Heico (NYSE:HEI) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

by · The Markets Daily

Heico (NYSE:HEI – Get Free Report) announced its quarterly earnings results on Thursday. The aerospace company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.13, Zacks reports. Heico had a net margin of 14.96% and a return on equity of 16.29%.

Heico Stock Up 0.6%

Shares of NYSE:HEI traded up $1.93 during midday trading on Thursday, reaching $308.82. The company had a trading volume of 602,090 shares, compared to its average volume of 459,925. The stock has a market capitalization of $42.99 billion, a P/E ratio of 67.58, a PEG ratio of 3.05 and a beta of 1.04. The stock’s fifty day moving average price is $313.26 and its 200-day moving average price is $315.31. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.35 and a quick ratio of 1.51. Heico has a one year low of $216.68 and a one year high of $338.92.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Truist Financial upped their target price on Heico from $352.00 to $366.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. BNP Paribas set a $330.00 price target on Heico in a report on Tuesday, November 18th. UBS Group boosted their target price on shares of Heico from $346.00 to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 27th. Citigroup started coverage on shares of Heico in a report on Thursday, December 11th. They set a “buy” rating and a $367.00 price target for the company. Finally, Barclays lifted their price target on shares of Heico from $280.00 to $300.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 2nd. Eleven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $345.29.

Read Our Latest Stock Analysis on HEI

Insider Activity at Heico

In other news, Director Adolfo Henriques purchased 676 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, for a total transaction of $164,896.68. Following the completion of the purchase, the director owned 24,069 shares of the company’s stock, valued at approximately $5,871,151.17. This trade represents a 2.89% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Culligan acquired 676 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was purchased at an average cost of $243.93 per share, with a total value of $164,896.68. Following the completion of the acquisition, the director owned 11,030 shares of the company’s stock, valued at $2,690,547.90. The trade was a 6.53% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 4,448 shares of company stock worth $1,086,933 over the last 90 days. Company insiders own 9.55% of the company’s stock.

Institutional Investors Weigh In On Heico

Institutional investors have recently made changes to their positions in the company. IHT Wealth Management LLC raised its position in shares of Heico by 2.1% during the 2nd quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after acquiring an additional 117 shares in the last quarter. Regal Investment Advisors LLC increased its stake in Heico by 7.5% during the third quarter. Regal Investment Advisors LLC now owns 3,186 shares of the aerospace company’s stock valued at $1,029,000 after purchasing an additional 222 shares during the last quarter. Verity Asset Management Inc. raised its holdings in shares of Heico by 3.3% during the third quarter. Verity Asset Management Inc. now owns 7,139 shares of the aerospace company’s stock worth $2,305,000 after purchasing an additional 225 shares during the period. Entropy Technologies LP boosted its holdings in shares of Heico by 12.3% in the 3rd quarter. Entropy Technologies LP now owns 2,275 shares of the aerospace company’s stock valued at $734,000 after buying an additional 249 shares during the period. Finally, Evergreen Capital Management LLC grew its position in shares of Heico by 30.5% during the 2nd quarter. Evergreen Capital Management LLC now owns 1,121 shares of the aerospace company’s stock valued at $368,000 after buying an additional 262 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

About Heico

(Get Free Report)

HEICO Corporation, through its subsidiaries, designs, manufactures, and sells aerospace, defense, and electronic related products and services in the United States and internationally. Its Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components.

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