HEICO (NYSE:HEI) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

HEICO (NYSE:HEI) issued its quarterly earnings data on Tuesday. The aerospace company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.09, Zacks reports. HEICO had a return on equity of 14.63% and a net margin of 13.33%.

HEICO Stock Up 2.2%

Shares of HEICO stock traded up $5.93 on Tuesday, reaching $273.98. 776,624 shares of the company were exchanged, compared to its average volume of 549,263. HEICO has a one year low of $211.92 and a one year high of $283.60. The company has a market capitalization of $38.07 billion, a price-to-earnings ratio of 74.86, a PEG ratio of 3.10 and a beta of 1.05. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average of $258.66 and a 200 day moving average of $251.48.

Insider Transactions at HEICO

In other news, Director Alan Schriesheim sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was sold at an average price of $239.57, for a total transaction of $11,978,500.00. Following the sale, the director now owns 157,197 shares in the company, valued at $37,659,685.29. This represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Julie Neitzel sold 700 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $246.23, for a total value of $172,361.00. Following the sale, the director now owns 418 shares in the company, valued at approximately $102,924.14. This represents a 62.61% decrease in their position. The disclosure for this sale can be found here. Company insiders own 9.55% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in HEICO stock. Acadian Asset Management LLC increased its holdings in shares of HEICO Co. (NYSE:HEI) by 216.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,381 shares of the aerospace company’s stock after acquiring an additional 945 shares during the quarter. Acadian Asset Management LLC’s holdings in HEICO were worth $368,000 as of its most recent SEC filing. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HEI. Truist Financial decreased their price objective on HEICO from $294.00 to $277.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. William Blair reiterated an “outperform” rating on shares of HEICO in a research report on Tuesday, March 25th. Finally, Wells Fargo & Company initiated coverage on HEICO in a research note on Tuesday, April 15th. They issued an “equal weight” rating and a $244.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $267.36.

HEICO Company Profile

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.