HEICO (NYSE:HEI) Releases Quarterly Earnings Results

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

HEICO Stock Down 1.0 %

Shares of HEI stock opened at $163.26 on Thursday. The stock’s 50 day simple moving average is $169.59 and its 200 day simple moving average is $165.93. HEICO has a twelve month low of $126.95 and a twelve month high of $180.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.37 and a current ratio of 2.91. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 59.80, a PEG ratio of 4.06 and a beta of 1.18.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HEI. Truist Financial increased their price target on HEICO from $169.00 to $190.00 in a research report on Wednesday, March 1st. Jefferies Financial Group boosted their price target on shares of HEICO from $180.00 to $205.00 and gave the company a “buy” rating in a report on Monday, February 27th. Royal Bank of Canada raised their price objective on shares of HEICO from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. StockNews.com assumed coverage on shares of HEICO in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Morgan Stanley raised their target price on HEICO from $172.00 to $184.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 1st. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.00.

Insider Buying and Selling at HEICO

In related news, Director Frank J. Schwitter sold 600 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $138.65, for a total value of $83,190.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Frank J. Schwitter sold 600 shares of the company’s stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $138.65, for a total transaction of $83,190.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie Neitzel sold 250 shares of the firm’s stock in a transaction on Wednesday, April 12th. The stock was sold at an average price of $133.61, for a total transaction of $33,402.50. Following the completion of the sale, the director now owns 155 shares in the company, valued at approximately $20,709.55. The disclosure for this sale can be found here. Insiders have sold a total of 20,850 shares of company stock worth $3,452,393 over the last 90 days. Insiders own 8.26% of the company’s stock.

Institutional Trading of HEICO

Several institutional investors have recently modified their holdings of HEI. Sunbelt Securities Inc. bought a new position in HEICO in the first quarter worth $109,000. Bridgefront Capital LLC acquired a new stake in shares of HEICO during the 1st quarter valued at about $265,000. Centiva Capital LP bought a new stake in HEICO in the fourth quarter valued at about $283,000. Walleye Capital LLC bought a new position in HEICO during the second quarter worth about $301,000. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in HEICO by 15.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,795 shares of the aerospace company’s stock valued at $307,000 after purchasing an additional 237 shares in the last quarter. Institutional investors and hedge funds own 27.08% of the company’s stock.

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.