HEICO Co. (HEI) to Issue Semi-Annual Dividend of $0.11 on July 15th

HEICO Co. (NYSE:HEI) declared a Semi-Annual dividend on Thursday, June 20th, NASDAQ reports. Shareholders of record on Monday, July 1st will be paid a dividend of 0.11 per share by the aerospace company on Monday, July 15th. This represents a yield of 0.1%. The ex-dividend date of this dividend is Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07.

HEICO has increased its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 16 years. HEICO has a dividend payout ratio of 5.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HEICO to earn $4.21 per share next year, which means the company should continue to be able to cover its $0.22 annual dividend with an expected future payout ratio of 5.2%.

HEICO Stock Performance

Shares of HEICO stock opened at $223.30 on Friday. The stock has a market cap of $30.93 billion, a PE ratio of 70.22, a price-to-earnings-growth ratio of 3.34 and a beta of 1.21. The business has a fifty day simple moving average of $217.40 and a 200-day simple moving average of $196.79. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. HEICO has a 12 month low of $155.42 and a 12 month high of $232.02.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.08. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $955.40 million during the quarter, compared to analyst estimates of $951.24 million. During the same period last year, the company earned $0.76 earnings per share. HEICO’s quarterly revenue was up 38.9% compared to the same quarter last year. On average, sell-side analysts anticipate that HEICO will post 3.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HEI has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on HEICO from $215.00 to $230.00 and gave the stock a “buy” rating in a research report on Monday, May 6th. Truist Financial reissued a “buy” rating and set a $240.00 target price (up from $229.00) on shares of HEICO in a research report on Thursday, May 30th. Morgan Stanley raised 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 report on Tuesday, June 4th. Robert W. Baird lifted their price objective on HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Finally, Bank of America lifted their price objective on HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, June 24th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $236.00.

Insider Activity

In other news, insider Eric A. Mendelson sold 2,832 shares of HEICO stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the transaction, the insider now owns 246,060 shares in the company, valued at $44,305,563.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.10% of the stock is currently owned by corporate insiders.

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.