HEICO (NYSE:HEI) Sees Large Volume Increase – Here’s Why

HEICO Co. (NYSE:HEI) shares saw unusually-strong trading volume on Wednesday . Approximately 1,313,271 shares traded hands during mid-day trading, an increase of 91% from the previous session’s volume of 687,053 shares.The stock last traded at $226.58 and had previously closed at $225.85.

Analyst Ratings Changes

A number of brokerages have recently commented on HEI. Bank of America lifted their target price on shares of HEICO from $250.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Morgan Stanley lifted their price objective on shares of HEICO from $245.00 to $265.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Truist Financial increased their target price on shares of HEICO from $264.00 to $282.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft reduced their price target on HEICO from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, UBS Group began coverage on shares of HEICO in a research note on Tuesday, October 15th. They set a “neutral” rating and a $277.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $270.20.

HEICO Trading Down 0.7 %

The company has a quick ratio of 1.47, a current ratio of 3.30 and a debt-to-equity ratio of 0.63. The firm’s 50 day simple moving average is $255.45 and its two-hundred day simple moving average is $248.69. The stock has a market cap of $31.34 billion, a P/E ratio of 66.20, a price-to-earnings-growth ratio of 3.12 and a beta of 1.28.

HEICO (NYSE:HEI) last issued its earnings results on Tuesday, December 17th. The aerospace company reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.02. HEICO had a return on equity of 14.51% and a net margin of 12.64%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. HEICO’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that HEICO Co. will post 3.64 earnings per share for the current fiscal year.

HEICO Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Friday, January 17th. Investors of record on Friday, January 3rd will be given a $0.11 dividend. The ex-dividend date is Friday, January 3rd. This represents a yield of 0.1%. HEICO’s dividend payout ratio is presently 6.01%.

Insider Transactions at HEICO

In other HEICO news, Director Alan Schriesheim acquired 724 shares of HEICO stock in a transaction dated Friday, October 18th. The stock was bought at an average price of $262.94 per share, for a total transaction of $190,368.56. Following the transaction, the director now owns 174,878 shares in the company, valued at approximately $45,982,421.32. This trade represents a 0.42 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laurans A. Mendelson acquired 725 shares of the stock in a transaction dated Friday, October 18th. The stock was acquired at an average cost of $262.94 per share, for a total transaction of $190,631.50. Following the purchase, the chief executive officer now directly owns 929,984 shares in the company, valued at approximately $244,529,992.96. The trade was a 0.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 2,175 shares of company stock worth $571,895. Company insiders own 8.10% of the company’s stock.

Hedge Funds Weigh In On HEICO

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Andra AP fonden acquired a new position in HEICO during the second quarter valued at approximately $45,000. Rakuten Securities Inc. acquired a new position in HEICO during the 3rd quarter valued at about $81,000. Brooklyn Investment Group acquired a new position in shares of HEICO during the 3rd quarter worth about $128,000. Global Trust Asset Management LLC acquired a new stake in shares of HEICO during the third quarter worth about $144,000. Finally, Arcadia Investment Management Corp MI acquired a new position in shares of HEICO during the third quarter worth about $157,000. Institutional investors and hedge funds 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.