Heico (NYSE:HEI) Director Nandakumar Cheruvatath Buys 795 Shares of Company Stock

Heico Corporation (NYSE:HEI) Director Nandakumar Cheruvatath purchased 795 shares of Heico stock in a transaction dated Thursday, October 8th. The shares were bought at an average price of $220.30 per share, with a total value of $175,138.50. Following the completion of the acquisition, the director directly owned 4,877 shares of the company’s stock, valued at approximately $1,074,403.10. This represents a 19.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Heico Stock Performance

Shares of Heico stock opened at $297.21 on Wednesday. The stock has a market cap of $41.54 billion, a price-to-earnings ratio of 49.45, a PEG ratio of 2.49 and a beta of 1.09. The firm’s 50-day moving average is $326.78 and its 200 day moving average is $320.23. Heico Corporation has a 1 year low of $256.11 and a 1 year high of $376.86. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.72 and a quick ratio of 1.27.

Heico (NYSE:HEI) last announced its quarterly earnings data on Tuesday, August 25th. The aerospace company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.51 by $0.16. The company had revenue of $1.41 billion for the quarter, compared to the consensus estimate of $1.36 billion. Heico had a net margin of 16.38% and a return on equity of 18.00%. Heico’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 EPS. Sell-side analysts anticipate that Heico Corporation will post 6.28 EPS for the current fiscal year.

Key Headlines Impacting Heico

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

Hedge Funds Weigh In On Heico

A number of hedge funds have recently bought and sold shares of HEI. Diamant Asset Management Inc. lifted its stake in Heico by 25,698.9% during the 1st quarter. Diamant Asset Management Inc. now owns 763,647 shares of the aerospace company’s stock valued at $209,392,000 after acquiring an additional 760,687 shares during the period. Munro Partners boosted its holdings in shares of Heico by 44.2% during the 4th quarter. Munro Partners now owns 284,898 shares of the aerospace company’s stock valued at $92,190,000 after acquiring an additional 87,265 shares during the last quarter. Weitz Investment Management Inc. purchased a new stake in shares of Heico during the 2nd quarter valued at about $52,737,000. Bank of New York Mellon Corp bought a new stake in shares of Heico in the second quarter worth approximately $54,386,000. Finally, Freestone Grove Partners LP bought a new stake in shares of Heico in the second quarter worth approximately $50,276,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on HEI shares. Stifel Nicolaus set a $410.00 price target on shares of Heico in a report on Thursday, August 27th. Deutsche Bank Aktiengesellschaft set a $421.00 price target on shares of Heico and gave the company a “buy” rating in a research report on Wednesday, August 19th. Morgan Stanley set a $365.00 price objective on shares of Heico and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. Melius Research set a $350.00 price objective on Heico and gave the company a “hold” rating in a research report on Monday, September 14th. Finally, Weiss Ratings raised Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, July 16th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $387.00.

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.