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

Heico (NYSE:HEI - Get Free Report) had its price objective raised by research analysts at Truist Financial from $323.00 to $352.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the aerospace company's stock. Truist Financial's target price points to a potential upside of 9.38% from the stock's previous close.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus set a $352.00 price target on shares of Heico and gave the stock a "buy" rating in a research report on Tuesday, June 24th. Wells Fargo & Company raised their price objective on shares of Heico from $244.00 to $278.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Barclays set a $280.00 target price on shares of Heico and gave the company an "equal weight" rating in a research note on Monday, June 2nd. UBS Group lifted their price target on Heico from $264.00 to $306.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Finally, Wall Street Zen raised Heico from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Heico presently has a consensus rating of "Moderate Buy" and an average target price of $299.18.

Heico Stock Up 2.2%

Shares of HEI stock traded up $7.00 on Friday, hitting $321.81. The stock had a trading volume of 460,402 shares, compared to its average volume of 483,397. The stock's 50 day moving average is $297.26 and its 200-day moving average is $262.91. The firm has a market capitalization of $44.76 billion, a price-to-earnings ratio of 75.19, a P/E/G ratio of 3.92 and a beta of 1.08. Heico has a 52-week low of $216.68 and a 52-week high of $328.64. 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 posted its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.09. Heico had a net margin of 14.54% and a return on equity of 15.88%. The company had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the prior year, the company posted $0.88 EPS. The firm's revenue for the quarter was up 14.9% on a year-over-year basis. As a group, research analysts expect that Heico will post 4.2 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Frank J. Schwitter sold 356 shares of the company'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 completion of the transaction, the director owned 1,500 shares in the company, valued at approximately $448,650. This represents a 19.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Schriesheim sold 35,000 shares of Heico stock in a transaction dated Tuesday, June 3rd. The shares were 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 in the company, valued at approximately $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 86,056 shares of company stock valued at $22,699,941 over the last three months. Company insiders own 9.55% of the company's stock.

Hedge Funds Weigh In On Heico

Several hedge funds and other institutional investors have recently made changes to their positions in HEI. Ridgewood Investments LLC increased its stake in shares of 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 acquiring an additional 46 shares during the period. NBC Securities Inc. purchased a new stake in Heico in the 1st quarter worth about $27,000. Costello Asset Management INC acquired a new stake in shares of Heico during the first quarter worth approximately $27,000. Banque Transatlantique SA purchased a new position in shares of Heico during the 4th quarter valued at $44,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Heico by 17,800.0% in 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 and hedge funds.

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.