Heico (NYSE:HEI) Sets New 1-Year High – Here’s Why

Shares of Heico Corporation (NYSE:HEI) reached a new 52-week high during trading on Tuesday . The company traded as high as $369.48 and last traded at $365.35, with a volume of 410642 shares. The stock had previously closed at $362.09.

Wall Street Analyst Weigh In

HEI has been the subject of several research analyst reports. Wells Fargo & Company set a $350.00 price target on Heico and gave the stock an “equal weight” rating in a research note on Monday, June 1st. Truist Financial upgraded Heico to a “strong-buy” rating in a report on Friday, May 1st. Susquehanna increased their target price on shares of Heico from $321.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Zacks Research upgraded shares of Heico from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, Weiss Ratings cut shares of Heico from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 22nd. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Heico has a consensus rating of “Moderate Buy” and an average price target of $372.06.

Heico Price Performance

The stock has a market capitalization of $51.02 billion, a price-to-earnings ratio of 65.24, a price-to-earnings-growth ratio of 3.86 and a beta of 1.03. The company has a 50-day simple moving average of $317.40 and a two-hundred day simple moving average of $316.43. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.92 and a quick ratio of 1.36.

Heico (NYSE:HEI) last issued its quarterly earnings data on Wednesday, May 27th. The aerospace company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.33. Heico had a return on equity of 17.52% and a net margin of 16.08%.The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the previous year, the firm posted $1.12 earnings per share. The business’s revenue was up 25.3% on a year-over-year basis. On average, equities research analysts predict that Heico Corporation will post 5.78 earnings per share for the current year.

Heico Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Wednesday, July 1st will be given a dividend of $0.13 per share. This represents a yield of 7.0%. The ex-dividend date is Wednesday, July 1st. Heico’s payout ratio is 4.64%.

Insider Buying and Selling at Heico

In related news, Director Julie Neitzel sold 676 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $223.00, for a total transaction of $150,748.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Bradley K. Rowen sold 1,326 shares of Heico stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $241.63, for a total value of $320,401.38. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 4.86% of the company’s stock.

Institutional Trading of Heico

Institutional investors have recently made changes to their positions in the stock. IFC & Insurance Marketing Inc. acquired a new position in shares of Heico during the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC boosted its holdings in Heico by 1,000.0% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 88 shares of the aerospace company’s stock valued at $28,000 after purchasing an additional 80 shares during the period. Birchwood Financial Partners Inc. acquired a new stake in Heico during the fourth quarter worth about $32,000. V Square Quantitative Management LLC acquired a new stake in shares of Heico during the 4th quarter worth approximately $37,000. Finally, FNY Investment Advisers LLC increased its holdings in Heico by 862.5% in the 4th quarter. FNY Investment Advisers LLC now owns 154 shares of the aerospace company’s stock valued at $49,000 after buying an additional 138 shares during the period. 27.12% of the stock is currently owned by institutional investors and hedge funds.

About Heico

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.