HEICO (NYSE:HEI) Hits New 52-Week High at $259.04

Shares of HEICO Co. (NYSE:HEI) reached a new 52-week high on Friday . The company traded as high as $259.04 and last traded at $255.58, with a volume of 188719 shares. The stock had previously closed at $255.02.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HEI. Stifel Nicolaus raised their price objective on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of HEICO from $209.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Barclays began coverage on shares of HEICO in a report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price objective on the stock. Truist Financial raised their price objective on shares of HEICO from $248.00 to $264.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Benchmark reissued a “buy” rating and set a $245.00 price objective on shares of HEICO in a report on Tuesday, August 27th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, HEICO has a consensus rating of “Moderate Buy” and an average target price of $255.67.

HEICO Trading Up 0.6 %

The business’s 50-day moving average is $233.37 and its two-hundred day moving average is $214.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52. The stock has a market capitalization of $35.53 billion, a PE ratio of 80.68, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20.

HEICO (NYSE:HEI) last posted its quarterly earnings data on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The firm had revenue of $992.20 million for the quarter, compared to analyst estimates of $995.34 million. During the same period last year, the firm posted $0.77 EPS. HEICO’s quarterly revenue was up 37.3% on a year-over-year basis. As a group, equities research analysts anticipate that HEICO Co. will post 3.57 earnings per share for the current year.

HEICO Increases Dividend

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

Insider Buying and Selling at HEICO

In other HEICO news, insider Eric A. Mendelson sold 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the sale, the insider now owns 148,891 shares of the company’s stock, valued at $27,707,126.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other HEICO news, insider Eric A. Mendelson sold 20,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $186.09, for a total value of $3,721,800.00. Following the completion of the sale, the insider now owns 148,891 shares of the company’s stock, valued at $27,707,126.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Eric A. Mendelson sold 53,510 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $30,741,539.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 85,206 shares of company stock valued at $15,571,927. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. HWG Holdings LP acquired a new position in shares of HEICO during the 2nd quarter worth $3,283,000. Driehaus Capital Management LLC raised its stake in shares of HEICO by 66.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 193,895 shares of the aerospace company’s stock worth $43,357,000 after buying an additional 77,067 shares during the last quarter. Security National Bank of SO Dak acquired a new position in shares of HEICO during the 2nd quarter worth $206,000. Scientech Research LLC acquired a new position in shares of HEICO during the 2nd quarter worth $534,000. Finally, AXA S.A. raised its stake in shares of HEICO by 11.0% during the 2nd quarter. AXA S.A. now owns 101,980 shares of the aerospace company’s stock worth $22,804,000 after buying an additional 10,143 shares during the last quarter. 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.