Heico (NYSE:HEI) Director Thomas Culligan Acquires 795 Shares of Company Stock

Heico Corporation (NYSE:HEI) Director Thomas Culligan bought 795 shares of Heico stock in a transaction dated Thursday, October 8th. The stock was purchased at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the purchase, the director owned 11,825 shares of the company’s stock, valued at approximately $2,605,047.50. This trade represents a 7.21% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Heico Price Performance

Heico stock opened at $297.21 on Wednesday. The firm has a 50-day moving average price of $326.78 and a 200-day moving average price of $320.23. The firm has a market capitalization of $41.54 billion, a PE ratio of 49.45, a price-to-earnings-growth ratio of 2.49 and a beta of 1.09. 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.

Heico (NYSE:HEI) last posted its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.16. The company had revenue of $1.41 billion during the quarter, compared to analysts’ expectations of $1.36 billion. Heico had a return on equity of 18.00% and a net margin of 16.38%. Heico’s revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.26 EPS. As a group, equities research analysts forecast that Heico Corporation will post 6.28 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HEI shares. UBS Group restated a “neutral” rating and set a $396.00 price target (up from $382.00) on shares of Heico in a research note on Thursday, August 27th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $491.00 price objective on shares of Heico in a research note on Monday, August 31st. Wall Street Zen lowered shares of Heico from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Morgan Stanley set a $365.00 target price on shares of Heico and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. Finally, Deutsche Bank Aktiengesellschaft set a $421.00 target price on shares of Heico and gave the company a “buy” rating in a research report on Wednesday, August 19th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Heico currently has an average rating of “Moderate Buy” and a consensus target price of $387.00.

Key Headlines 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

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.