HEICO Co. (NYSE:HEI) Short Interest Update

HEICO Co. (NYSE:HEI) was the target of a large drop in short interest during the month of September. As of September 15th, there was short interest totalling 1,920,000 shares, a drop of 9.4% from the August 31st total of 2,120,000 shares. Currently, 4.6% of the shares of the company are short sold. Based on an average daily volume of 392,600 shares, the short-interest ratio is presently 4.9 days.

HEICO Trading Up 0.3 %

HEI traded up $0.80 during trading on Tuesday, reaching $262.28. 272,552 shares of the company’s stock were exchanged, compared to its average volume of 381,810. The firm has a fifty day moving average price of $247.67 and a two-hundred day moving average price of $224.56. The stock has a market capitalization of $36.32 billion, a PE ratio of 82.48, a price-to-earnings-growth ratio of 3.79 and a beta of 1.22. HEICO has a one year low of $155.42 and a one year high of $269.38. The company has a current ratio of 3.30, a quick ratio of 1.47 and a debt-to-equity ratio of 0.63.

HEICO (NYSE:HEI) last released its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The business’s revenue was up 37.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. As a group, equities research analysts forecast that HEICO will post 3.64 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on HEI shares. Benchmark reaffirmed a “buy” rating and issued a $245.00 price target on shares of HEICO in a research note on Tuesday, August 27th. Morgan Stanley raised shares of HEICO from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Royal Bank of Canada raised their target price on HEICO from $250.00 to $272.00 and gave the company an “outperform” rating in a report on Wednesday, August 28th. Truist Financial boosted their price target on HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Finally, Stifel Nicolaus increased their target price on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, HEICO currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.56.

Insider Buying and Selling

In other news, Director Frank J. Schwitter acquired 475 shares of the stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now directly owns 1,730 shares of the company’s stock, valued at $436,409.80. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In other HEICO news, Director Frank J. Schwitter bought 475 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average price of $252.26 per share, for a total transaction of $119,823.50. Following the transaction, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 53,510 shares of HEICO stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total transaction of $9,739,890.20. Following the completion of the sale, the insider now owns 168,891 shares of the company’s stock, valued at $30,741,539.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 82,374 shares of company stock valued at $15,061,997. Insiders own 8.10% of the company’s stock.

Institutional Investors Weigh In On HEICO

Institutional investors have recently modified their holdings of the company. HWG Holdings LP acquired a new position in HEICO in the second quarter valued at $3,283,000. Driehaus Capital Management LLC grew its holdings in HEICO by 66.0% in the second quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after purchasing an additional 77,067 shares during the period. Security National Bank of SO Dak bought a new stake in HEICO in the 2nd quarter valued at about $206,000. Scientech Research LLC acquired a new stake in HEICO in the second quarter valued at approximately $534,000. Finally, AXA S.A. increased its holdings in shares of HEICO by 11.0% during the second quarter. AXA S.A. now owns 101,980 shares of the aerospace company’s stock valued at $22,804,000 after acquiring an additional 10,143 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

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.