Heico (NYSE:HEI) Reaches New 12-Month High After Analyst Upgrade

Heico Corporation (NYSE:HEI) shares hit a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $366.00 to $391.00. Truist Financial currently has a buy rating on the stock. Heico traded as high as $339.64 and last traded at $336.5750, with a volume of 79838 shares trading hands. The stock had previously closed at $334.58.

HEI has been the subject of several other reports. Barclays raised their target price on shares of Heico from $280.00 to $300.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $382.00 target price (up from $337.00) on shares of Heico in a research note on Wednesday, August 27th. UBS Group reissued a “neutral” rating and set a $371.00 target price (up from $359.00) on shares of Heico in a report on Monday. Citigroup started coverage on Heico in a report on Thursday, December 11th. They set a “buy” rating and a $367.00 price target for the company. Finally, Weiss Ratings raised shares of Heico from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 15th. Ten research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $357.07.

Insider Activity at Heico

In other Heico news, Director Alan Schriesheim bought 672 shares of Heico stock in a transaction dated Friday, October 10th. The stock was bought at an average price of $243.93 per share, with a total value of $163,920.96. Following the completion of the transaction, the director owned 672 shares in the company, valued at $163,920.96. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark H. Hildebrandt purchased 400 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was acquired at an average price of $248.76 per share, for a total transaction of $99,504.00. Following the completion of the purchase, the director directly owned 1,181 shares of the company’s stock, valued at $293,785.56. This represents a 51.22% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 4,448 shares of company stock valued at $1,086,933. 9.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Heico

A number of hedge funds and other institutional investors have recently made changes to their positions in HEI. Westside Investment Management Inc. grew its position in Heico by 100.0% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the aerospace company’s stock worth $28,000 after buying an additional 43 shares in the last quarter. Greykasell Wealth Strategies Inc. bought a new stake in shares of Heico during the 3rd quarter valued at $29,000. Hazlett Burt & Watson Inc. acquired a new stake in shares of Heico during the 3rd quarter worth $31,000. Ridgewood Investments LLC increased its position in shares of Heico by 36.5% in the second quarter. Ridgewood Investments LLC now owns 131 shares of the aerospace company’s stock worth $43,000 after purchasing an additional 35 shares during the period. Finally, Banque Transatlantique SA raised its stake in Heico by 36.8% in the first quarter. Banque Transatlantique SA now owns 253 shares of the aerospace company’s stock valued at $62,000 after purchasing an additional 68 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors and hedge funds.

Heico Price Performance

The firm has a market cap of $47.06 billion, a P/E ratio of 68.85, a PEG ratio of 3.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.83 and a quick ratio of 1.51. The company’s 50-day moving average is $315.07 and its two-hundred day moving average is $316.30.

Heico (NYSE:HEI) last released its earnings results on Thursday, December 18th. The aerospace company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. Heico had a net margin of 15.39% and a return on equity of 16.80%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same period last year, the firm earned $0.99 EPS. The business’s quarterly revenue was up 19.3% compared to the same quarter last year. Sell-side analysts anticipate that Heico Corporation will post 4.2 EPS for the current fiscal year.

Heico Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, January 20th. Shareholders of record on Monday, January 5th will be paid a dividend of $0.12 per share. The ex-dividend date is Monday, January 5th. This represents a yield of 8.0%. Heico’s dividend payout ratio is presently 4.89%.

Heico Company Profile

HEICO Corporation is an aerospace, defense and electronics company that designs, manufactures, and sells a range of products and provides repair and aftermarket services. Headquartered in Hollywood, Florida, HEICO supplies replacement components, repair services and engineered systems for commercial and business aviation, military and space markets as well as for selected industrial and medical customers. The company’s offerings are focused on sustaining and improving the reliability and availability of complex equipment across its end markets.

HEICO operates through two principal business areas.