HEICO (NYSE:HEI) Reaches New 1-Year High at $232.48

HEICO Co. (NYSE:HEI) reached a new 52-week high on Tuesday . The company traded as high as $232.48 and last traded at $232.07, with a volume of 262131 shares traded. The stock had previously closed at $225.76.

Analyst Ratings Changes

HEI has been the subject of a number of recent research reports. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $178.00 to $225.00 in a research note on Tuesday, June 4th. Truist Financial upped their price objective on shares of HEICO from $240.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday, July 17th. Benchmark lifted their target price on shares of HEICO from $185.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Robert W. Baird increased their price target on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Finally, Bank of America raised their price target on shares of HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $236.89.

HEICO Trading Up 1.6 %

The business has a 50-day simple moving average of $224.02 and a 200-day simple moving average of $203.00. The company has a market cap of $31.96 billion, a PE ratio of 72.57, a price-to-earnings-growth ratio of 3.38 and a beta of 1.20. 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 (NYSE:HEI) last posted its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $955.40 million for the quarter, compared to analyst estimates of $951.24 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The company’s revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 earnings per share. On average, analysts predict that HEICO Co. will post 3.57 EPS for the current fiscal year.

HEICO Increases Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Monday, July 15th. Stockholders of record on Monday, July 1st were issued a $0.11 dividend. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. The ex-dividend date of this dividend was Monday, July 1st. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio is presently 6.92%.

Insider Buying and Selling

In related news, insider Eric A. Mendelson sold 53,510 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the sale, the insider now owns 168,891 shares in the company, valued at approximately $30,741,539.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $180.54, for a total value of $1,600,306.56. Following the completion of the sale, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric A. Mendelson sold 53,510 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the transaction, the insider now directly owns 168,891 shares of the company’s stock, valued at $30,741,539.82. The disclosure for this sale can be found here. Insiders have sold 65,206 shares of company stock worth $11,850,127 in the last quarter. 8.10% of the stock is owned by insiders.

Hedge Funds Weigh In On HEICO

Hedge funds have recently bought and sold shares of the stock. Moody Lynn & Lieberson LLC increased its position in HEICO by 2.6% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 2,395 shares of the aerospace company’s stock worth $428,000 after purchasing an additional 60 shares in the last quarter. Clear Harbor Asset Management LLC raised its position in shares of HEICO by 0.4% in the second quarter. Clear Harbor Asset Management LLC now owns 22,845 shares of the aerospace company’s stock valued at $5,109,000 after buying an additional 80 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of HEICO by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 12,456 shares of the aerospace company’s stock valued at $2,228,000 after buying an additional 81 shares during the period. Desjardins Global Asset Management Inc. grew its stake in HEICO by 7.9% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 1,465 shares of the aerospace company’s stock worth $262,000 after acquiring an additional 107 shares during the period. Finally, Avalon Capital Management raised its holdings in HEICO by 3.5% in the 2nd quarter. Avalon Capital Management now owns 3,613 shares of the aerospace company’s stock valued at $808,000 after acquiring an additional 123 shares during the last quarter. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.