Heico Corporation (NYSE:HEI) Receives Average Recommendation of “Moderate Buy” from Analysts

Heico Corporation (NYSE:HEI) has been assigned an average recommendation of “Moderate Buy” from the thirteen brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $292.36.

A number of research firms recently weighed in on HEI. UBS Group raised their price target on Heico from $264.00 to $306.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. William Blair reiterated an “outperform” rating on shares of Heico in a research report on Tuesday, March 25th. Wells Fargo & Company increased their price objective on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a research report on Friday, May 30th. Bank of America increased their price objective on Heico from $320.00 to $355.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus set a $352.00 price objective on Heico and gave the company a “buy” rating in a research report on Tuesday, June 24th.

Heico Trading Up 1.8%

HEI stock opened at $324.67 on Friday. Heico has a 1-year low of $216.68 and a 1-year high of $328.64. The firm has a market cap of $45.16 billion, a P/E ratio of 75.86, a P/E/G ratio of 4.11 and a beta of 1.08. The business’s 50 day moving average is $290.87 and its 200-day moving average is $260.03. The company has a current ratio of 3.43, a quick ratio of 1.56 and a debt-to-equity ratio of 0.56.

Heico (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period last year, the firm posted $0.88 EPS. The business’s revenue was up 14.9% on a year-over-year basis. Equities analysts anticipate that Heico will post 4.2 earnings per share for the current fiscal year.

Heico Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st will be paid a dividend of $0.12 per share. This represents a yield of 0.1%. This is a boost from Heico’s previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, July 1st. Heico’s dividend payout ratio is presently 5.61%.

Insiders Place Their Bets

In related news, Director Julie Neitzel sold 700 shares of the business’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $246.23, for a total value of $172,361.00. Following the sale, the director directly owned 418 shares of the company’s stock, valued at approximately $102,924.14. The trade was a 62.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Alan Schriesheim sold 35,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the transaction, the director directly owned 122,197 shares of the company’s stock, valued at approximately $36,458,696.92. The trade was a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,056 shares of company stock worth $22,699,941. Company insiders own 9.55% of the company’s stock.

Institutional Trading of Heico

A number of institutional investors have recently modified their holdings of HEI. Wealthfront Advisers LLC lifted its holdings in shares of Heico by 219,129.4% in the fourth quarter. Wealthfront Advisers LLC now owns 22,234,248 shares of the aerospace company’s stock valued at $5,285,970,000 after purchasing an additional 22,224,106 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Heico in the fourth quarter valued at about $110,503,000. Freestone Grove Partners LP bought a new stake in shares of Heico in the fourth quarter valued at about $71,030,000. Mackenzie Financial Corp bought a new stake in shares of Heico in the first quarter valued at about $40,949,000. Finally, Squarepoint Ops LLC lifted its holdings in shares of Heico by 2,203.0% in the fourth quarter. Squarepoint Ops LLC now owns 87,030 shares of the aerospace company’s stock valued at $20,691,000 after purchasing an additional 83,251 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.

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.