of HEICO from a “neutral” rating to a “buy” rating and set a $220.00 target price for the company in a research report on Thursday, January 25th. William Blair initiated coverage on shares of HEICO in a research report on Tuesday, December 12th. They set an “outperform” rating for the company. Royal Bank of Canada increased their target price on shares of HEICO from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Monday, February 26th. Finally, Truist Financial increased their target price on shares of HEICO from $190.00 to $229.00 and gave the stock a “buy” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.00.

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.