Insider Buying: Heico (NYSE:HEI) Director Acquires 795 Shares of Stock

Heico Corporation (NYSE:HEI – Get Free Report) Director Thomas Culligan purchased 795 shares of the stock in a transaction dated Thursday, October 8th. The shares were 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 11,825 shares in the company, valued at $2,605,047.50. This represents a 7.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Heico Stock Up 0.0%

HEI stock traded up $0.12 during mid-day trading on Tuesday, hitting $297.21. The stock had a trading volume of 477,999 shares, compared to its average volume of 578,031. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a fifty day moving average of $328.21 and a 200 day moving average of $320.11. 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 price-to-earnings ratio of 49.45, a PEG ratio of 2.51 and a beta of 1.09.

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Heico (NYSE:HEI – Get Free Report) last posted its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The firm had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the prior year, the business posted $1.26 earnings per share. The business’s quarterly revenue was up 23.1% on a year-over-year basis. On average, equities analysts expect that Heico Corporation will post 6.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Heico

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osterweis Capital Management Inc. acquired a new position in Heico during the 2nd quarter valued at $81,000. Bayban bought a new stake in Heico in the 4th quarter valued at $89,000. Oslo Pensjonsforsikring AS acquired a new stake in Heico in the 1st quarter worth $100,000. Parvin Asset Management LLC acquired a new stake in Heico in the 2nd quarter worth $145,000. Finally, Pittenger & Anderson Inc. grew its position in Heico by 20.2% in the 1st quarter. Pittenger & Anderson Inc. now owns 553 shares of the aerospace company’s stock worth $152,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 27.12% of the company’s stock.

Wall Street Analyst Weigh In

HEI has been the topic of a number of analyst reports. Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. TD Cowen reduced their target price on Heico from $350.00 to $330.00 and set a “hold” rating for the company in a report on Friday. Morgan Stanley set a $365.00 target price on Heico and gave the stock an “equal weight” rating in a research report on Wednesday, September 2nd. Deutsche Bank Aktiengesellschaft set a $421.00 price target on Heico and gave the company a “buy” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $387.00.

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Heico Company Profile

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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.

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