Heico (NYSE:HEI) Director Adolfo Henriques Acquires 795 Shares of Company Stock

Heico Corporation (NYSE:HEI) Director Adolfo Henriques acquired 795 shares of the stock in a transaction that occurred on Thursday, October 8th. The shares were bought at an average price of $220.30 per share, with a total value of $175,138.50. Following the completion of the purchase, the director owned 24,864 shares in the company, valued at $5,477,539.20. The trade was a 3.30% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Heico Price Performance

Shares of NYSE HEI opened at $297.21 on Wednesday. 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 has a market capitalization of $41.54 billion, a PE ratio of 49.45, a P/E/G ratio of 2.49 and a beta of 1.09. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The business’s fifty day moving average price is $326.78 and its two-hundred day moving average price is $320.23.

Heico (NYSE:HEI) last announced its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (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 company had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $1.26 earnings per share. The company’s revenue for the quarter was up 23.1% compared to the same quarter last year. On average, research analysts expect that Heico Corporation will post 6.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in HEI. Diamant Asset Management Inc. grew its stake 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 purchasing an additional 760,687 shares in the last quarter. Munro Partners increased 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 purchasing an additional 87,265 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Heico during the second quarter valued at $54,386,000. Weitz Investment Management Inc. acquired a new position in shares of Heico during the second quarter valued at $52,737,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Heico during the second quarter valued at about $50,276,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

Heico News Summary

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group reiterated a “neutral” rating and issued a $396.00 price objective (up from $382.00) on shares of Heico in a research report on Thursday, August 27th. Citigroup upped their target price on shares of Heico from $429.00 to $441.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Weiss Ratings upgraded shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, July 16th. Guggenheim initiated coverage on shares of Heico in a research note on Monday, September 14th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Three investment 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 company. According to data from MarketBeat.com, Heico currently has a consensus rating of “Moderate Buy” and an average price target of $387.00.

About Heico

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.