Insider Buying: Heico (NYSE:HEI) Director Purchases $174,598.56 in Stock

Heico Corporation (NYSE:HEI) Director Julie Neitzel acquired 592 shares of Heico stock in a transaction dated Thursday, October 8th. The shares were acquired at an average price of $294.93 per share, with a total value of $174,598.56. Following the transaction, the director owned 1,010 shares in the company, valued at approximately $297,879.30. This represents a 141.63% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Heico Stock Performance

Shares of HEI opened at $308.46 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. The firm’s 50 day moving average is $324.29 and its 200-day moving average is $320.66. Heico Corporation has a 12-month low of $256.11 and a 12-month high of $376.86. The stock has a market capitalization of $43.11 billion, a P/E ratio of 51.33, a P/E/G ratio of 2.50 and a beta of 1.09.

Heico (NYSE:HEI) last released its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating 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 business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.36 billion. During the same period in the prior year, the business earned $1.26 earnings per share. The business’s quarterly revenue was up 23.1% on a year-over-year basis. Equities research analysts anticipate that Heico Corporation will post 6.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Diamant Asset Management Inc. increased its position in shares of Heico by 25,698.9% in the first quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock worth $209,392,000 after acquiring an additional 760,687 shares in the last quarter. Munro Partners raised its holdings in shares of Heico by 44.2% during the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after acquiring an additional 87,265 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Heico in the 2nd quarter valued at approximately $54,386,000. Weitz Investment Management Inc. purchased a new stake in shares of Heico in the 2nd quarter valued at approximately $52,737,000. Finally, Freestone Grove Partners LP purchased a new stake in shares of Heico in the 2nd quarter valued at approximately $50,276,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on HEI. Melius Research set a $350.00 price target on Heico and gave the company a “hold” rating in a report on Monday, September 14th. Weiss Ratings reissued a “buy (b-)” rating on shares of Heico in a research note on Wednesday. Wells Fargo & Company decreased their target price on Heico from $350.00 to $335.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Finally, Citigroup boosted 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. Three research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently 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.