Heico (NYSE:HEI) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Heico (NYSE:HEI) released its quarterly earnings data on Thursday. The aerospace company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11, Zacks reports. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.17 billion. Heico had a net margin of 14.96% and a return on equity of 16.29%. The company’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $0.99 earnings per share.

Heico Stock Up 0.6%

NYSE:HEI opened at $308.82 on Friday. The company has a current ratio of 3.35, a quick ratio of 1.51 and a debt-to-equity ratio of 0.58. Heico has a twelve month low of $216.68 and a twelve month high of $338.92. The company has a market cap of $42.99 billion, a PE ratio of 67.58, a P/E/G ratio of 3.02 and a beta of 1.04. The company’s 50 day moving average is $313.12 and its two-hundred day moving average is $315.26.

Wall Street Analyst Weigh In

Several research analysts have recently commented on HEI shares. The Goldman Sachs Group reissued a “buy” rating and issued a $382.00 price target (up from $337.00) on shares of Heico in a research report on Wednesday, August 27th. Citigroup began coverage on Heico in a research note on Thursday, December 11th. They issued a “buy” rating and a $367.00 target price on the stock. BNP Paribas set a $330.00 target price on shares of Heico in a report on Tuesday, November 18th. UBS Group raised their price target on shares of Heico from $346.00 to $375.00 and gave the company a “neutral” rating in a report on Wednesday, August 27th. Finally, Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Ten equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $351.38.

Insiders Place Their Bets

In other Heico news, Director Julie Neitzel acquired 676 shares of the company’s stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of $243.93 per share, with a total value of $164,896.68. Following the acquisition, the director directly owned 676 shares of the company’s stock, valued at approximately $164,896.68. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carol F. Fine purchased 672 shares of the stock in a transaction on Friday, October 10th. The stock was acquired at an average cost of $243.93 per share, for a total transaction of $163,920.96. Following the completion of the acquisition, the director owned 672 shares of the company’s stock, valued at $163,920.96. The trade was a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 4,448 shares of company stock valued at $1,086,933. Corporate insiders own 9.55% of the company’s stock.

Institutional Investors Weigh In On Heico

A number of institutional investors have recently modified their holdings of HEI. IHT Wealth Management LLC raised its holdings in shares of Heico by 2.1% during the second quarter. IHT Wealth Management LLC now owns 5,717 shares of the aerospace company’s stock valued at $1,875,000 after acquiring an additional 117 shares during the last quarter. Regal Investment Advisors LLC increased its position in shares of Heico by 7.5% during the third quarter. Regal Investment Advisors LLC now owns 3,186 shares of the aerospace company’s stock worth $1,029,000 after purchasing an additional 222 shares in the last quarter. Verity Asset Management Inc. raised its stake in Heico by 3.3% in the 3rd quarter. Verity Asset Management Inc. now owns 7,139 shares of the aerospace company’s stock valued at $2,305,000 after purchasing an additional 225 shares during the last quarter. Entropy Technologies LP lifted its holdings in Heico by 12.3% in the 3rd quarter. Entropy Technologies LP now owns 2,275 shares of the aerospace company’s stock valued at $734,000 after purchasing an additional 249 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its holdings in Heico by 30.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 1,121 shares of the aerospace company’s stock valued at $368,000 after purchasing an additional 262 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Company Profile

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.