Insider Buying: Heico (NYSE:HEI) Director Purchases $175,138.50 in Stock

Heico Corporation (NYSE:HEI) Director Carol Fine 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 transaction, the director owned 1,467 shares in the company, valued at $323,180.10. This represents a 118.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Heico Price Performance

Shares of NYSE:HEI opened at $308.46 on Friday. Heico Corporation has a one year low of $256.11 and a one year high of $376.86. 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 company has a market cap of $43.11 billion, a price-to-earnings ratio of 51.33, a PEG ratio of 2.50 and a beta of 1.09. The firm has a 50 day simple moving average of $324.29 and a 200 day simple moving average of $320.66.

Heico (NYSE:HEI) last posted its earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.51 by $0.16. The firm had revenue of $1.41 billion for 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 revenue was up 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.26 earnings per share. Research analysts predict that Heico Corporation will post 6.28 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HEI. Melius Research set a $350.00 price objective on Heico and gave the company a “hold” rating in a report on Monday, September 14th. Morgan Stanley set a $365.00 target price on Heico and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. The Goldman Sachs Group reiterated a “buy” rating and issued a $491.00 target price on shares of Heico in a research report on Monday, August 31st. Wall Street Zen downgraded Heico from a “buy” rating to a “hold” rating in a research report on Saturday, October 3rd. Finally, Wells Fargo & Company cut their price target on Heico from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 30th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $387.00.

Hedge Funds Weigh In On Heico

Hedge funds have recently modified their holdings of the business. Diamant Asset Management Inc. lifted its holdings in shares of 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 purchasing an additional 760,687 shares during the period. Munro Partners grew its stake in shares of Heico by 44.2% in the fourth quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock worth $92,190,000 after purchasing an additional 87,265 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Heico in the second quarter valued at $54,386,000. Weitz Investment Management Inc. acquired a new stake in Heico in the second quarter valued at $52,737,000. Finally, Freestone Grove Partners LP acquired a new stake in Heico in the second quarter valued at $50,276,000. Institutional investors and hedge funds own 27.12% of the company’s stock.

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.