HEICO Co. (HEI) To Go Ex-Dividend on July 1st

HEICO Co. (NYSE:HEI) announced a Semi-Annual dividend on Thursday, June 20th, NASDAQ reports. Investors of record on Monday, July 1st will be paid a dividend of 0.11 per share by the aerospace company on Monday, July 15th. This represents a yield of 0.1%. The ex-dividend date is Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07.

HEICO has increased its dividend payment by an average of 7.7% annually over the last three years and has increased its dividend every year for the last 16 years. HEICO has a payout ratio of 4.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HEICO to earn $4.20 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 4.8%.

HEICO Price Performance

Shares of NYSE HEI opened at $227.26 on Friday. The stock has a market cap of $31.48 billion, a P/E ratio of 71.47, a P/E/G ratio of 3.38 and a beta of 1.21. HEICO has a twelve month low of $155.42 and a twelve month high of $232.02. The stock has a 50 day moving average of $214.43 and a two-hundred day moving average of $195.10. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.80 by $0.08. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The firm had revenue of $955.40 million during the quarter, compared to the consensus estimate of $951.24 million. During the same quarter in the prior year, the firm earned $0.76 EPS. HEICO’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, research analysts forecast that HEICO will post 3.54 earnings per share for the current year.

Wall Street Analyst Weigh In

HEI has been the topic of several recent research reports. Stifel Nicolaus boosted their price target on HEICO from $215.00 to $230.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Royal Bank of Canada boosted their price target on shares of HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up from $229.00) on shares of HEICO in a report on Thursday, May 30th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $178.00 to $225.00 in a report on Tuesday, June 4th. Finally, Benchmark increased their price target on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, HEICO presently has an average rating of “Moderate Buy” and an average price target of $232.67.

Insider Activity

In related news, Director Frank J. Schwitter sold 400 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $193.70, for a total value of $77,480.00. Following the sale, the director now directly owns 1,255 shares of the company’s stock, valued at approximately $243,093.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 8.10% 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.