Heico (NYSE:HEI) Director Mark Hildebrandt Purchases 795 Shares of Company Stock

Heico Corporation (NYSE:HEI) Director Mark Hildebrandt bought 795 shares of the firm’s stock in a transaction on Thursday, October 8th. The stock was acquired 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 directly owned 50,218 shares in the company, valued at approximately $11,063,025.40. The trade was a 1.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Heico Stock Performance

NYSE:HEI opened at $297.21 on Wednesday. The business’s 50-day moving average price is $326.78 and its two-hundred day moving average price is $320.23. 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 P/E ratio of 49.45, a PEG ratio of 2.49 and a beta of 1.09. Heico Corporation has a twelve month low of $256.11 and a twelve month high of $376.86.

Heico (NYSE:HEI) last issued its quarterly earnings results 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 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 analysts’ expectations of $1.36 billion. During the same period last year, the business earned $1.26 earnings per share. The business’s quarterly revenue was up 23.1% on a year-over-year basis. As a group, equities analysts predict that Heico Corporation will post 6.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HEI. Wall Street Zen lowered Heico from a “buy” rating to a “hold” rating in a research note on Saturday, October 3rd. Wells Fargo & Company reduced their price objective on shares of Heico from $350.00 to $335.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 30th. TD Cowen dropped their target price on shares of Heico from $350.00 to $330.00 and set a “hold” rating for the company in a research report on Friday, October 9th. Melius Research set a $350.00 target price on shares of Heico and gave the company a “hold” rating in a research note on Monday, September 14th. Finally, Guggenheim began coverage on shares of Heico in a research report on Monday, September 14th. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Heico presently has a consensus rating of “Moderate Buy” and an average target price of $387.00.

More Heico News

Here are the key news stories impacting Heico this week:

• Positive Sentiment: Seven Heico directors reported open-market purchases made on October 8. Six directors each bought 795 shares at approximately $220.30 per share, while Julie Neitzel purchased 592 shares at $294.93. Collectively, the purchases represented roughly $1.23 million of insider buying and increased each director’s existing stake, a signal that board members may view the recent share-price weakness as an attractive entry point. SEC insider transaction filings
• Positive Sentiment: Co-CEOs and Co-Chairmen Eric Mendelson and Victor received the Wright Brothers Memorial Award, providing favorable recognition of Heico’s leadership and aerospace-industry contributions. The award is primarily reputational and does not immediately change the company’s financial outlook. Wright Brothers Memorial Award article

Institutional Investors Weigh In On Heico

Hedge funds have recently made changes to their positions in the company. Maridea Wealth Management LLC bought a new position in Heico in the second quarter worth $1,128,000. Silvant Capital Management LLC bought a new stake in shares of Heico during the 2nd quarter valued at $9,385,000. SBI Okasan Asset Management Co.Ltd. bought a new stake in shares of Heico during the 2nd quarter valued at $1,262,000. Cypress Capital Management LLC WY purchased a new stake in shares of Heico in the 2nd quarter worth about $1,315,000. Finally, Safeguard Investment Advisory Group LLC purchased a new stake in shares of Heico in the 2nd quarter worth about $2,330,000. 27.12% of the stock is currently owned by institutional investors.

About Heico

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.