HEICO (NYSE:HEI) Shares Gap Up After Better-Than-Expected Earnings

HEICO Co. (NYSE:HEI) shares gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $227.45, but opened at $245.00. HEICO shares last traded at $255.94, with a volume of 159,598 shares.

The aerospace company reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.27. HEICO had a return on equity of 14.63% and a net margin of 13.33%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $983.10 million.

HEICO Announces Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio (DPR) is currently 6.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on HEICO from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. KeyCorp started coverage on HEICO in a research note on Thursday, January 16th. They issued a “sector weight” rating on the stock. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $270.20.

Institutional Trading of HEICO

Several hedge funds have recently made changes to their positions in HEI. Morse Asset Management Inc grew its holdings in HEICO by 0.6% during the 3rd quarter. Morse Asset Management Inc now owns 6,207 shares of the aerospace company’s stock valued at $1,623,000 after purchasing an additional 38 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in HEICO by 5.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 973 shares of the aerospace company’s stock valued at $231,000 after purchasing an additional 46 shares during the last quarter. Moran Wealth Management LLC grew its holdings in HEICO by 1.9% during the 4th quarter. Moran Wealth Management LLC now owns 2,687 shares of the aerospace company’s stock valued at $639,000 after purchasing an additional 51 shares during the last quarter. United Capital Financial Advisors LLC grew its holdings in HEICO by 5.7% during the 4th quarter. United Capital Financial Advisors LLC now owns 1,043 shares of the aerospace company’s stock valued at $248,000 after purchasing an additional 56 shares during the last quarter. Finally, Centaurus Financial Inc. grew its holdings in HEICO by 8.9% during the 3rd quarter. Centaurus Financial Inc. now owns 731 shares of the aerospace company’s stock valued at $191,000 after purchasing an additional 60 shares during the last quarter. 27.12% of the stock is currently owned by hedge funds and other institutional investors.

HEICO Price Performance

The company has a market capitalization of $35.36 billion, a P/E ratio of 69.78, a P/E/G ratio of 3.10 and a beta of 1.29. The firm’s fifty day moving average is $232.93 and its 200 day moving average is $249.45. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.34 and a current ratio of 3.11.

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.