Heico (NYSE:HEI) Given New $400.00 Price Target at Robert W. Baird

Heico (NYSE:HEI) had its target price hoisted by Robert W. Baird from $360.00 to $400.00 in a research note released on Wednesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the aerospace company’s stock.

HEI has been the topic of a number of other reports. Morgan Stanley raised their price objective on Heico from $305.00 to $330.00 and gave the company an “equal weight” rating in a report on Thursday, July 17th. Barclays set a $280.00 price objective on Heico and gave the company an “equal weight” rating in a report on Monday, June 2nd. Royal Bank Of Canada set a $350.00 price objective on Heico in a report on Wednesday. Zacks Research raised Heico to a “hold” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company raised their price objective on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Heico presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.00.

Heico Stock Performance

Shares of NYSE HEI opened at $316.93 on Wednesday. The stock has a market cap of $44.09 billion, a price-to-earnings ratio of 69.35, a P/E/G ratio of 4.13 and a beta of 1.11. 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 has a 1-year low of $216.68 and a 1-year high of $338.92. The stock’s 50-day moving average is $318.29 and its 200 day moving average is $281.38.

Heico (NYSE:HEI) last announced its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.14. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Heico had a return on equity of 16.68% and a net margin of 14.96%.Heico’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.97 EPS. On average, sell-side analysts anticipate that Heico will post 4.2 EPS for the current fiscal year.

Heico Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st were paid a dividend of $0.12 per share. This represents a dividend yield of 10.0%. This is a boost from Heico’s previous semi-annual dividend of $0.11. The ex-dividend date of this dividend was Tuesday, July 1st. Heico’s payout ratio is presently 5.61%.

Insider Activity at Heico

In related news, Director Alan Schriesheim sold 35,000 shares of the company’s stock in a transaction that occurred 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 owned 122,197 shares in the company, valued at $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total value of $106,479.60. Following the completion of the sale, the director directly owned 1,500 shares of the company’s stock, valued at $448,650. The trade was a 19.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,656 shares of company stock worth $28,534,115 over the last quarter. 9.55% of the stock is owned by corporate insiders.

Institutional Trading of Heico

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HEI. Bain Capital Public Equity Management II LLC purchased a new stake in Heico in the fourth quarter worth $110,503,000. Freestone Grove Partners LP purchased a new stake in Heico in the fourth quarter worth $71,030,000. Congress Asset Management Co. lifted its stake in Heico by 366.0% in the second 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 period. American Century Companies Inc. lifted its stake in Heico by 68.9% in the second quarter. American Century Companies Inc. now owns 528,145 shares of the aerospace company’s stock worth $173,232,000 after acquiring an additional 215,530 shares during the period. Finally, Munro Partners purchased a new stake in Heico in the second quarter worth $59,720,000. Hedge funds and other institutional investors own 27.12% of the company’s stock.

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.