Insider Selling: HEICO Co. (NYSE:HEI) Insider Sells $9,739,890.20 in Stock

HEICO Co. (NYSE:HEI) insider Eric A. Mendelson sold 53,510 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $182.02, for a total transaction of $9,739,890.20. Following the completion of the transaction, the insider now owns 168,891 shares in the company, valued at $30,741,539.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

HEICO Stock Performance

HEI opened at $221.85 on Friday. The firm has a market cap of $30.73 billion, a P/E ratio of 69.76, a price-to-earnings-growth ratio of 3.32 and a beta of 1.20. The business’s fifty day moving average is $222.65 and its 200-day moving average is $201.49. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $232.02. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.57 and a current ratio of 3.52.

HEICO (NYSE:HEI) last announced its quarterly earnings data on Tuesday, May 28th. The aerospace company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.08. The firm had revenue of $955.40 million for the quarter, compared to the consensus estimate 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 earnings per share. Sell-side analysts expect that HEICO Co. will post 3.57 EPS for the current fiscal year.

HEICO Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Monday, July 15th. Shareholders of record on Monday, July 1st were given a dividend of $0.11 per share. 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 of this dividend was Monday, July 1st. HEICO’s payout ratio is currently 6.92%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Morgan Stanley upgraded shares of HEICO from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Robert W. Baird lifted their price target on HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a report on Thursday, May 30th. Royal Bank of Canada boosted their price target on HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 30th. Truist Financial upped their price objective on HEICO from $240.00 to $248.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Benchmark boosted their target price on shares of HEICO from $185.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $236.89.

Institutional Investors Weigh In On HEICO

A number of large investors have recently modified their holdings of HEI. Capital World Investors lifted its position in shares of 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 buying an additional 311,304 shares during the last quarter. Federated Hermes Inc. boosted its stake in shares of HEICO by 8.3% in the 4th 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 in the last quarter. EULAV Asset Management grew its holdings in shares of HEICO by 23.4% during the 1st 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 during the last quarter. TCW Group Inc. increased its position in HEICO by 3.0% during the 2nd quarter. TCW Group Inc. now owns 200,008 shares of the aerospace company’s stock worth $44,724,000 after purchasing an additional 5,779 shares in the last quarter. Finally, Zeno Equity Partners LLP boosted its position in HEICO by 154.3% in the first quarter. Zeno Equity Partners LLP now owns 161,570 shares of the aerospace company’s stock valued at $30,860,000 after buying an additional 98,033 shares in 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.