Heico (NYSE:HEI) Price Target Raised to $375.00 at UBS Group

Heico (NYSE:HEI) had its price objective upped by UBS Group from $346.00 to $375.00 in a research report report published on Wednesday, Marketbeat reports. UBS Group currently has a neutral rating on the aerospace company’s stock.

A number of other equities analysts have also recently commented on the company. Zacks Research upgraded Heico to a “hold” rating in a report on Monday, August 11th. Wells Fargo & Company lifted their price target on Heico from $244.00 to $278.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. Truist Financial raised their price target on Heico from $352.00 to $366.00 and gave the company a “buy” rating in a report on Wednesday. Barclays set a $280.00 price target on Heico and gave the company an “equal weight” rating in a report on Monday, June 2nd. Finally, Bank of America raised their price target on Heico from $320.00 to $355.00 and gave the company a “buy” rating in a report on Thursday, July 3rd. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Heico presently has a consensus rating of “Moderate Buy” and a consensus price target of $336.00.

Heico Stock Performance

NYSE HEI opened at $316.93 on Wednesday. The firm’s fifty day moving average price is $318.29 and its two-hundred day moving average price is $281.38. Heico has a 1 year low of $216.68 and a 1 year high of $338.92. The firm has a market capitalization of $44.09 billion, a P/E ratio of 69.35, a price-to-earnings-growth 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 (NYSE:HEI) last released its quarterly earnings data on Monday, August 25th. The aerospace company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.14. Heico had a net margin of 14.96% and a return on equity of 16.68%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business earned $0.97 EPS. Heico’s revenue for the quarter was up 15.7% compared to the same quarter last year. As a group, research analysts anticipate that Heico will post 4.2 EPS for the current year.

Heico Increases Dividend

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

Insider Transactions at Heico

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of Heico stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total transaction of $17,985,035.00. Following the completion of the sale, the chairman owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. This trade represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of Heico 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 sale, the director directly owned 1,500 shares of the company’s stock, valued at $448,650. This represents a 19.18% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,656 shares of company stock valued at $28,534,115. 9.55% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Avalon Capital Management increased its position in shares of Heico by 0.9% in the second quarter. Avalon Capital Management now owns 3,895 shares of the aerospace company’s stock worth $1,278,000 after purchasing an additional 33 shares during the period. Ridgewood Investments LLC grew its position in Heico by 36.5% in the second quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock valued at $43,000 after acquiring an additional 35 shares during the last quarter. Barrett & Company Inc. grew its position in Heico by 1.6% in the second quarter. Barrett & Company Inc. now owns 3,216 shares of the aerospace company’s stock valued at $1,055,000 after acquiring an additional 50 shares during the last quarter. Emerald Advisers LLC grew its position in Heico by 1.9% in the second quarter. Emerald Advisers LLC now owns 3,000 shares of the aerospace company’s stock valued at $984,000 after acquiring an additional 56 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC grew its position in Heico by 1.4% in the second quarter. Moody Lynn & Lieberson LLC now owns 4,230 shares of the aerospace company’s stock valued at $1,387,000 after acquiring an additional 60 shares during the last quarter. 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.