Heico (NYSE:HEI) Director Buys $163,920.96 in Stock

Key Points

• Heico Director Alan Schriesheim purchased 672 shares of the company's stock for $163,920.96 on October 10th, reflecting an increase in his ownership.
• The company reported earnings of $1.26 per share for the last quarter, exceeding analysts' expectations of $1.12 by $0.14 and achieving a year-over-year revenue growth of 15.7%.
• Equities analysts have recently raised their price targets for Heico, with estimates now ranging from $300.00 to $400.00, reflecting a consensus rating of "Moderate Buy."

Heico Corporation (NYSE:HEI - Get Free Report) Director Alan Schriesheim purchased 672 shares of the firm's stock in a transaction on Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the completion of the acquisition, the director owned 672 shares of the company's stock, valued at approximately $163,920.96. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Heico Trading Up 0.6%

Shares of NYSE:HEI traded up $1.98 during trading hours on Tuesday, hitting $313.34. 363,554 shares of the company's stock traded hands, compared to its average volume of 484,551. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. The firm has a market capitalization of $43.62 billion, a P/E ratio of 68.56, a price-to-earnings-growth ratio of 3.60 and a beta of 1.08. The business has a fifty day moving average price of $316.35 and a 200-day moving average price of $297.88. Heico Corporation has a 1 year low of $216.68 and a 1 year high of $338.92.

Heico (NYSE:HEI - Get Free Report) last issued its quarterly earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.14. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.11 billion. Heico had a return on equity of 16.29% and a net margin of 14.96%.The business's quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.97 earnings per share. Equities analysts expect that Heico Corporation will post 4.2 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HEI shares. Robert W. Baird boosted their price target on shares of Heico from $360.00 to $400.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Morgan Stanley increased their price objective on shares of Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 17th. Barclays raised their price objective on shares of Heico from $280.00 to $300.00 and gave the stock an "equal weight" rating in a report on Tuesday, September 2nd. Truist Financial lifted their price objective on shares of Heico from $352.00 to $366.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $382.00 target price (up from $337.00) on shares of Heico in a report on Wednesday, August 27th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $346.09.

Institutional Trading of Heico

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC boosted its position 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 purchasing an additional 46 shares during the period. Costello Asset Management INC bought a new stake in shares of Heico during the first quarter worth about $27,000. Caitong International Asset Management Co. Ltd boosted its holdings in Heico by 17,800.0% in the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company's stock valued at $48,000 after acquiring an additional 178 shares during the last quarter. Andra AP fonden acquired a new position in Heico in the second quarter valued at approximately $66,000. Finally, Banque Transatlantique SA raised its position in shares of Heico by 36.8% during the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company's stock worth $62,000 after purchasing an additional 68 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.