Short Interest in HEICO Co. (NYSE:HEI) Expands By 49.4%

HEICO Co. (NYSE:HEI) was the target of a significant increase in short interest in June. As of June 15th, there was short interest totalling 2,420,000 shares, an increase of 49.4% from the May 31st total of 1,620,000 shares. Based on an average trading volume of 368,700 shares, the short-interest ratio is presently 6.6 days. Approximately 5.7% of the company’s shares are short sold.

Insider Transactions at HEICO

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total transaction of $509,929.92. Following the sale, the insider now directly owns 246,060 shares of the company’s stock, valued at approximately $44,305,563.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HEICO

Several hedge funds have recently modified their holdings of HEI. Capital World Investors grew its position in HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after buying an additional 311,304 shares in the last quarter. Federated Hermes Inc. increased its position in shares of HEICO by 8.3% during the fourth quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock valued at $101,438,000 after purchasing an additional 43,509 shares during the period. EULAV Asset Management raised its stake in shares of HEICO by 23.4% in the first quarter. EULAV Asset Management now owns 352,093 shares of the aerospace company’s stock valued at $67,250,000 after purchasing an additional 66,800 shares in the last quarter. TCW Group Inc. lifted its position in HEICO by 10.6% in the fourth quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock worth $31,499,000 after purchasing an additional 16,878 shares during the period. Finally, Zeno Equity Partners LLP boosted its stake in HEICO by 154.3% during the first quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock worth $30,860,000 after buying an additional 98,033 shares in the last quarter. 27.12% of the stock is owned by institutional investors.

HEICO Stock Performance

HEI stock traded up $1.29 during midday trading on Monday, hitting $224.79. 23,125 shares of the company traded hands, compared to its average volume of 380,489. HEICO has a twelve month low of $155.42 and a twelve month high of $232.02. The stock has a market capitalization of $31.13 billion, a price-to-earnings ratio of 70.46, a price-to-earnings-growth ratio of 3.29 and a beta of 1.20. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $217.40 and a 200-day simple moving average of $196.95.

HEICO (NYSE:HEI) last released its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.08. The company had revenue of $955.40 million during the quarter, compared to analysts’ expectations of $951.24 million. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. As a group, equities research analysts predict that HEICO will post 3.55 earnings per share for the current year.

HEICO Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be given a $0.11 dividend. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. The ex-dividend date is Monday, July 1st. HEICO’s payout ratio is currently 6.29%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Robert W. Baird boosted their price objective on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Benchmark boosted 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. Stifel Nicolaus increased their price objective on HEICO from $215.00 to $230.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Deutsche Bank Aktiengesellschaft lifted their price target on HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada increased their price objective on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.00.

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.