Heico (NYSE:HEI) Price Target Raised to $352.00 at Truist Financial

Heico (NYSE:HEI - Get Free Report) had its target price lifted by Truist Financial from $323.00 to $352.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the aerospace company's stock. Truist Financial's price objective would indicate a potential upside of 11.87% from the stock's previous close.

Several other equities research analysts have also weighed in on the company. Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Stifel Nicolaus set a $352.00 price objective on Heico and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Wells Fargo & Company raised their price objective on Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a research note on Friday, May 30th. UBS Group raised their price objective on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, Morgan Stanley raised their price objective on Heico from $270.00 to $305.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 4th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $299.18.

Heico Price Performance

Shares of HEI stock traded up $3.07 during mid-day trading on Friday, hitting $314.66. 418,376 shares of the stock traded hands, compared to its average volume of 482,756. Heico has a twelve month low of $216.68 and a twelve month high of $328.64. The firm has a market cap of $43.77 billion, a price-to-earnings ratio of 73.52, a price-to-earnings-growth ratio of 3.91 and a beta of 1.08. The company's 50-day simple moving average is $297.26 and its 200-day simple moving average is $262.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43.

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. Heico had a return on equity of 15.88% and a net margin of 14.54%. The company had revenue of $1.10 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period last year, the firm earned $0.88 EPS. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities research analysts expect that Heico will post 4.2 earnings per share for the current year.

Insider Activity at Heico

In related news, Director Alan Schriesheim sold 35,000 shares of Heico stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the sale, the director owned 122,197 shares of the company's stock, valued at approximately $36,458,696.92. This trade represents a 22.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $106,479.60. Following the transaction, the director owned 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,056 shares of company stock valued at $22,699,941. Insiders own 9.55% of the company's stock.

Hedge Funds Weigh In On Heico

Institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC raised its holdings in Heico by 92.0% during the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company's stock valued at $26,000 after buying an additional 46 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Heico during the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new position in shares of Heico during the 1st quarter worth about $27,000. Banque Transatlantique SA acquired a new position in shares of Heico during the 4th quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd lifted 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 during the last quarter. 27.12% of the stock is currently owned by institutional investors.

About Heico

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.