HEICO (NYSE:HEI) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

HEICO (NYSE:HEI – Get Rating) released its quarterly earnings data on Tuesday. The aerospace company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04, MarketWatch Earnings reports. The company had revenue of $687.84 million during the quarter, compared to analyst estimates of $654.32 million. HEICO had a net margin of 15.19% and a return on equity of 14.38%. During the same quarter in the previous year, the business posted $0.62 EPS.

HEICO Stock Down 1.0 %

HEI stock opened at $163.26 on Thursday. The company has a current ratio of 2.91, a quick ratio of 1.37 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $169.59 and its 200 day moving average is $165.93. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 59.80, a price-to-earnings-growth ratio of 4.06 and a beta of 1.18. HEICO has a 1-year low of $126.95 and a 1-year high of $180.59.

Insider Buying and Selling

In related news, Director Alan Schriesheim sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $166.79, for a total value of $3,335,800.00. Following the transaction, the director now directly owns 114,261 shares in the company, valued at $19,057,592.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other HEICO news, Director Alan Schriesheim sold 20,000 shares of the stock in a transaction that occurred on Wednesday, April 5th. The shares were sold at an average price of $166.79, for a total transaction of $3,335,800.00. Following the transaction, the director now directly owns 114,261 shares in the company, valued at $19,057,592.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Julie Neitzel sold 250 shares of the stock in a transaction that occurred on Wednesday, April 12th. The shares were sold at an average price of $133.61, for a total transaction of $33,402.50. Following the transaction, the director now owns 155 shares in the company, valued at $20,709.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,850 shares of company stock worth $3,452,393. Insiders own 8.26% of the company’s stock.

Institutional Trading of HEICO

A number of institutional investors have recently made changes to their positions in HEI. Lazard Asset Management LLC boosted its stake in shares of HEICO by 3,192.9% during the first quarter. Lazard Asset Management LLC now owns 1,138,939 shares of the aerospace company’s stock valued at $174,872,000 after purchasing an additional 1,104,351 shares during the period. Select Equity Group L.P. purchased a new stake in HEICO in the first quarter worth $85,710,000. Balyasny Asset Management L.P. lifted its position in HEICO by 336.7% during the first quarter. Balyasny Asset Management L.P. now owns 348,363 shares of the aerospace company’s stock valued at $59,584,000 after buying an additional 268,584 shares during the period. Wellington Management Group LLP purchased a new position in HEICO during the first quarter valued at $35,606,000. Finally, Balyasny Asset Management LLC lifted its position in HEICO by 2,002.7% during the third quarter. Balyasny Asset Management LLC now owns 155,033 shares of the aerospace company’s stock valued at $22,322,000 after buying an additional 147,660 shares during the period. Hedge funds and other institutional investors own 27.08% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HEI shares. Morgan Stanley lifted their price objective on shares of HEICO from $172.00 to $184.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 1st. StockNews.com started coverage on shares of HEICO in a research note on Thursday, May 18th. They set a “hold” rating for the company. Jefferies Financial Group boosted their price target on shares of HEICO from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Truist Financial boosted their price target on shares of HEICO from $169.00 to $190.00 in a research note on Wednesday, March 1st. Finally, Royal Bank of Canada boosted their price target on shares of HEICO from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.00.

About HEICO

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HEICO Corp. engages in the manufacturing of electronic equipment for the aviation, defense, space, medical, telecommunications, and electronics industries. It operates through the Flight Support Group and Electronic Technologies Group segments. The Flight Support Group segment designs, manufactures, repairs, overhauls, and distributes jet engine and aircraft component replacement parts.