Insider Selling: HEICO Co. (NYSE:HEI) Director Sells $106,479.60 in Stock

HEICO Co. (NYSE:HEI) Director Frank J. Schwitter sold 356 shares of HEICO stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the sale, the director now directly owns 1,500 shares in the company, valued at approximately $448,650. This trade represents a 19.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

HEICO Trading Up 0.8%

Shares of HEICO stock opened at $303.64 on Friday. The firm has a market capitalization of $42.19 billion, a price-to-earnings ratio of 82.96, a PEG ratio of 3.10 and a beta of 1.07. HEICO Co. has a fifty-two week low of $216.68 and a fifty-two week high of $304.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11. The stock has a 50 day moving average of $264.05 and a 200 day moving average of $253.23.

HEICO (NYSE:HEI) last issued its quarterly earnings data on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, research analysts predict that HEICO Co. will post 4.2 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Fortress Financial Solutions LLC purchased a new position in HEICO in the fourth quarter worth approximately $263,000. EntryPoint Capital LLC purchased a new position in shares of HEICO during the fourth quarter worth $220,000. Fisher Asset Management LLC boosted its position in shares of HEICO by 19.1% during the fourth quarter. Fisher Asset Management LLC now owns 415,542 shares of the aerospace company’s stock worth $98,791,000 after buying an additional 66,583 shares during the period. E Fund Management Co. Ltd. purchased a new position in shares of HEICO during the fourth quarter worth $428,000. Finally, EULAV Asset Management boosted its position in shares of HEICO by 12.8% during the fourth quarter. EULAV Asset Management now owns 453,693 shares of the aerospace company’s stock worth $107,861,000 after buying an additional 51,500 shares during the period. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HEI has been the topic of several recent research reports. William Blair reaffirmed an “outperform” rating on shares of HEICO in a research note on Tuesday, March 25th. Wells Fargo & Company lifted their target price on shares of HEICO from $244.00 to $278.00 and gave the stock an “equal weight” rating in a research note on Friday, May 30th. Morgan Stanley lifted their target price on shares of HEICO from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Wednesday. UBS Group upped their price target on HEICO from $264.00 to $306.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, Barclays set a $280.00 price target on HEICO and gave the company an “equal weight” rating in a research report on Monday, June 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $279.45.

About HEICO

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.