HEICO (NYSE:HEI) PT Raised to $285.00

HEICO (NYSE:HEI) had its target price lifted by Bank of America from $250.00 to $285.00 in a research report report published on Thursday, Benzinga reports. The firm currently has a buy rating on the aerospace company’s stock.

HEI has been the topic of a number of other research reports. Royal Bank of Canada upped their price target on shares of HEICO from $250.00 to $272.00 and gave the company an outperform rating in a research note on Wednesday, August 28th. Robert W. Baird upped their price target on shares of HEICO from $243.00 to $280.00 and gave the company an outperform rating in a research note on Wednesday, August 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of HEICO from $235.00 to $271.00 and gave the company a buy rating in a research note on Wednesday, September 4th. Truist Financial upped their price target on shares of HEICO from $248.00 to $264.00 and gave the company a buy rating in a research note on Wednesday, August 28th. Finally, Stifel Nicolaus upped their price target on shares of HEICO from $250.00 to $280.00 and gave the company a buy rating in a research note on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $263.56.

HEICO Price Performance

Shares of NYSE:HEI opened at $265.81 on Thursday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30. The firm has a fifty day moving average price of $242.58 and a 200 day moving average price of $220.57. HEICO has a fifty-two week low of $155.42 and a fifty-two week high of $265.98. The firm has a market cap of $36.81 billion, a price-to-earnings ratio of 83.59, a P/E/G ratio of 3.61 and a beta of 1.22.

HEICO (NYSE:HEI) last issued its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm had revenue of $992.20 million during the quarter, compared to analyst estimates of $995.34 million. During the same quarter in the prior year, the business earned $0.77 earnings per share. HEICO’s revenue for the quarter was up 37.3% on a year-over-year basis. As a group, sell-side analysts expect that HEICO will post 3.63 earnings per share for the current fiscal year.

Insider Transactions at HEICO

In related news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Frank J. Schwitter purchased 475 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the acquisition, the director now owns 1,730 shares in the company, valued at approximately $436,409.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric A. Mendelson sold 20,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $186.09, for a total transaction of $3,721,800.00. Following the completion of the transaction, the insider now owns 148,891 shares in the company, valued at $27,707,126.19. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,206 shares of company stock worth $15,571,927. Insiders own 8.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HEI. Avantax Advisory Services Inc. bought a new position in HEICO during the 4th quarter worth about $228,000. TrinityPoint Wealth LLC bought a new position in HEICO during the 4th quarter worth about $213,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in HEICO by 24.0% during the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 2,413 shares of the aerospace company’s stock worth $432,000 after acquiring an additional 467 shares in the last quarter. Assetmark Inc. grew its holdings in HEICO by 6.7% during the 4th quarter. Assetmark Inc. now owns 4,070 shares of the aerospace company’s stock worth $728,000 after acquiring an additional 256 shares in the last quarter. Finally, TCW Group Inc. grew its holdings in HEICO by 10.6% during the 4th quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock worth $31,499,000 after acquiring an additional 16,878 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.

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.