Truist Financial Issues Positive Forecast for Heico (NYSE:HEI) Stock Price

Heico (NYSE:HEI) had its price objective increased by Truist Financial from $352.00 to $366.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the aerospace company’s stock.

Several other equities analysts have also recently issued reports on HEI. Royal Bank Of Canada boosted their target price on Heico from $315.00 to $335.00 and gave the company an “outperform” rating in a research note on Friday, August 22nd. Zacks Research raised Heico to a “hold” rating in a research note on Monday, August 11th. Wells Fargo & Company boosted their target price on Heico from $244.00 to $278.00 and gave the company an “equal weight” rating in a research note on Friday, May 30th. Wall Street Zen cut Heico from a “buy” rating to a “hold” rating in a research note on Friday, July 18th. Finally, Morgan Stanley boosted their target price on Heico from $305.00 to $330.00 and gave the company an “equal weight” rating in a research note on Thursday, July 17th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Heico currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.00.

Heico Price Performance

HEI opened at $316.93 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.56 and a current ratio of 3.43. Heico has a 52-week low of $216.68 and a 52-week high of $338.92. The stock has a market capitalization of $44.09 billion, a PE ratio of 69.35, a price-to-earnings-growth ratio of 4.13 and a beta of 1.11. The stock’s 50 day moving average price is $318.29 and its 200-day moving average price is $281.38.

Heico (NYSE:HEI) last posted its earnings results on Monday, August 25th. The aerospace company reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.14. Heico had a return on equity of 16.68% and a net margin of 14.96%.The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm earned $0.97 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. On average, equities research analysts predict that Heico will post 4.2 EPS for the current year.

Heico Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Tuesday, July 15th. Investors of record on Tuesday, July 1st were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, July 1st. This is a positive change from Heico’s previous semi-annual dividend of $0.11. This represents a yield of 10.0%. Heico’s payout ratio is currently 5.61%.

Insider Buying and Selling

In other news, Chairman Laurans A. Mendelson sold 56,300 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $319.45, for a total value of $17,985,035.00. Following the sale, the chairman directly owned 1,253,127 shares of the company’s stock, valued at approximately $400,311,420.15. This represents a 4.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan Schriesheim sold 35,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $298.36, for a total value of $10,442,600.00. Following the completion of the sale, the director directly owned 122,197 shares in the company, valued at approximately $36,458,696.92. This represents a 22.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,656 shares of company stock valued at $28,534,115 over the last ninety days. Company insiders own 9.55% of the company’s stock.

Institutional Investors Weigh In On Heico

Institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC grew its stake in shares of Heico by 92.0% in the first quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 46 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Heico during the first quarter valued at $27,000. NBC Securities Inc. bought a new position in shares of Heico during the first quarter valued at $27,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Heico by 17,800.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock valued at $48,000 after purchasing an additional 178 shares in the last quarter. Finally, Banque Transatlantique SA bought a new position in shares of Heico during the fourth quarter valued at $44,000. 27.12% of the stock is owned by hedge funds and other 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.