Short Interest in HEICO Co. (NYSE:HEI) Drops By 9.4%

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

Analyst Upgrades and Downgrades

HEI has been the topic of several recent research reports. Truist Financial lifted their target price on shares of HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Benchmark reaffirmed a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Bank of America boosted their price target on shares of HEICO from $250.00 to $285.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Stifel Nicolaus upped their price objective on shares of HEICO from $250.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, August 27th. Finally, Barclays initiated coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.56.

HEICO Stock Down 0.7 %

HEI stock traded down $1.94 during trading on Friday, reaching $259.32. 446,818 shares of the company traded hands, compared to its average volume of 381,850. HEICO has a 12 month low of $155.42 and a 12 month high of $269.38. The business has a 50 day simple moving average of $246.33 and a 200 day simple moving average of $223.51. The company has a market capitalization of $35.91 billion, a price-to-earnings ratio of 81.55, a price-to-earnings-growth ratio of 3.79 and a beta of 1.22. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.47 and a current ratio of 3.30.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period last year, the business posted $0.77 earnings per share. On average, equities research analysts anticipate that HEICO will post 3.64 earnings per share for the current fiscal year.

Insider Buying and Selling at HEICO

In other HEICO news, Director Frank J. Schwitter purchased 475 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $252.26 per share, with a total value of $119,823.50. Following the completion of the purchase, the director now directly owns 1,730 shares in the company, valued at approximately $436,409.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric A. Mendelson sold 20,000 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $186.09, for a total value of $3,721,800.00. Following the transaction, the insider now directly owns 148,891 shares of the company’s stock, valued at $27,707,126.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank J. Schwitter purchased 475 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average cost of $252.26 per share, for a total transaction of $119,823.50. Following the completion of the transaction, the director now owns 1,730 shares of the company’s stock, valued at approximately $436,409.80. The disclosure for this purchase can be found here. Insiders have sold a total of 82,374 shares of company stock worth $15,061,997 over the last ninety days. Corporate insiders own 8.10% of the company’s stock.

Institutional Trading of HEICO

A number of institutional investors have recently made changes to their positions in the company. Nomura Holdings Inc. acquired a new position in HEICO during the fourth quarter worth $897,000. Meyer Handelman Co. acquired a new position in HEICO during the first quarter worth $1,072,000. Quadrature Capital Ltd purchased a new stake in HEICO in the first quarter valued at $2,796,000. Mediolanum International Funds Ltd purchased a new stake in HEICO in the first quarter valued at $1,442,000. Finally, Dudley & Shanley Inc. raised its position in HEICO by 24.0% in the first quarter. Dudley & Shanley Inc. now owns 18,400 shares of the aerospace company’s stock valued at $3,514,000 after purchasing an additional 3,560 shares during the period. 27.12% of the stock is owned by institutional investors and hedge funds.

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.