HEICO Co. (NYSE:HEI - Get Free Report) Director Frank J. Schwitter sold 356 shares of HEICO stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director now directly owns 1,500 shares of the company's stock, valued at approximately $448,650. The trade was a 19.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
HEICO Stock Up 0.8%
HEI stock traded up $2.50 during midday trading on Friday, hitting $303.64. 391,135 shares of the company's stock were exchanged, compared to its average volume of 476,451. The firm has a 50 day moving average price of $264.05 and a 200-day moving average price of $253.23. The stock has a market capitalization of $42.24 billion, a price-to-earnings ratio of 82.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07. HEICO Co. has a 12-month low of $216.68 and a 12-month high of $304.80. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60.
HEICO (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. On average, analysts anticipate that HEICO Co. will post 4.2 EPS for the current year.
Institutional Investors Weigh In On HEICO
Several hedge funds and other institutional investors have recently made changes to their positions in HEI. Ridgewood Investments LLC grew its stake in HEICO by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock worth $26,000 after buying an additional 46 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of HEICO in the 1st quarter valued at approximately $27,000. NBC Securities Inc. bought a new stake in HEICO in the first quarter valued at approximately $27,000. Compass Financial Services Inc acquired a new stake in shares of HEICO during the 4th quarter worth about $26,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of HEICO by 17,800.0% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock worth $48,000 after purchasing an additional 178 shares in the last quarter. 27.12% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently commented on HEI. Truist Financial cut their price objective on shares of HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. UBS Group boosted their price objective on HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Barclays set a $280.00 price objective on shares of HEICO and gave the stock an "equal weight" rating in a research report on Monday, June 2nd. William Blair restated an "outperform" rating on shares of HEICO in a research note on Tuesday, March 25th. Finally, Wall Street Zen raised HEICO from a "hold" rating to a "buy" rating in a research note on Friday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $279.45.
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About HEICO
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HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.
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