HEICO (NYSE:HEI) Releases Earnings Results, Beats Estimates By $0.09 EPS

HEICO (NYSE:HEI - Get Free Report) announced its quarterly earnings data on Tuesday. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.03 by $0.09, Zacks reports. HEICO had a net margin of 13.33% and a return on equity of 14.63%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. HEICO's quarterly revenue was up 14.9% on a year-over-year basis.

HEICO Stock Down 1.0%

Shares of HEI traded down $3.04 during mid-day trading on Friday, hitting $297.13. 212,721 shares of the company's stock were exchanged, compared to its average volume of 476,363. The company has a market cap of $41.29 billion, a price-to-earnings ratio of 81.17, a P/E/G ratio of 3.10 and a beta of 1.05. HEICO has a fifty-two week low of $212.37 and a fifty-two week high of $306.09. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11. The stock's 50-day moving average is $260.22 and its 200-day moving average is $252.18.

Insider Buying and Selling

In related news, Director Julie Neitzel sold 700 shares of the company's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total transaction of $172,361.00. Following the sale, the director now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan Schriesheim sold 50,000 shares of the firm'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 directly owns 157,197 shares in the company, valued at approximately $37,659,685.29. The trade was a 24.13% decrease in their position. The disclosure for this sale can be found here. Insiders own 9.55% of the company's stock.

Institutional Trading of HEICO

A hedge fund recently raised its stake in HEICO stock. Acadian Asset Management LLC grew its stake in shares of HEICO Co. (NYSE:HEI - Free Report) by 216.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,381 shares of the aerospace company's stock after purchasing an additional 945 shares during the quarter. Acadian Asset Management LLC's holdings in HEICO were worth $368,000 as of its most recent filing with the Securities and Exchange Commission. 27.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the stock. William Blair reaffirmed an "outperform" rating on shares of HEICO in a research report on Tuesday, March 25th. Wells Fargo & Company upped their target price on shares of HEICO from $244.00 to $278.00 and gave the company an "equal weight" rating in a research report on Friday. UBS Group upped their target price on shares of HEICO from $264.00 to $306.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Truist Financial decreased their target price on shares of HEICO from $294.00 to $277.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $273.09.

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.