Insider Buying: Heico (NYSE:HEI) Director Acquires $164,896.68 in Stock

Key Points

• Heico Corporation's Director Thomas Culligan purchased 676 shares for a total of approximately $164,896.68, increasing his ownership by 6.53% to 11,030 shares valued at nearly $2.69 million.
• Heico's stock performance showed a recent trading price of $313.34, with a market cap of $43.62 billion and a strong 12-month trading range between $216.68 and $338.92.
• Analysts have set target prices for Heico ranging from $300 to $382, with a consensus rating of "Moderate Buy" based on 10 buy ratings and 6 hold ratings.

Heico Corporation (NYSE:HEI - Get Free Report) Director Thomas Culligan acquired 676 shares of the company's stock in a transaction dated Friday, October 10th. The shares were bought at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the acquisition, the director directly owned 11,030 shares of the company's stock, valued at approximately $2,690,547.90. The trade was a 6.53% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heico Stock Performance

Shares of NYSE HEI traded up $1.98 during trading on Tuesday, reaching $313.34. 363,554 shares of the company traded hands, compared to its average volume of 484,551. The firm's fifty day simple moving average is $316.35 and its 200 day simple moving average is $297.88. The stock has a market cap of $43.62 billion, a P/E ratio of 68.56, a PEG ratio of 3.60 and a beta of 1.08. Heico Corporation has a 12-month low of $216.68 and a 12-month high of $338.92. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58.

Heico (NYSE:HEI - Get Free Report) last posted its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 EPS for the quarter, topping the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.29% and a net margin of 14.96%.The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.97 EPS. Heico's quarterly revenue was up 15.7% on a year-over-year basis. As a group, research analysts anticipate that Heico Corporation will post 4.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a "buy" rating and set a $382.00 target price (up previously from $337.00) on shares of Heico in a research note on Wednesday, August 27th. Barclays boosted their price target on Heico from $280.00 to $300.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 2nd. Morgan Stanley raised their price objective on shares of Heico from $305.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 17th. Stifel Nicolaus set a $360.00 price objective on shares of Heico in a research note on Tuesday, August 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Heico in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $346.09.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently modified their holdings of the business. Embree Financial Group grew its position in Heico by 1.9% in the 3rd quarter. Embree Financial Group now owns 4,103 shares of the aerospace company's stock worth $1,324,000 after purchasing an additional 77 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Heico during the third quarter valued at approximately $5,974,000. Union Bancaire Privee UBP SA lifted its stake in Heico by 13.1% during the third quarter. Union Bancaire Privee UBP SA now owns 4,222 shares of the aerospace company's stock valued at $1,363,000 after purchasing an additional 489 shares during the last quarter. Mirador Capital Partners LP lifted its stake in Heico by 11.5% during the third quarter. Mirador Capital Partners LP now owns 5,052 shares of the aerospace company's stock valued at $1,631,000 after purchasing an additional 523 shares during the last quarter. Finally, New England Research & Management Inc. purchased a new stake in shares of Heico in the 3rd quarter valued at approximately $395,000. Institutional investors own 27.12% of the company's stock.

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.

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