HEICO Co. (NYSE:HEI) Insider Sells $509,929.92 in Stock

HEICO Co. (NYSE:HEI) insider Eric A. Mendelson sold 2,832 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $180.06, for a total value of $509,929.92. Following the completion of the sale, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

HEICO Price Performance

Shares of NYSE HEI traded down $3.65 during trading hours on Wednesday, reaching $225.30. 446,468 shares of the stock traded hands, compared to its average volume of 379,621. The company’s 50-day simple moving average is $215.72 and its two-hundred day simple moving average is $196.09. The company has a quick ratio of 1.57, a current ratio of 3.52 and a debt-to-equity ratio of 0.69. HEICO Co. has a 52-week low of $155.42 and a 52-week high of $232.02. The company has a market capitalization of $31.20 billion, a P/E ratio of 71.19, a price-to-earnings-growth ratio of 3.37 and a beta of 1.21.

HEICO (NYSE:HEI) last issued its quarterly earnings data 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 firm had revenue of $955.40 million for the quarter, compared to analyst estimates of $951.24 million. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period last year, the company earned $0.76 EPS. Equities research analysts forecast that HEICO Co. will post 3.55 EPS for the current year.

HEICO Increases Dividend

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

Institutional Investors Weigh In On HEICO

Several hedge funds have recently made changes to their positions in HEI. Capital World Investors raised its stake in HEICO by 10.5% during the fourth quarter. Capital World Investors now owns 3,276,326 shares of the aerospace company’s stock valued at $586,036,000 after buying an additional 311,304 shares during the last quarter. Zeno Equity Partners LLP raised 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 valued at $30,860,000 after buying an additional 98,033 shares during the last quarter. EULAV Asset Management raised its stake in HEICO by 50.9% during the third quarter. EULAV Asset Management now owns 233,593 shares of the aerospace company’s stock valued at $37,826,000 after buying an additional 78,779 shares during the last quarter. Azimuth Capital Investment Management LLC raised its stake in HEICO by 118.3% during the fourth quarter. Azimuth Capital Investment Management LLC now owns 93,108 shares of the aerospace company’s stock valued at $16,654,000 after buying an additional 50,448 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake 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 purchasing an additional 43,509 shares during the last quarter. 27.12% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HEI has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price objective on shares of HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a research report on Thursday, May 30th. Morgan Stanley raised HEICO from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $178.00 to $225.00 in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft boosted their price target on HEICO from $209.00 to $235.00 and gave the company a “buy” rating in a research note on Tuesday, May 21st. Robert W. Baird boosted their target price on HEICO from $223.00 to $243.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Finally, Truist Financial reissued a “buy” rating and set a $240.00 target price (up previously from $229.00) on shares of HEICO in a research note on Thursday, May 30th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, HEICO presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.00.

HEICO Company Profile

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.