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

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

Several other research firms have also weighed in on HEI. Wells Fargo & Company boosted their price objective on shares of HEICO from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. Truist Financial reduced their target price on HEICO from $294.00 to $277.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays set a $280.00 price target on HEICO and gave the company an "equal weight" rating in a research note on Monday, June 2nd. William Blair reaffirmed an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Finally, UBS Group upped their price objective on shares of HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $279.45.

HEICO Trading Up 0.8%

Shares of HEICO stock traded up $2.50 on Wednesday, hitting $303.64. 391,135 shares of the company's stock traded hands, compared to its average volume of 476,451. HEICO has a one year low of $216.68 and a one year high of $304.80. The firm's 50-day moving average price is $264.05 and its two-hundred day moving average price is $253.23. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.11 and a quick ratio of 1.34. The stock has a market capitalization of $42.19 billion, a PE ratio of 82.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.07.

HEICO (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.09. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter in the prior year, the company earned $0.88 earnings per share. The business's quarterly revenue was up 14.9% compared to the same quarter last year. On average, research analysts expect that HEICO will post 4.2 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Alan Schriesheim sold 35,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total value of $10,442,600.00. Following the completion of the transaction, the director now owns 122,197 shares of the company's stock, valued at $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Julie Neitzel sold 700 shares of HEICO stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total transaction of $172,361.00. Following the sale, the director now owns 418 shares in the company, valued at approximately $102,924.14. This represents a 62.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 86,056 shares of company stock worth $22,699,941 in the last three months. 9.55% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On HEICO

Several large investors have recently modified their holdings of the business. Wealthfront Advisers LLC lifted its holdings in HEICO by 219,129.4% during the 4th quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company's stock worth $5,285,970,000 after buying an additional 22,224,106 shares during the period. Bain Capital Public Equity Management II LLC bought a new position in shares of HEICO during the fourth quarter worth about $110,503,000. Freestone Grove Partners LP bought a new position in shares of HEICO during the fourth quarter worth about $71,030,000. Mackenzie Financial Corp acquired a new position in shares of HEICO in the first quarter worth approximately $40,949,000. Finally, Squarepoint Ops LLC boosted its holdings in HEICO by 2,203.0% in the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company's stock valued at $20,691,000 after acquiring an additional 83,251 shares during the last quarter. Institutional investors 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.