HEICO (NYSE:HEI) Issues Quarterly Earnings Results

HEICO (NYSE:HEI) released its earnings results on Monday. The aerospace company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05, Briefing.com reports. HEICO had a return on equity of 14.26% and a net margin of 12.62%. The business had revenue of $992.20 million for the quarter, compared to the consensus estimate of $995.34 million. During the same period in the previous year, the company posted $0.77 earnings per share. The company’s revenue for the quarter was up 37.3% compared to the same quarter last year.

HEICO Trading Up 0.6 %

Shares of HEI stock opened at $247.39 on Wednesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.52 and a quick ratio of 1.57. The stock’s 50 day simple moving average is $231.78 and its two-hundred day simple moving average is $212.80. HEICO has a 1 year low of $155.42 and a 1 year high of $258.84. The company has a market cap of $34.26 billion, a PE ratio of 77.80, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20.

HEICO Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Monday, July 15th. Investors of record on Monday, July 1st were paid a dividend of $0.11 per share. The ex-dividend date was Monday, July 1st. This is a positive change from HEICO’s previous Semi-Annual dividend of $0.07. This represents a yield of 0.1%. HEICO’s dividend payout ratio is presently 6.92%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley upgraded HEICO from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $178.00 to $225.00 in a research report on Tuesday, June 4th. Barclays initiated coverage on HEICO in a research note on Monday, August 19th. They issued an “equal weight” rating and a $250.00 price objective for the company. Royal Bank of Canada upped their price objective on HEICO from $235.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, May 30th. Bank of America upped their price objective on HEICO from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, June 24th. Finally, Stifel Nicolaus upped their price objective on HEICO from $250.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $247.33.

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 8,864 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the sale, the insider now directly owns 222,401 shares in the company, valued at $40,152,276.54. The sale was disclosed in a document filed with the SEC, which is available at this link. In other HEICO news, insider Eric A. Mendelson sold 2,832 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $180.06, for a total transaction of $509,929.92. Following the transaction, the insider now directly owns 246,060 shares in the company, valued at approximately $44,305,563.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric A. Mendelson sold 8,864 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $180.54, for a total value of $1,600,306.56. Following the transaction, the insider now owns 222,401 shares in the company, valued at $40,152,276.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,206 shares of company stock worth $15,571,927. 8.10% of the stock is currently owned by company 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.