Shares of HEICO Co. (NYSE:HEI – Get Free Report) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $279.45.
Several brokerages recently weighed in on HEI. Wells Fargo & Company upped their target price on shares of HEICO from $244.00 to $278.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. Morgan Stanley boosted their price target on shares of HEICO from $270.00 to $305.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 4th. William Blair reiterated an “outperform” rating on shares of HEICO in a research note on Tuesday, March 25th. Truist Financial decreased their price target on shares of HEICO from $294.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of HEICO from a “hold” rating to a “buy” rating in a research note on Friday, June 6th.
Read Our Latest Stock Analysis on HEI
HEICO Trading Up 0.5%
HEICO (NYSE:HEI – Get Free Report) last issued its earnings results on Tuesday, May 27th. The aerospace company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.09. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.06 billion. HEICO had a net margin of 13.33% and a return on equity of 14.63%. HEICO’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that HEICO will post 4.2 earnings per share for the current fiscal year.
HEICO Increases Dividend
The firm also recently announced a semi-annual dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Tuesday, July 1st will be given a dividend of $0.12 per share. This represents a dividend yield of 0.1%. This is a boost from HEICO’s previous semi-annual dividend of $0.11. The ex-dividend date is Tuesday, July 1st. HEICO’s dividend payout ratio is currently 5.61%.
Insider Activity
In related news, Director Alan Schriesheim sold 50,000 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $239.57, for a total value of $11,978,500.00. Following the sale, the director now directly owns 157,197 shares of the company’s stock, valued at $37,659,685.29. This represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Frank J. Schwitter sold 356 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $299.10, for a total transaction of $106,479.60. Following the completion of the sale, the director now directly owns 1,500 shares in the company, valued at $448,650. This trade represents a 19.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 86,056 shares of company stock worth $22,699,941. 9.55% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On HEICO
Hedge funds have recently added to or reduced their stakes in the stock. Ridgewood Investments LLC grew its stake in HEICO by 92.0% in the 1st quarter. Ridgewood Investments LLC now owns 96 shares of the aerospace company’s stock worth $26,000 after acquiring an additional 46 shares in the last quarter. NBC Securities Inc. bought a new position in HEICO in the 1st quarter worth about $27,000. Costello Asset Management INC bought a new position in HEICO in the 1st quarter worth about $27,000. Banque Transatlantique SA bought a new position in HEICO in the 4th quarter worth about $44,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in HEICO by 17,800.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 179 shares of the aerospace company’s stock worth $48,000 after acquiring an additional 178 shares in the last quarter. 27.12% of the stock is currently owned by institutional investors.
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.
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