Heico Corporation (NYSE:HEI) Receives Consensus Rating of “Moderate Buy” from Analysts

Heico Corporation (NYSE:HEI) has received a consensus rating of “Moderate Buy” from the thirteen analysts that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $301.45.

HEI has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Heico from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. UBS Group boosted their price objective on shares of Heico from $264.00 to $306.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Morgan Stanley increased their price objective on Heico from $305.00 to $330.00 and gave the company an “equal weight” rating in a research report on Thursday, July 17th. Bank of America boosted their target price on Heico from $320.00 to $355.00 and gave the stock a “buy” rating in a research report on Thursday, July 3rd. Finally, Barclays set a $280.00 price target on Heico and gave the company an “equal weight” rating in a research note on Monday, June 2nd.

Insider Activity at Heico

In other news, Director Frank J. Schwitter sold 356 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the transaction, the director owned 1,500 shares of the company’s stock, valued at $448,650. The trade was a 19.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan Schriesheim sold 35,000 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $298.36, for a total transaction of $10,442,600.00. Following the completion of the sale, the director owned 122,197 shares of the company’s stock, valued at approximately $36,458,696.92. This represents a 22.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,656 shares of company stock worth $28,534,115 in the last ninety days. Company insiders own 9.55% of the company’s stock.

Institutional Trading of Heico

Hedge funds have recently bought and sold shares of the stock. Bain Capital Public Equity Management II LLC acquired a new position in shares of Heico during the fourth quarter worth about $110,503,000. Freestone Grove Partners LP bought a new stake in Heico in the 4th quarter valued at approximately $71,030,000. Congress Asset Management Co. boosted its position in Heico by 366.0% during the 2nd quarter. Congress Asset Management Co. now owns 308,457 shares of the aerospace company’s stock worth $101,174,000 after acquiring an additional 242,264 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Heico during the 1st quarter worth approximately $40,949,000. Finally, Squarepoint Ops LLC raised 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 during the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Trading Up 0.6%

Shares of HEI opened at $325.52 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. The company has a market cap of $45.28 billion, a price-to-earnings ratio of 76.06, a PEG ratio of 4.03 and a beta of 1.08. The stock has a fifty day moving average price of $310.48 and a two-hundred day moving average price of $270.39. Heico has a 52-week low of $216.68 and a 52-week high of $328.64.

Heico (NYSE:HEI) last announced its 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. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.06 billion. Heico had a return on equity of 15.88% and a net margin of 14.54%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share. Analysts predict that Heico will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a $0.12 dividend. The ex-dividend date was Tuesday, July 1st. This is a boost from Heico’s previous semi-annual dividend of $0.11. This represents a dividend yield of 0.1%. Heico’s dividend payout ratio is 5.61%.

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.