HEICO (NYSE:HEI) Price Target Raised to $305.00 at Morgan Stanley

HEICO (NYSE:HEI - Free Report) had its price target lifted by Morgan Stanley from $270.00 to $305.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the aerospace company's stock.

Other equities analysts have also recently issued research reports about the stock. Truist Financial cut their target price on shares of HEICO from $294.00 to $277.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. Barclays upped their price target on shares of HEICO from $250.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Monday. William Blair reissued an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Wells Fargo & Company increased their price objective on shares of HEICO from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research report on Friday, May 30th. Finally, UBS Group raised their price objective on HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, HEICO has a consensus rating of "Moderate Buy" and an average target price of $279.45.

HEICO Stock Performance

Shares of NYSE:HEI traded up $1.04 during midday trading on Wednesday, hitting $301.09. The stock had a trading volume of 334,512 shares, compared to its average volume of 475,395. The company has a market capitalization of $41.84 billion, a PE ratio of 82.26, a P/E/G ratio of 3.10 and a beta of 1.07. The stock has a 50 day moving average price of $262.70 and a two-hundred day moving average price of $252.97. 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 has a 1 year low of $216.68 and a 1 year high of $303.32.

HEICO (NYSE:HEI - Get Free Report) last released its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.09. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The firm's revenue was up 14.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. As a group, equities analysts predict that HEICO will post 4.2 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Alan Schriesheim sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the sale, the director now owns 157,197 shares of the company's stock, valued at $37,659,685.29. The trade was a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Frank J. Schwitter sold 356 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total transaction of $106,479.60. Following the transaction, the director now owns 1,500 shares of the company's stock, valued at approximately $448,650. This trade represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,056 shares of company stock valued at $22,699,941. 9.55% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HEICO

A number of large investors have recently made changes to their positions in HEI. Ridgewood Investments LLC grew its holdings in shares of HEICO by 92.0% during the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after acquiring an additional 46 shares in the last quarter. Costello Asset Management INC purchased a new position in HEICO in the first quarter valued at about $27,000. NBC Securities Inc. purchased a new position in HEICO in the first quarter valued at about $27,000. Compass Financial Services Inc acquired a new position in HEICO in the 4th quarter worth about $26,000. Finally, Caitong International Asset Management Co. Ltd raised its stake 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. Institutional investors and hedge funds own 27.12% of the company's stock.

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.