HEICO Co. (NYSE:HEI) Given Average Rating of “Moderate Buy” by Analysts

Shares of HEICO Co. (NYSE:HEI) have received an average rating of “Moderate Buy” from the nine brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $236.00.

HEI has been the topic of several recent research reports. Robert W. Baird boosted their price objective on shares of HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Bank of America increased their price target on shares of HEICO from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, June 24th. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft increased their target price 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 boosted their price target on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th.

HEICO Trading Down 1.4 %

Shares of HEI stock opened at $223.61 on Wednesday. The business’s fifty day moving average price is $217.40 and its 200 day moving average price is $196.95. The firm has a market capitalization of $30.97 billion, a PE ratio of 70.32, a P/E/G ratio of 3.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.52 and a quick ratio of 1.57. HEICO has a 1-year low of $155.42 and a 1-year high of $232.02.

HEICO (NYSE:HEI) last posted its quarterly earnings results on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The business had revenue of $955.40 million for 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 revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 EPS. As a group, sell-side analysts forecast that HEICO will post 3.55 EPS for the current fiscal year.

HEICO Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Monday, July 15th. Investors of record on Monday, July 1st will be given a $0.11 dividend. The ex-dividend date of this dividend is Monday, July 1st. This is a boost from HEICO’s previous Semi-Annual dividend of $0.07. This represents a dividend yield of 0.1%. HEICO’s dividend payout ratio (DPR) is currently 6.29%.

Insiders Place Their Bets

In related news, insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $180.06, for a total value of $509,929.92. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this link. 8.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HEICO

Institutional investors have recently bought and sold shares of the business. Capital World Investors boosted its position in HEICO by 10.5% during the 4th quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock worth $586,036,000 after purchasing an additional 311,304 shares during the period. Federated Hermes Inc. boosted its position in shares of HEICO by 8.3% in the fourth quarter. Federated Hermes Inc. now owns 567,103 shares of the aerospace company’s stock worth $101,438,000 after buying an additional 43,509 shares during the period. EULAV Asset Management grew 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 buying an additional 66,800 shares in the last quarter. TCW Group Inc. raised its holdings in shares of HEICO by 10.6% during the 4th quarter. TCW Group Inc. now owns 176,102 shares of the aerospace company’s stock valued at $31,499,000 after buying an additional 16,878 shares during the period. Finally, Zeno Equity Partners LLP lifted its position in HEICO by 154.3% during the 1st quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock worth $30,860,000 after acquiring an additional 98,033 shares in the last quarter. 27.12% of the stock is currently owned by hedge funds and other 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.