Victor H. Mendelson Acquires 726 Shares of HEICO Co. (NYSE:HEI) Stock

HEICO Co. (NYSE:HEI) insider Victor H. Mendelson bought 726 shares of the stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $262.94 per share, for a total transaction of $190,894.44. Following the completion of the transaction, the insider now owns 1,234,950 shares of the company’s stock, valued at approximately $324,717,753. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

HEICO Stock Performance

Shares of HEI opened at $254.82 on Thursday. The company has a market capitalization of $35.29 billion, a PE ratio of 80.13, a P/E/G ratio of 3.69 and a beta of 1.22. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $269.38. The company has a 50-day simple moving average of $256.10 and a 200-day simple moving average of $232.11. The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last issued its earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a net margin of 12.64% and a return on equity of 14.51%. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same period last year, the company posted $0.77 earnings per share. Equities research analysts predict that HEICO Co. will post 3.66 earnings per share for the current fiscal year.

Institutional Trading of HEICO

A number of institutional investors have recently bought and sold shares of the company. AGF Management Ltd. raised its stake in shares of HEICO by 61.7% during the 2nd quarter. AGF Management Ltd. now owns 949,945 shares of the aerospace company’s stock worth $212,417,000 after buying an additional 362,625 shares during the last quarter. Vantage Investment Partners LLC acquired a new position in HEICO during the second quarter worth about $26,993,000. Driehaus Capital Management LLC lifted its holdings in shares of HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock valued at $43,357,000 after purchasing an additional 77,067 shares in the last quarter. EULAV Asset Management grew its position in shares of HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of HEICO during the 2nd quarter worth approximately $67,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on HEI shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of HEICO from $235.00 to $271.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Robert W. Baird boosted their price target on HEICO from $243.00 to $280.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Benchmark reiterated a “buy” rating and issued a $245.00 target price on shares of HEICO in a research note on Tuesday, August 27th. Truist Financial upped their price target on HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Royal Bank of Canada lifted their price objective on shares of HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, HEICO has an average rating of “Moderate Buy” and an average target price of $270.70.

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.