Heico Corp (NYSE:HEI) – Seaport Global Securities upped their Q4 2018 earnings estimates for Heico in a research note issued to investors on Tuesday, September 4th. Seaport Global Securities analyst J. Sullivan now anticipates that the aerospace company will earn $0.48 per share for the quarter, up from their previous forecast of $0.47. Seaport Global Securities also issued estimates for Heico’s FY2019 earnings at $1.97 EPS.
Heico (NYSE:HEI) last posted its quarterly earnings data on Monday, August 27th. The aerospace company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.04. Heico had a return on equity of 16.15% and a net margin of 14.26%. The business had revenue of $465.83 million for the quarter, compared to analysts’ expectations of $440.68 million. During the same quarter last year, the firm earned $0.53 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis.
HEI has been the topic of several other research reports. SunTrust Banks raised their price objective on Heico to $97.00 and gave the stock a “buy” rating in a report on Wednesday, August 29th. Zacks Investment Research upgraded Heico from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a report on Friday, July 20th. Canaccord Genuity decreased their price objective on Heico from $105.00 to $84.00 and set a “buy” rating on the stock in a report on Friday, June 29th. ValuEngine upgraded Heico from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. Finally, Jefferies Financial Group raised their price objective on Heico to $100.00 and gave the stock a “buy” rating in a report on Wednesday, August 29th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $85.16.
HEI stock opened at $92.63 on Friday. Heico has a 52-week low of $53.82 and a 52-week high of $94.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.36 and a current ratio of 2.86. The firm has a market cap of $12.27 billion, a PE ratio of 57.76, a price-to-earnings-growth ratio of 4.06 and a beta of 0.78.
In related news, Director Alan Schriesheim sold 5,347 shares of the stock in a transaction on Wednesday, July 11th. The stock was sold at an average price of $62.59, for a total value of $334,668.73. Following the transaction, the director now directly owns 16,041 shares of the company’s stock, valued at approximately $1,004,006.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Frank J. Schwitter sold 750 shares of the stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $76.70, for a total value of $57,525.00. The disclosure for this sale can be found here. Insiders sold a total of 7,803 shares of company stock worth $540,002 over the last ninety days. Corporate insiders own 9.88% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Schroder Investment Management Group grew its stake in Heico by 25.0% in the second quarter. Schroder Investment Management Group now owns 50,493 shares of the aerospace company’s stock worth $3,689,000 after purchasing an additional 10,096 shares in the last quarter. Advisors Asset Management Inc. grew its stake in Heico by 20.2% in the second quarter. Advisors Asset Management Inc. now owns 82,642 shares of the aerospace company’s stock worth $6,027,000 after purchasing an additional 13,876 shares in the last quarter. HWG Holdings LP grew its stake in Heico by 31.9% in the second quarter. HWG Holdings LP now owns 26,131 shares of the aerospace company’s stock worth $1,906,000 after purchasing an additional 6,314 shares in the last quarter. Putnam Investments LLC grew its stake in Heico by 18.0% in the second quarter. Putnam Investments LLC now owns 46,272 shares of the aerospace company’s stock worth $3,374,000 after purchasing an additional 7,069 shares in the last quarter. Finally, Cynosure Advisors LLC grew its stake in Heico by 25.0% in the second quarter. Cynosure Advisors LLC now owns 4,092 shares of the aerospace company’s stock worth $298,000 after purchasing an additional 818 shares in the last quarter. 26.88% 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. The company's Flight Support Group segment provides jet engine and aircraft component replacement parts; thermal insulation blankets and parts; renewable/reusable insulation systems; and specialty components for aerospace and industrial original equipment manufacturers, and the United States government.
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