Royal Bank of Canada Raises HEICO (NYSE:HEI) Price Target to $272.00

HEICO (NYSE:HEI) had its price objective boosted by Royal Bank of Canada from $250.00 to $272.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the aerospace company’s stock.

HEI has been the subject of a number of other reports. Robert W. Baird boosted their price target on shares of HEICO from $243.00 to $280.00 and gave the company an outperform rating in a research report on Wednesday. Bank of America boosted 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. Barclays started coverage on shares of HEICO in a research report on Monday, August 19th. They issued an equal weight rating and a $250.00 price target for the company. Truist Financial boosted their price target on shares of HEICO from $240.00 to $248.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of HEICO from $209.00 to $235.00 and gave the company a buy rating in a research note on Tuesday, May 21st. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $255.67.

HEICO Price Performance

HEICO stock opened at $256.58 on Wednesday. The stock has a market cap of $35.54 billion, a P/E ratio of 80.69, a price-to-earnings-growth ratio of 3.53 and a beta of 1.20. The company has a fifty day simple moving average of $233.37 and a 200-day simple moving average of $213.84. HEICO has a 12-month low of $155.42 and a 12-month high of $259.04. The company has a current ratio of 3.52, a quick ratio of 1.57 and a debt-to-equity ratio of 0.69.

HEICO (NYSE:HEI) last announced its quarterly earnings results on Monday, August 26th. The aerospace company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. HEICO had a net margin of 12.62% and a return on equity of 14.26%. The firm had revenue of $992.20 million during the quarter, compared to analysts’ expectations of $995.34 million. During the same period in the previous year, the company earned $0.77 earnings per share. HEICO’s quarterly revenue was up 37.3% compared to the same quarter last year. Equities analysts expect that HEICO will post 3.57 EPS for the current fiscal year.

HEICO Increases Dividend

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

Insider Transactions at HEICO

In other news, insider Eric A. Mendelson sold 2,832 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were 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 $44,305,563.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other HEICO news, insider Eric A. Mendelson sold 53,510 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 168,891 shares in the company, valued at $30,741,539.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric A. Mendelson sold 2,832 shares of the company’s stock in a transaction dated 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 owns 246,060 shares in the company, valued at $44,305,563.60. 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 over the last ninety days. 8.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HEI. Benjamin F. Edwards & Company Inc. grew its position in HEICO by 127.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 4,551 shares of the aerospace company’s stock worth $814,000 after buying an additional 2,552 shares during the period. Private Advisor Group LLC grew its position in HEICO by 0.7% during the fourth quarter. Private Advisor Group LLC now owns 12,456 shares of the aerospace company’s stock worth $2,228,000 after buying an additional 81 shares during the period. Sawgrass Asset Management LLC grew its position in HEICO by 36.2% during the fourth quarter. Sawgrass Asset Management LLC now owns 42,144 shares of the aerospace company’s stock worth $7,538,000 after buying an additional 11,207 shares during the period. AGF Management Ltd. acquired a new position in HEICO during the fourth quarter worth about $2,899,000. Finally, Qsemble Capital Management LP purchased a new stake in shares of HEICO in the fourth quarter valued at about $582,000. 27.12% of the stock is currently owned by institutional investors and hedge funds.

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.