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

Key Points

• Heico director Alan Schriesheim purchased 795 shares at an average price of $220.30, investing $175,138.50 and increasing his ownership by 195.33% to 1,202 shares.
• Heico reported quarterly EPS of $1.67, beating estimates by $0.16, while revenue rose 23.1% year over year to $1.41 billion.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $387, despite mixed recent rating changes.

Heico Corporation (NYSE:HEI - Get Free Report) Director Alan Schriesheim purchased 795 shares of the company's stock in a transaction dated Thursday, October 8th. The stock was purchased at an average price of $220.30 per share, for a total transaction of $175,138.50. Following the completion of the purchase, the director owned 1,202 shares in the company, valued at approximately $264,800.60. The trade was a 195.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Heico Stock Performance

Shares of HEI traded up $0.12 during trading hours 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 debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27. Heico Corporation has a 12 month low of $256.11 and a 12 month high of $376.86. The firm has a market capitalization of $41.54 billion, a PE ratio of 49.45, a PEG ratio of 2.51 and a beta of 1.09. The stock has a fifty day moving average price of $328.21 and a 200 day moving average price of $320.11.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on HEI shares. Weiss Ratings raised shares of Heico from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, July 16th. Jefferies Financial Group set a $430.00 price objective on shares of Heico and gave the stock a "buy" rating in a report on Wednesday, August 26th. Wells Fargo & Company cut their target price on shares of Heico from $350.00 to $335.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 30th. Wall Street Zen cut shares of Heico from a "buy" rating to a "hold" rating in a report on Saturday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $421.00 price target on shares of Heico and gave the stock a "buy" rating in a research report on Wednesday, August 19th. Three research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $387.00.

Institutional Trading of Heico

A number of hedge funds and other institutional investors have recently bought and sold shares of HEI. Maridea Wealth Management LLC bought a new position in shares of Heico in the second quarter worth about $1,128,000. Silvant Capital Management LLC bought a new position in shares of Heico during the 2nd quarter valued at approximately $9,385,000. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of Heico during the 2nd quarter valued at approximately $1,262,000. Cypress Capital Management LLC WY bought a new position in shares of Heico during the 2nd quarter valued at approximately $1,315,000. Finally, Safeguard Investment Advisory Group LLC purchased a new stake in Heico in the 2nd quarter worth approximately $2,330,000. Hedge funds and other institutional investors own 27.12% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.