Insider Buying: Heico (NYSE:HEI) Director Buys $175,138.50 in Stock

Key Points

• Director Thomas Culligan bought 795 Heico shares at an average price of $220.30, investing $175,138.50 and increasing his direct ownership by 7.21% to 11,825 shares.
• Heico’s latest quarterly results exceeded expectations, with EPS of $1.67 versus the $1.51 consensus estimate and revenue of $1.41 billion, up 23.1% year over year.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $387, while institutional investors own 27.12% of the company.

Heico Corporation (NYSE:HEI - Get Free Report) Director Thomas Culligan acquired 795 shares of the stock in a transaction dated Thursday, October 8th. The stock was acquired at an average cost of $220.30 per share, for a total transaction of $175,138.50. Following the purchase, the director directly owned 11,825 shares in the company, valued at approximately $2,605,047.50. The trade was a 7.21% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Heico Price Performance

HEI stock traded up $0.12 on Tuesday, hitting $297.21. 477,999 shares of the company's stock traded hands, compared to its average volume of 578,031. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 49.45, a P/E/G ratio of 2.51 and a beta of 1.09. Heico Corporation has a 1-year low of $256.11 and a 1-year high of $376.86. The company has a current ratio of 2.72, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The stock has a fifty day moving average of $328.21 and a 200-day moving average of $320.11.

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

Hedge Funds Weigh In On Heico

Several institutional investors and hedge funds have recently bought and sold shares of HEI. DSM Capital Partners LLC increased its holdings in shares of Heico by 5.4% in the 1st quarter. DSM Capital Partners LLC now owns 807 shares of the aerospace company's stock valued at $221,000 after purchasing an additional 41 shares during the period. Fortress Financial Solutions LLC boosted its holdings in shares of Heico by 2.8% during the first quarter. Fortress Financial Solutions LLC now owns 1,796 shares of the aerospace company's stock worth $493,000 after purchasing an additional 49 shares during the period. Bayban boosted its holdings in shares of Heico by 19.6% during the first quarter. Bayban now owns 330 shares of the aerospace company's stock worth $90,000 after purchasing an additional 54 shares during the period. Athena Wealth Management LLC grew its position in Heico by 5.8% during the third quarter. Athena Wealth Management LLC now owns 996 shares of the aerospace company's stock valued at $302,000 after purchasing an additional 55 shares in the last quarter. Finally, Mirador Capital Partners LP grew its position in Heico by 1.2% during the second quarter. Mirador Capital Partners LP now owns 5,742 shares of the aerospace company's stock valued at $2,045,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 27.12% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group restated a "buy" rating and issued a $491.00 target price on shares of Heico in a report on Monday, August 31st. Stifel Nicolaus set a $410.00 target price on Heico in a report on Thursday, August 27th. Jefferies Financial Group set a $430.00 price target on Heico and gave the company a "buy" rating in a research report on Wednesday, August 26th. Citigroup increased their price target on Heico from $429.00 to $441.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Finally, TD Cowen dropped their price target on Heico from $350.00 to $330.00 and set a "hold" rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Heico currently has a consensus rating of "Moderate Buy" and an average target price 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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