HEICO (NYSE:HEI) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

HEICO (NYSE:HEI – Get Rating) issued its quarterly earnings results on Tuesday. The aerospace company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04, MarketWatch Earnings reports. The firm had revenue of $687.84 million during the quarter, compared to analysts’ expectations of $654.32 million. HEICO had a net margin of 15.19% and a return on equity of 14.38%. During the same quarter in the prior year, the business earned $0.62 EPS.

HEICO Stock Down 1.0 %

Shares of HEI stock opened at $163.26 on Thursday. The stock has a market cap of $22.35 billion, a P/E ratio of 59.80, a price-to-earnings-growth ratio of 4.06 and a beta of 1.18. The stock has a fifty day moving average price of $169.59 and a 200 day moving average price of $165.93. HEICO has a one year low of $126.95 and a one year high of $180.59. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.91 and a quick ratio of 1.37.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HEI. StockNews.com began coverage on shares of HEICO in a report on Thursday, May 18th. They issued a “hold” rating for the company. Morgan Stanley raised their target price on shares of HEICO from $172.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Truist Financial lifted their price target on shares of HEICO from $169.00 to $190.00 in a research report on Wednesday, March 1st. Bank of America lifted their price target on shares of HEICO from $162.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, April 3rd. Finally, Jefferies Financial Group lifted their price objective on shares of HEICO from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.00.

Insider Buying and Selling at HEICO

In related news, Director Alan Schriesheim sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $166.79, for a total transaction of $3,335,800.00. Following the completion of the sale, the director now directly owns 114,261 shares of the company’s stock, valued at $19,057,592.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Julie Neitzel sold 250 shares of the firm’s stock in a transaction dated Wednesday, April 12th. The shares were sold at an average price of $133.61, for a total transaction of $33,402.50. Following the transaction, the director now directly owns 155 shares of the company’s stock, valued at $20,709.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Alan Schriesheim sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, April 5th. The stock was sold at an average price of $166.79, for a total transaction of $3,335,800.00. Following the transaction, the director now directly owns 114,261 shares in the company, valued at $19,057,592.19. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,850 shares of company stock valued at $3,452,393. 8.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On HEICO

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. raised its holdings in HEICO by 0.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 125,828 shares of the aerospace company’s stock worth $21,520,000 after purchasing an additional 1,018 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of HEICO during the first quarter valued at approximately $109,000. Select Equity Group L.P. purchased a new stake in HEICO in the first quarter worth $85,710,000. Balyasny Asset Management L.P. raised its holdings in HEICO by 336.7% in the first quarter. Balyasny Asset Management L.P. now owns 348,363 shares of the aerospace company’s stock worth $59,584,000 after purchasing an additional 268,584 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new position in shares of HEICO during the first quarter valued at $1,584,000. 27.08% of the stock is owned by institutional investors.

HEICO Company Profile

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HEICO Corp. engages in the manufacturing of electronic equipment for the aviation, defense, space, medical, telecommunications, and electronics industries. It operates through the Flight Support Group and Electronic Technologies Group segments. The Flight Support Group segment designs, manufactures, repairs, overhauls, and distributes jet engine and aircraft component replacement parts.