HEICO (NYSE:HEI) Price Target Raised to $264.00 at Truist Financial

HEICO (NYSE:HEI) had its target price hoisted by Truist Financial from $248.00 to $264.00 in a report issued on Wednesday morning, Benzinga reports. Truist Financial currently has a buy rating on the aerospace company’s stock.

Several other research firms have also issued reports on HEI. Robert W. Baird raised their price target on HEICO from $243.00 to $280.00 and gave the stock an outperform rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on HEICO from $209.00 to $235.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Royal Bank of Canada raised their price target on HEICO from $250.00 to $272.00 and gave the stock an outperform rating in a research report on Wednesday. Morgan Stanley upgraded HEICO from an underweight rating to an equal weight rating and lifted their target price for the stock from $178.00 to $225.00 in a report on Tuesday, June 4th. Finally, Benchmark reiterated a buy rating and set a $245.00 target price on shares of HEICO in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $255.67.

HEICO Stock Up 1.2 %

NYSE HEI opened at $250.25 on Wednesday. The stock has a fifty day moving average of $232.21 and a 200-day moving average of $213.07. The stock has a market capitalization of $34.66 billion, a P/E ratio of 78.69, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20. HEICO has a 52 week low of $155.42 and a 52 week high of $258.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52.

HEICO (NYSE:HEI) last released its earnings results on Monday, August 26th. The aerospace company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The company had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period last year, the firm earned $0.77 EPS. On average, equities research analysts forecast that HEICO will post 3.57 EPS for the current year.

HEICO Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were paid a $0.11 dividend. This is an increase from HEICO’s previous Semi-Annual dividend of $0.07. The ex-dividend date of this dividend was Monday, July 1st. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio (DPR) is currently 6.92%.

Insider Buying and Selling at HEICO

In other HEICO news, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at approximately $40,152,276.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Eric A. Mendelson sold 8,864 shares of HEICO stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now owns 222,401 shares of the company’s stock, valued at $40,152,276.54. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric A. Mendelson sold 53,510 shares of HEICO stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total value of $9,739,890.20. Following the completion of the sale, the insider now directly owns 168,891 shares in the company, valued at approximately $30,741,539.82. The disclosure for this sale can be found here. Insiders have sold 85,206 shares of company stock valued at $15,571,927 in the last 90 days. 8.10% of the stock is currently owned by company insiders.

Institutional Trading of HEICO

A number of hedge funds and other institutional investors have recently modified their holdings of HEI. Andra AP fonden acquired a new position in HEICO during the second quarter worth approximately $45,000. Center for Financial Planning Inc. bought a new stake in shares of HEICO during the second quarter worth approximately $52,000. American National Bank bought a new stake in shares of HEICO during the second quarter worth approximately $66,000. Strategic Financial Concepts LLC bought a new stake in shares of HEICO during the second quarter worth approximately $67,000. Finally, Psagot Value Holdings Ltd. Israel bought a new stake in shares of HEICO during the fourth quarter worth approximately $70,000. Institutional investors and hedge funds own 27.12% 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.