HEICO (NYSE:HEI) Issues Earnings Results

HEICO (NYSE:HEI) released its quarterly earnings results on Monday. The aerospace company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05, Briefing.com reports. The business had revenue of $992.20 million for 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 company’s revenue was up 37.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.77 EPS.

HEICO Stock Performance

Shares of HEI opened at $247.39 on Wednesday. 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 has a 1 year low of $155.42 and a 1 year high of $258.84. The firm has a fifty day moving average of $231.78 and a 200-day moving average of $212.80. The company has a market cap of $34.26 billion, a price-to-earnings ratio of 77.80, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20.

HEICO Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were issued 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 6.92%.

Analysts Set New Price Targets

HEI has been the topic of several recent research reports. Stifel Nicolaus boosted their price objective on shares of HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their price objective on shares of HEICO from $223.00 to $243.00 and gave the company an “outperform” rating in a research report on Thursday, May 30th. Benchmark reiterated a “buy” rating and issued a $245.00 price target on shares of HEICO in a report on Tuesday. Barclays assumed coverage on shares of HEICO in a research report on Monday, August 19th. They set an “equal weight” rating and a $250.00 price target for the company. Finally, Royal Bank of Canada lifted their target price on HEICO from $235.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. 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, HEICO currently has an average rating of “Moderate Buy” and an average price target of $247.33.

Insider Activity at HEICO

In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $44,305,563.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric A. Mendelson sold 53,510 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $182.02, for a total transaction 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 $30,741,539.82. The disclosure for this sale can be found here. Insiders have sold a total of 85,206 shares of company stock worth $15,571,927 in the last ninety days. 8.10% of the stock is owned by insiders.

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.