Heico (NYSE:HEI) Director Julie Neitzel Acquires 592 Shares of Stock

Key Points

• Heico Director Julie Neitzel purchased 592 shares at an average price of $294.93, investing approximately $174,599 and increasing her ownership by 141.63% to 1,010 shares.
• Heico’s latest quarterly results exceeded expectations, with EPS of $1.67 versus the $1.51 consensus and revenue of $1.41 billion, up 23.1% year over year.
• The stock traded near $297.21, while analysts maintained a “Moderate Buy” consensus and an average price target of $387; institutional investors own 27.12% of outstanding shares.

Heico Corporation (NYSE:HEI - Get Free Report) Director Julie Neitzel purchased 592 shares of Heico stock in a transaction dated Thursday, October 8th. The shares were bought at an average price of $294.93 per share, for a total transaction of $174,598.56. Following the acquisition, the director owned 1,010 shares in the company, valued at approximately $297,879.30. This trade represents a 141.63% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Heico Trading Up 0.0%

NYSE:HEI traded up $0.12 on Tuesday, hitting $297.21. The stock had a trading volume of 477,999 shares, compared to its average volume of 578,031. The company has a fifty day moving average price of $328.21 and a two-hundred day moving average price of $320.11. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a quick ratio of 1.27, a current ratio of 2.72 and a debt-to-equity ratio of 0.51. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 2.51 and a beta of 1.09.

Heico (NYSE:HEI - Get Free Report) last released its quarterly earnings results on Tuesday, August 25th. The aerospace company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.16. Heico had a net margin of 16.38% and a return on equity of 18.00%. The business had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same period in the previous year, the firm earned $1.26 EPS. The business's revenue was up 23.1% on a year-over-year basis. Equities research analysts expect that Heico Corporation will post 6.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Heico

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diamant Asset Management Inc. increased its holdings in shares of Heico by 25,698.9% in the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company's stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Munro Partners raised its position in Heico by 44.2% in the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company's stock valued at $92,190,000 after purchasing an additional 87,265 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in Heico during the 2nd quarter worth $54,386,000. Weitz Investment Management Inc. acquired a new stake in Heico during the 2nd quarter worth $52,737,000. Finally, Freestone Grove Partners LP purchased a new position in Heico during the 2nd quarter worth $50,276,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on HEI shares. Jefferies Financial Group set a $430.00 price target on shares of Heico and gave the stock a "buy" rating in a research note on Wednesday, August 26th. Stifel Nicolaus set a $410.00 target price on Heico in a research note on Thursday, August 27th. Guggenheim initiated coverage on Heico in a report on Monday, September 14th. They issued a "neutral" rating for the company. Wells Fargo & Company dropped their price target on shares of Heico from $350.00 to $335.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 30th. Finally, UBS Group restated a "neutral" rating and issued a $396.00 target price (up from $382.00) on shares of Heico in a report on Thursday, August 27th. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $387.00.

Heico Company Profile

HEICO Corporation is an aerospace, defense, and electronics company that designs, manufactures, and distributes specialized products for commercial aviation, defense, space, medical, telecommunications, and other industrial markets. Founded in 1957, the company is headquartered in Hollywood, Florida, and serves customers worldwide, including airlines, original equipment manufacturers, government agencies, and defense contractors.

HEICO operates through two primary segments. Its Flight Support Group produces FAA-approved replacement parts for jet engines and aircraft components, as well as provides aircraft and engine component repair, overhaul, and maintenance services.

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