Heico (NYSE:HEI) Announces Quarterly Earnings Results

Heico (NYSE:HEI) issued its quarterly earnings data on Wednesday. The aerospace company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.33 by $0.33, Zacks reports. Heico had a net margin of 15.38% and a return on equity of 16.57%.

Heico Stock Up 0.5%

Shares of HEI traded up $1.47 on Wednesday, hitting $310.33. 787,164 shares of the stock traded hands, compared to its average volume of 648,909. The company has a market capitalization of $43.30 billion, a PE ratio of 61.33, a P/E/G ratio of 3.69 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.41 and a current ratio of 3.06. The business has a 50 day simple moving average of $283.99 and a 200 day simple moving average of $311.25. Heico has a one year low of $256.11 and a one year high of $361.69.

Wall Street Analyst Weigh In

HEI has been the subject of a number of analyst reports. Truist Financial raised shares of Heico to a “strong-buy” rating in a research note on Friday, May 1st. Citigroup decreased their target price on shares of Heico from $400.00 to $323.00 and set a “buy” rating for the company in a research note on Thursday, April 2nd. BNP Paribas Exane raised shares of Heico from a “neutral” rating to an “outperform” rating in a research note on Friday, February 27th. Rothschild & Co Redburn set a $360.00 target price on shares of Heico and gave the company a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings downgraded shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $359.81.

Insider Buying and Selling at Heico

In related news, Director Julie Neitzel sold 676 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Heico

A number of large investors have recently added to or reduced their stakes in HEI. Acadian Asset Management LLC grew its position in Heico by 216.7% in the 1st quarter. Acadian Asset Management LLC now owns 1,381 shares of the aerospace company’s stock worth $368,000 after purchasing an additional 945 shares during the period. Worldquant Millennium Advisors LLC bought a new stake in Heico in the 2nd quarter worth approximately $2,338,000. PDT Partners LLC grew its position in Heico by 52.6% in the 2nd quarter. PDT Partners LLC now owns 39,019 shares of the aerospace company’s stock worth $12,798,000 after purchasing an additional 13,443 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Heico by 10.8% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 4,794 shares of the aerospace company’s stock worth $1,572,000 after purchasing an additional 468 shares during the period. Finally, IHT Wealth Management LLC grew its position in Heico by 2.1% in the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock worth $1,875,000 after purchasing an additional 117 shares during the period. Institutional investors own 27.12% of the company’s stock.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.