Heico (NYSE:HEI) Director Alan Schriesheim Acquires 795 Shares of Company Stock

Heico Corporation (NYSE:HEI) Director Alan Schriesheim purchased 795 shares of the business’s 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 acquisition, the director owned 1,202 shares of the company’s stock, valued at $264,800.60. This represents a 195.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Heico Stock Up 0.0%

Shares of Heico stock opened at $297.21 on Wednesday. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The company has a market cap of $41.54 billion, a P/E ratio of 49.45, a PEG ratio of 2.49 and a beta of 1.09. The company’s fifty day simple moving average is $326.78 and its two-hundred day simple moving average is $320.23.

Heico (NYSE:HEI) 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. The firm 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 company’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the company posted $1.26 EPS. Research analysts anticipate that Heico Corporation will post 6.28 EPS for the current year.

Institutional Trading of Heico

A number of hedge funds and other institutional investors have recently modified their holdings of HEI. Mirador Capital Partners LP increased its stake in shares of Heico by 4.0% in the 3rd quarter. Mirador Capital Partners LP now owns 5,974 shares of the aerospace company’s stock worth $1,811,000 after acquiring an additional 232 shares in the last quarter. Athena Wealth Management LLC lifted its position in Heico by 5.8% during the 3rd quarter. Athena Wealth Management LLC now owns 996 shares of the aerospace company’s stock valued at $302,000 after acquiring an additional 55 shares during the period. City Center Advisors LLC purchased a new position in Heico during the 3rd quarter valued at about $273,000. Bath Savings Trust Co boosted its stake in Heico by 5.4% during the third quarter. Bath Savings Trust Co now owns 49,570 shares of the aerospace company’s stock worth $15,029,000 after acquiring an additional 2,542 shares in the last quarter. Finally, CX Institutional boosted its stake in Heico by 12.7% during the third quarter. CX Institutional now owns 938 shares of the aerospace company’s stock worth $276,000 after acquiring an additional 106 shares in the last quarter. 27.12% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Heico

Here are the key news stories impacting Heico this week:

• Positive Sentiment: Seven Heico directors reported open-market purchases made on October 8. Six directors each bought 795 shares at approximately $220.30 per share, while Julie Neitzel purchased 592 shares at $294.93. Collectively, the purchases represented roughly $1.23 million of insider buying and increased each director’s existing stake, a signal that board members may view the recent share-price weakness as an attractive entry point. SEC insider transaction filings
• Positive Sentiment: Co-CEOs and Co-Chairmen Eric Mendelson and Victor received the Wright Brothers Memorial Award, providing favorable recognition of Heico’s leadership and aerospace-industry contributions. The award is primarily reputational and does not immediately change the company’s financial outlook. Wright Brothers Memorial Award article

Analyst Ratings Changes

Several analysts have commented on HEI shares. Deutsche Bank Aktiengesellschaft set a $421.00 price objective on shares of Heico and gave the stock a “buy” rating in a report on Wednesday, August 19th. Melius Research set a $350.00 price objective on Heico and gave the company a “hold” rating in a research report on Monday, September 14th. Citigroup increased their target price on Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Jefferies Financial Group set a $430.00 target price on Heico and gave the company a “buy” rating in a research note on Wednesday, August 26th. Finally, Morgan Stanley set a $365.00 price target on Heico and gave the company an “equal weight” rating in a research report on Wednesday, September 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.